أثر السياسة النقدية في الأسواق المالية الناشئة

The impact of monetary policy in the emerging financial markets

         The purpose of the research to know the impact of monetary policy the of market emerging financial markets because the financial market constitutes the domain of application and activation of monetary policy through the exercise of their instruments Quantitative (indirect). To control the cluster size of cash and preserve the value of the currency. So seeking developing countries do not stature such as these markets because of their active role in economic development. Are dependent on the activity of each market to raise capital from public and private sectors and guidance towards the development plans to achieve the goals of general economic policies of the state, including the objectives of monetary policy. So research divided into fifth chapters of the first chapter includes the methodology of the research and same of previous studies. The second chapter include. Theoretical background for the study. Addressed the importance of monetary policy in the general economic policies of the state. Being the main influences in the money supply and the change in the money supply affects the investment and saving components bases in stimulating the national economy. And interest from emerging markets to developing countries because of their she active role in economic development. And the relationship between monetary policy variables and indicators of emerging  financial mark     The third chapter were to research analysis  components monetary policy in Malaysia, Indonesia and South Korea, and escorted them from developments and economic events by research period. As well analyzing the evolution of performance indicators for financial markets, emerging markets during the selected period (1995-2009).                       And the extent of their response to changes in monetary policy variables in the selected sample. The fourth chapter was limited to following the standard monetary variables (mone  supply, interest rate, exchange rate, index of consumer prices) in the indicators of the performance of emerging financial markets (the general index of share prices, market value, trading volume). Has been estimated the relationship between the independent variables and dependent and building mathematical models and test the best functions in accordance with the standards and standard statistical method was used multiple regression stages. And include fifth chapter results and regulatory of the results reached by the study, poor oversight and supervision of the Central Bank in a sample study on financial firms and the banking system. Ineffectiveness of monetary policy because of the absence of developed financial markets and the lack of working and poor management of the financial markets. The study recommends activating the regulatory and supervisory role of the Central Bank and the coordination between monetary policy decisions and the negative effects on the financial markets so as to achieve the objectives of monetarypolicy.