تأثير المتغيرات النقدية على مؤشر بورصة عمان للفترة 2000-2019 : دراسة قياسية-تحليلية باستخدام نموذج ARDL

Abstract EN

The present study examines the causal relationship between some monetary variables and the general index of the Amman Stock Exchange, using monthly data for the period 2000-2019, The monetary variables included broad money supply (M2), inflation rate and interest rate on deposits.

The indicator for the performance was represented by the general share price index weighted by Free shares.

The results of Augumented Dickey-Fuller Test (ADF) showed that the study variables are stationary at the first difference and the level, that required the preparation of the ARDL Model.

The model tests showed that there is a cointegration relationship through the Bound Test, and the test of Restricted Error Correction Model (UECM) find that there is no different from the long-term model estimate, that the money supply was positively significant correlated with the market index, while the deposit rate was inversely significant, while the effect of inflation was positive but not significant.