اتجاهات الدين الحكومي وتاثيرها على السياسة النقدية : العراق حالة دراسية للمدة (1990 - 2013) == Government Debt Trend And Its Impact On Monetary Policy Iraq As Case Study For A Period (1990 - 2013)
Author name:
نسرين حسن جوحي
Supervisor name:
عماد محمد علي عبد اللطيف العاني
General topic:
Administration and Economics
Specific topic:
Economy
Degree:
Master
University:
University of Baghdad - Faculty Of Administration And Economics
Language:
Arabic
University location:
Baghdad
First pages:
07T4119 - p.pdf
Abstract:
يركز البحث على توضيح اتجاهات الدين الحكومي وتاثيرها على السياسة النقدية, كون الدين الحكومي يمثل احد مصادر تمويل عجز الموازنة الحكومية الى الحد الذي قد يؤثر على استخدام ادوات ومتغيرات السياسة النقدية بهدف السيطرة على حجم عرض النقد وسعر الفائدة ومكافحة ال | The research concentrate on government debt and its impact on monetary policy based on the fact that government debt represents one of the finance sources to government budget deficits to the extent that may affect the use of monetary policy tools and their variants in order to control money supply volume and interest rates and control on inflation also the stability of the currency value, so the research problem is in the non - use of government debt tools as one of the most supportive of monetary policy in Iraq on one hand, and the weakness of monetary policy from other hand by its traditional tools that depends on exchange rates to support the stability of local currency value. To reach the target the research seeks, we must put a deliberate policy of government debt lead to support monetary policy through issuance securities, which aims to withdrawal of the money supply in inflation time in one hand, and lead to invest excess reserves at commercial banks in productive projects that serves national economics and thus leads to the stability of the monetary and financial side. The study reached an important conclusion, is that the continuing deficit in the government budget occurrence was not an accumulation of government debt so the government debt represents in research time is not the main cause that impact on monetary policy variables but the main cause is the increasing of government spending, so the government seeks to finance deficit by monetary authority represents by central bank although the government debt is still relative low which means that government debt affect is very limited on monetary policy. The most important recommendations refers to stop borrowing from central bank in order to finance government expenditures but must finance government debt from non - inflationary sources ( treasury bonds and remittance) to control inflationary excess liquidity restriction and revitalization of open market operations and work t o use government debt money in productive not consumer investments.
