Measuring and Analyzing the impact of the Central Bank’s tools on achieving monetary stability in Iraq for the period (1988-2019)

Abstract

The monetary policy pursued by the Central Bank and its indirect quantitative tools play an important role in monetary stability and economic activity, because it is based on monitoring the money supply through which it seeks to achieve its ultimate goals. In Iraq for the period (1988-2019) using the co-integration tests and the Autoregressive Distributed Time Gaps (ARDL) model, based on the premise that the quantitative tools used by the Central Bank have an impact on achieving monetary stability, and the research found some The most important conclusions are that there are positive and negative effects of the Central Bank’s tools through their effects on the economic variables related to monetary stability, and accordingly, it is necessary to work on achieving monetary stability by activating and diversifying these tools so that they become more appropriate to achieve their objectives of monetary and economic stability, by Through the development of the stock market and building an advanced banking system that contributes to the development of local money markets by promoting competition between commercial banks and restore the confidence of individuals in these banks.