العلاقة بين السياسة النقدية و السيولة لدى المصارف التجارية في العراق للمدة (2005-2018)‎

Abstract EN

The research aims to estimate the relationship between monetary policy and liquidity at commercial banks in Iraq.

The methodology of Autoregressive Distributed Lag Model {ARDL} was used to estimate that relationship in the short and long terms using the statistical program (Eviews 10).

The most important conclusions reached by the researcher are the existence of a long-term inverse relationship between the discount rate and liquidity at commercial banks, and a short and long-term inverse moral relationship between the legal cash reserve ration and liquidity at commercial banks.

It also concluded that there is a long- term positive relationship between market operations.

The open market and liquidity at commercial banks are all in accordance with the economic logic.

There is also a long-term equilibrium relationship (co-integration) between the studied variables according to the Bound Test methodology.

The research also showed that the value of the error correction parameter amounted to (-1.17), meaning that the deviation of previous years from the long-term equilibrium is corrected by (17% ), and that the degree of influence of each of the variables is the discount rate, the legal cash reserve ration, and open market operations on the liquidity of commercial banks in the short term (17% , 39% and 1% ) respectively of the total effect.