THE IMPACT OF MONETARY VARIABLES ON THE ECONOMIC GROWTH AND SUSTAINABLE DEVELOPMENT: CASE OF SELECTED COUNTRIES

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F70883521%3A28120%2F17%3A63510220" target="_blank" >RIV/70883521:28120/17:63510220 - isvavai.cz</a>

Alternative codes found

RIV/61384399:31130/17:00051098

Result on the web

—

DOI - Digital Object Identifier

—

Result language

angličtina

Original language name

THE IMPACT OF MONETARY VARIABLES ON THE ECONOMIC GROWTH AND SUSTAINABLE DEVELOPMENT: CASE OF SELECTED COUNTRIES

Original language description

For establishing the best monetary policy it is essential to know if in practice monetary variables determine gross domestic product (GDP) in constant prices. Price stability contributes to the formation of stable environment for the development of commer - cially sustainable activities and expresses the responsibility of central banks for sustainable industrial development. It contributes to maximizing the GDP, employment, stable interest rates and sustainable economic development which have consequences for house- holds’ welfare as well as enterprises’ value maximization. For a set of more monetary variables, we identified that in Romania money aggregates M2 and M3 as well as internal credit were strongly correlated with GDP over the time period 1995:Q1-2015:Q4, while in Slovakia only M2 and M3 were strongly correlated with GDP in the same time period. Contrary to expectations, according to a Bayes- ian linear regression, the internal credit changes had a negative impact on economic growth on the overall period. This conclusion is consistent with other empirical studies. This paper’s analysis discovered that the aforementioned negative correlation is due to the crisis period, because the regime-switching Bayesian model indicated that only in times of economic contraction changes in internal credit negatively affected economic growth

Czech name

—

Czech description

—

Type

J_SC - Article in a specialist periodical, which is included in the SCOPUS database

CEP classification

—

OECD FORD branch

50202 - Applied Economics, Econometrics

Project

—

Continuities

V - Vyzkumna aktivita podporovana z jinych verejnych zdroju

Publication year

2017

Confidentiality

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Name of the periodical

Journal of Security and Sustainability Issues

ISSN

2029-7017

e-ISSN

—

Volume of the periodical

6

Issue of the periodical within the volume

3

Country of publishing house

LT - LITHUANIA

Number of pages

8

Pages from-to

383-390

UT code for WoS article

—

EID of the result in the Scopus database

2-s2.0-85016107793