Measuring the impact of some monetary policy variables on the trading of companies' shares in the financial markets for the period 2000-2020 (middle-income countries as a model)
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Abstract
The research problem lies in that the trading of company shares in the financial markets is affected by various factors, the most important of which are the decisions of the monetary authorities, as the productivity and growth of these companies is related to the various monetary variables. Therefore, the research aims to show which of the monetary policy variables have the most impact on stock trading, which reveals which policies are the most effective. To achieve the goal of the research, it was divided into a theoretical framework dealing with the relationship between the research variables. An analytical one to study the trend of time development of monetary policy variables as well as the variable of traded stocks, and a standard aspect of studying the statistical significance of the impact of monetary policy variables on the variable of traded stocks during the research period. The research found a positive relationship between the money supply variable and traded stocks, while there is no positive relationship between the exchange rate and inflation variables with traded stocks. Thus, the research suggests that the monetary authorities should carry out evaluative measures to show the negative effects and expected benefits of monetary policy decisions on the shares of companies traded in the financial markets.
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