بحث مستل Analyzing and measuring the impact of the exchange rate policy on the economic growth of Iraq economy For the period (2004-2021) using different frequencies models (MIDAS)
DOI:
https://doi.org/10.25007/ajnu.v11n3a1327Abstract
At the macroeconomic level ,the main objective for developing countries at the medium and long term is to reach sustainable economic growth. Reconsider the exchange rate policies related to local currency is one of the most importance variables in formulating the appropriate economic policy to reach this goal, while avoiding frequent adjustments in the exchange rate policy that have undesirable repercussions on the economy and the value of the local currency. As the exchange rate policy is considered the dynamic stabilizer of the components of the Gross Domestic Product GDP within the Iraqi economy that depend on oil revenue due to the currency is fixed against the dollar, which have a dominant rule. The prices of its imports rise in the national currency when the exchange rate of the dollar decreases against other currencies. Therefore, Iraq faced the pressures of the decline of the dollar and the rise in the price of oil, both are raise the general level of prices, the first through the rise of imported goods prices and the second as a result of the pressure of demand stimulated by government spending, which one of the main reasons that hinder economic growth, as when the state conduct the oil revenue in order to finance public spending, the total level of demand becomes on goods and services largely independent of the size of the economy. This study seeks to assess the impact of the exchange rate policy on economic growth for the period 2004-2021 by measuring this effect in the Iraqi economy using different frequency models (MIDAS). We recommend carrying out structural and financial reform of the economic sectors, and conducting some necessary mergers to create strong banking entities under oversight of a supervisory sector capable of using monetary policy tools to contribute to increasing economic growth rates.
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