دراسة طبيعة العلاقة بين إدارة النقد و الإحتياطيات الأجنبية و الإئتمان المصرفي و إنعكاسها على النمو الاقتصادي) دراسة بلدان متقدمة وناشئة مع الاشارة الى العراق للمدة (1991-2022)

Studying the nature of the relationship between cash management, foreign reserves and bank credit and their reflection on economic growth) Study of selected countries with reference to Iraq

The study aimed to discover the nature of the relationship between cash management, foreign reserves, and bank credit and the reflection of their variables on economic growth, as the relationship represents important economic variables that have a prominent impact on monetary policy-making and a major impact on the ultimate goals of the economy in general and economic growth in particular. The study relied on the hypothesis that there is a causal relationship between cash management, foreign reserves, and bank credit, and their variables are reflected in economic growth. The researcher relied on a number of developed and emerging countries in the sample to conduct standard tests and extract results from them for the period (1991-2022). The researcher used the joint integration test (Johansen) to discover the long-term relationship and the causality test (Toda yama moto) to determine the trends of the causal relationship between the variables, while the standard (ARDL) model was used to determine the impact of monetary variables on economic growth. The researcher reached a number of results, the most important of which is that there is a bilateral and unidirectional causal relationship between the research variables, and there is a variation in the direction of the causal relationship from one country to another due to the structural differences in the economy of each country. The researcher also concluded that monetary management and bank credit have an impact on economic growth in the short and long term in all sample countries, while the impact of foreign reserves on economic growth was limited in the long term. Therefore, central banks should use their monetary tools in a way that creates an effective harmony between monetary management and bank credit to achieve monetary goals, and that monetary control and credit stimulation should be within specific frameworks that enable them to influence economic growth and provide protection from risks. Foreign reserves should also be subject to strict standards that would make them influential in other monetary variables and ultimate goals, the most important of which is economic growth.