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Title Inflation Targeting and Economic Growth in the Middle East and North Africa (MENA): empirical modeling using ARDL approach
Authors Bouyacoub, B.
ORCID
Keywords інфляційне таргетування
инфляционное таргетирование
inflation targeting
ARDL
економічне зростання
экономический рост
economic growth
Близький Схід і Північна Африка (MENA)
Ближний Восток и Северная Африка (MENA)
the Middle East and North Africa (MENA)
Type Article
Date of Issue 2022
URI https://essuir.sumdu.edu.ua/handle/123456789/87541
Publisher Sumy State University
License Creative Commons Attribution 4.0 International License
Citation Bouyacoub, B. (2022). Inflation Targeting and Economic Growth in the Middle East and North Africa (MENA): empirical modeling using ARDL approach. Financial Markets, Institutions and Risks, 6(1), 5-12. https://doi.org/10.21272/fmir.6(1).5-12.2022
Abstract This paper analyses the relationship between Inflation Targeting and economic growth in 20 countries in the Middle East and North Africa (MENA) countries region (Algeria, Saudi Arabia, Palestinian Authority, Bahrain, Djibouti, United Arab Emirates, Egypt, Iraq, Iran, Jordan, Kuwait, Lebanon, Libya, Morocco, Mauritania, Oman, Qatar, Syria, Tunisia, and Yemen), using an Autoregressive Distributed Lag (ARDL) model over the period 2000-2020. An autoregressive distributed lag (ARDL) model is an ordinary least square (OLS) based model which is applicable for both non-stationary time series as well as for times series with mixed order of integration. The results show that Inflation Targeting can have several functions. It is a monetary policy framework based on an appropriate institutional architecture. The adoption of inflation targeting is often subject to a change in laws or administrative arrangements relating to the Central Bank. Inflation targeting might support economic growth by lowering inflation and volatility. However, monetary policy alone cannot drive growth. Inflation targeting might support economic growth by lowering inflation and volatility. Moreover, the results of econometric tests lead to convergent conclusions and argue for the existence of unidirectional causal relationships between economic growth and economic policy indicators.
Appears in Collections: Financial Markets, Institutions and Risks (FMIR)

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Algeria Algeria
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Australia Australia
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Cameroon Cameroon
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China China
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Czechia Czechia
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Egypt Egypt
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Ethiopia Ethiopia
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Finland Finland
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France France
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Germany Germany
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Greece Greece
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India India
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Indonesia Indonesia
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Ireland Ireland
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Italy Italy
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Kuwait Kuwait
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Latvia Latvia
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Lebanon Lebanon
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Lesotho Lesotho
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Lithuania Lithuania
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Malaysia Malaysia
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Morocco Morocco
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Nepal Nepal
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New Zealand New Zealand
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Nigeria Nigeria
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Oman Oman
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Pakistan Pakistan
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Portugal Portugal
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Qatar Qatar
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Saudi Arabia Saudi Arabia
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Senegal Senegal
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Slovakia Slovakia
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South Africa South Africa
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Spain Spain
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Syria Syria
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Taiwan Taiwan
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Tunisia Tunisia
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Turkey Turkey
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Uganda Uganda
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Ukraine Ukraine
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United Arab Emirates United Arab Emirates
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United Kingdom United Kingdom
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United States United States
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Unknown Country Unknown Country
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Vietnam Vietnam
4363

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Algeria Algeria
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Belgium Belgium
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Burkina Faso Burkina Faso
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Cameroon Cameroon
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Canada Canada
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China China
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Czechia Czechia
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Egypt Egypt
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Ethiopia Ethiopia
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Finland Finland
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Germany Germany
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Ghana Ghana
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India India
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Indonesia Indonesia
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Iran Iran
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Iraq Iraq
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Italy Italy
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Kenya Kenya
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Lebanon Lebanon
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Lesotho Lesotho
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Libya Libya
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Lithuania Lithuania
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Malaysia Malaysia
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Morocco Morocco
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New Zealand New Zealand
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Nigeria Nigeria
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Oman Oman
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Portugal Portugal
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Saudi Arabia Saudi Arabia
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Senegal Senegal
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South Africa South Africa
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Spain Spain
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Sweden Sweden
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Syria Syria
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Tunisia Tunisia
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Turkey Turkey
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Ukraine Ukraine
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United Arab Emirates United Arab Emirates
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United Kingdom United Kingdom
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United States United States
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Unknown Country Unknown Country
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Vietnam Vietnam
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Zambia Zambia
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