أثر السياسة النقدية على النمو الاقتصادي في ظل تقلبات أسعار النفط : دراسة قياسية لمجموعة من الدول العربية

Abstract EN

The aim principal of this empirical study is to analyze and examine the impact of monetary policy and oil price fluctuations on economic growth in a some Arab countries in middle east and north Africa MINA, the study covered six countries which are Algeria, morocco, Tunisia Egypt, Saudi Arabia and Jorden, the study has applied a panel data models and used an annual data of real gross domestic product, money supply and oil price from 1990 to 2017, our macroeconomic data were taken from world bank dataset (WDI), and we checked the data of oil price from energy information administration (EIA).

The results of study chow that monetary policy has a positive effect on economic growth in these countries, however, the effectiveness of monetary policy varies depending on the nature of the economy.

Monetary policy is more effective in oil importing Arab countries (Morocco, Tunisia, Egypt and Jordan) than oil exporting Arab countries (Algeria and Saudi Arabia), the study also concluded that oil prices have a positive and significant impact on economic growth in in the sample of Arab countries under study, except Tunisian economy where we found that economic growth is affected negatively by oil prices.