USING THE ARDL AND ECM MODELS TO MEASURE THE IMPACT OF FINANCIAL AND MONETARY POLICIES ON THE DOMESTIC SAVING IN EGYPT
Mamdouh Abdel Alim Saad Mowafy; Hanaa Hussein Ali Aboul Ela;
Abstract
This study is aimed at measuring the impact of financial and monetary
policies on saving in Egypt during the period from 1970 to 2017. In
addition, the relative importance of each of them and their role in
mobilizing savings that help in finance investments and raise the rate
of Egyptian economic growth has been noticed. The results of the
study showed Johansen maximum likelihood (JML) and bounds test
(BT) that there is co-integration between the model variables on the
long run. In light of this, the autoregressive distributed lagged (ARDL)
model was used to estimate long run relationships between model
variables. Error correction model (ECM) was used to estimate short
run relationships between variables. The results of the study also
showed that there is a positive and significant impact of both gross
domestic product (GDP) and workers’ remittances from abroad on do rate on deposits and monetary supply on domestic savings. Finally, it was found that there is a negative insignificant effect between saving
and inflation rate.
policies on saving in Egypt during the period from 1970 to 2017. In
addition, the relative importance of each of them and their role in
mobilizing savings that help in finance investments and raise the rate
of Egyptian economic growth has been noticed. The results of the
study showed Johansen maximum likelihood (JML) and bounds test
(BT) that there is co-integration between the model variables on the
long run. In light of this, the autoregressive distributed lagged (ARDL)
model was used to estimate long run relationships between model
variables. Error correction model (ECM) was used to estimate short
run relationships between variables. The results of the study also
showed that there is a positive and significant impact of both gross
domestic product (GDP) and workers’ remittances from abroad on do rate on deposits and monetary supply on domestic savings. Finally, it was found that there is a negative insignificant effect between saving
and inflation rate.
Other data
| Title | USING THE ARDL AND ECM MODELS TO MEASURE THE IMPACT OF FINANCIAL AND MONETARY POLICIES ON THE DOMESTIC SAVING IN EGYPT | Authors | Mamdouh Abdel Alim Saad Mowafy; Hanaa Hussein Ali Aboul Ela | Keywords | the saving;Egyptian economy;autoregressive distributed lagged (ARDL) model;error corrected model (ECM) | Issue Date | 29-Jan-2020 | Publisher | Pushpa Publishing House, Prayagraj, India | Journal | Far East Journal of Theoretical Statistics | Volume | 58 | Issue | 1 | Start page | 37 | End page | 58 | DOI | https://orcid.org/0000-0001-8856-9610 |
Attached Files
| File | Description | Size | Format | Existing users please Login |
|---|---|---|---|---|
| USING THE ARDL AND ECM MODELS TO MEASURE THE IMPACT OF FINANCIAL AND MONETARY POLICIES ON THE DOMESTIC SAVING IN EGYPT.pdf | 478.94 kB | Adobe PDF | Request a copy |
Similar Items from Core Recommender Database
Items in Ain Shams Scholar are protected by copyright, with all rights reserved, unless otherwise indicated.