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Original Research

THE IMPACT OF MONETARY POLICY ON THE INDICATORS OF ECONOMIC STABILITY IN IRAQ FOR THE PERIOD (2005-2015)

MOHAMMED JUMAAH ALWAN 1, and AHMED HACHICHA 2.

Vol 17, No 10 ( 2022 )   |  DOI: 10.5281/zenodo.7302396   |   Author Affiliation: Candidate student at Professor at FSEG Sfax - Faculté des Sciences Économiques et de Gestion de Sfax, Tunisia 1; Professor at FSEG Sfax - Faculté des Sciences Économiques et de Gestion de Sfax, Tunisia 2.   |   Licensing: CC 4.0   |   Pg no: 2280-2294   |   To cite: MOHAMMED JUMAAH ALWAN, and AHMED HACHICHA. (2022). THE IMPACT OF MONETARY POLICY ON THE INDICATORS OF ECONOMIC STABILITY IN IRAQ FOR THE PERIOD (2005-2015). 17(10), 2280–2294. https://doi.org/10.5281/zenodo.7302396   |   Published on: 31-10-2022

Abstract

This study aims to show the importance and role of monetary policy in Iraq and analyze and measure the relationship between monetary policy and economic stability indicators in Iraq using econometric models, and using the Autoregressive Distributed Lag ARDL model and the Bound Test The relationship between the selected indicators (consumer price index) as a dependent variable and (money supply, GDP, interest rate and exchange rate) as independent variables, was measured for the period 2005-2015. As a result, the study reached the most important results of the positive relationship between the general level of prices, money supply, and GDP with a direct relationship compatible with economic theory, and a negative relationship between the general level of prices, interest rates and the exchange rate, which requires the effective use of monetary policy tools within the Iraqi economy.


Keywords

economic stability, monetary policy, money supply, exchange rate, ARDL