The Effect of Monetary Policy on Economy Growth of WAEMU Countries

Autor:	Franck Edouard Gnahe, Fei-Ming Huang
Rok vydání:	2020
Předmět:	Gross fixed capital formation Exchange rate Cointegration Monetary policy Money supply Economics Economic and monetary union Monetary economics Real interest rate Private sector
Zdroj:	Open Journal of Business and Management. :2504-2523
ISSN:	2329-3292 2329-3284
DOI:	10.4236/ojbm.2020.86156
Popis:	This paper examines the relationship between economic growth and monetary policy. Using panel cointegration structure for the eight West African Economic and Monetary Union (WAEMU) countries, we examine the impact of monetary policy on growth covering the period of 1988-2018. The results from estimation analysis showed that money supply and gross fixed capital formation had positive and significant impact on economic growth. The finding also shows that the real interest rate had significant effect on economic growth. The domestic credit to the private sector and the official exchange rate indicated a positive and statistically significant effect on economic growth.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::984313b47d217a416189d42f95ab0dd9 https://doi.org/10.4236/ojbm.2020.86156 Zobrazit plný text záznamu