Economic Growth and its Relationship to Monetary Policy -An Econometric Analysis Using Panel Models for A Sample of MENA Countries During the Period (2000-2020)-

Abstract

Our study aims to know the relationship between monetary policy and economic growth, and for this goal, a sample of MENA countries was selected during the period (2000-2020), by analyzing and interpreting the path of economic growth and the factors affecting it while studying monetary policy and its impact on some macro variables such as unemployment and GDP, to measure some monetary policy indicators on economic growth, Panel Data models were used. The study reached a number of results that there is a weak impact of monetary policy on achieving economic policy objectives considering most of the developing countries in MENA, while the econometric study showed a positive effect and a direct relationship between the growth of money supply and the exchange rate on economic growth, while there is an inverse relationship and a negative impact on the volume of credit provided to the private sector on economic growth.