The effect of some short-term debt instruments on the money supply and its effect on the production of wheat crop in Iraq during the period (1990_2018).
DOI:
https://doi.org/10.33095/jeas.v26i122.2014Keywords:
: Central treasury transfers, Cash credit granted to the government by commercial banks, Money supply, Wheat crop production, ARDL.Abstract
The research aims to show the effect of some short-term debt instruments (central treasury transfers, cash credit granted to the government by commercial banks) on the production of the wheat crop in Iraq, through its effect on money supply during the period (1990-2018), As the study includes two models according to the statistical program (Eviews9), the first model included measuring the effect of short-term debt instruments on money supply, and the second measuring the extent of the money supply's impact on Wheat crop production, as the results of the standard analysis showed that the short-term debt instruments used in the model were Significant effect on wheat crop production indirectly through its effect on money supply, As the value of (R2=0.99) and (R2=0.82) respectively in the two models indicates that (99% and 82%) of the changes occurring in the dependent variables are due to the changes in the independent variables included in the two models respectively, and the remaining ratio is due to non-variables Included in the two models is the random variable, Also the value of (F =231.2072) and (F =13.80497) for the two models, respectively at the level of significance of 5% and the probability value (Prob = 0.000) indicates that there is a common complementarity between the variables included in the two models, which means that there is a long balanced relationship The term, as the value of (DW = 1.853668) and (DW = 1.468781) Which (3 > DW > -3) for the two models, respectively showed that there is no problem of self-correlation of the random variable values, and this means that monetary policy affects the increase in the production of the wheat crop through its use of one of its specific tools to support the agricultural sector By converting the increase in the money supply towards encouraging increased Wheat crop production as a necessary commodity for consumption in Iraq.
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