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Measuring and Analyzing the Effect of Intermediate Channels of Monetary Policy on the Growth of the Iraqi Economy by Using Model Autoregressive Distributed Lag (ARDL) for the Period (2004-2017)

المصدر: مجلة القادسية للعلوم الإدارية والاقتصادية
الناشر: جامعة القادسية - كلية الادارة والاقتصاد
المؤلف الرئيسي: Al-Khaykanee, Nazar Kadhim Sabah (Author)
مؤلفين آخرين: Hadi, Ammar Abbas (Co-Author)
المجلد/العدد: مج21, ع4
محكمة: نعم
الدولة: العراق
التاريخ الميلادي: 2019
الصفحات: 22 - 35
ISSN: 1816-9171
رقم MD: 1234789
نوع المحتوى: بحوث ومقالات
اللغة: الإنجليزية
قواعد المعلومات: EcoLink
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المستخلص: Monetary policy leads an important role in the influencing on the economic growth. This effect is usually uneven among countries according to the nature and degree of progress of the economic system, as well as the independence of the central bank and the monetary tools that is used. This research came to study the effect of the monetary policy channels (the money supply channel, the exchange rate channel, and the interest rate channel) on the growth of the Iraqi economy represented by the GDP during the period (2004- 2017), This period witnessed a fundamental change in policy work after the Central Bank obtained complete independence in 2004 accordance with Law No. (56), in order to achieve this, modern statistical programs have been adopted to measure and analyze the impact of channels on economic growth by using annual quarterly data by (56) views. The research also concluded quantitatively that the effects of the intermediate channels of monetary policy were strong and positive in the growth of the Iraqi economy in the short term, while the effects are weak in the growth of the Iraqi economy in the long term. Due to the structural imbalances and the oil nature for the Iraqi economy and economic policies followed, as a result the focus has been placed on a set of recommendations including the need to coordinate monetary policy and other economic policies, including fiscal policy in order to achieve the objectives required and reduce the contradiction in the trends of economic policies, as well as the diversification of sources of national income.

ISSN: 1816-9171