أثر السياسة النقدية على النمو الاقتصادي السعودي : دراسة قياسية خلال الفترة 2001-2018م

Abstract EN

The study aims to analyze the impact of monetary policy on Saudi economic growth, and focused on two variables: the narrow monetary supply M1 representing monetary policy, and GDP (Gross Domestic Product) representing economic growth.

The descriptive analytical approach based on an econometric model was applied using time series and joint integration to demonstrate the impact of monetary policy on Saudi economic growth during the period (2001-2018).The study found a number of results, the most important of which is that the time series of model variables are unstable and is in the form of levels while they were found to be stable in the form of the primary differences.

The study also found that changes in the narrow monetary supply M1 morally affect changes in GDP because the probability values of the test is 0.0019 which is less than the moral value of 0.05.

There is a highly positive and clear short-term relationship between the independent variable and the dependent one; the effect of this relationship begins to fade relatively over time in the long run.

The researcher recommended the need to coordinate economic policies so as to increase economic growth rates for the sake of achieving comprehensive and sustainable development.