The impact of bank savings and domestic credit on GDP (for selected countries for the period (2004-2018))
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Abstract
The research focused on showing the impact of both domestic credit and savings on the gross domestic product for the period 2004-2018 (Iraq, the United States of America, Hong Kong). Three countries were chosen, Iraq because it is a very weak country in terms of the banking system, and the United States as it has a gross domestic product first in the world, while Hong Kong is the first in the world in terms of domestic credit. The standard applied procedure was carried out using the eviws9 program, and a self-regression test was conducted. The study found the percentage of the impact of domestic credit and savings on the domestic product (47% in the United States, 45% in Hong Kong, 49% in Iraq), and despite the availability of savings in large values Very much in the United States, but domestic credit was not in proportion to the existing savings. The study recommends the need to reconsider the banking system by those in charge of the Iraqi banking system. Hong Kong must take all necessary precautions for any emergency that occurs that causes the abandonment of foreign companies, and consequently, local credit will be affected in particular and the local economy in general because capital is cowardly and looks for opportunities available in every country to help it. The study also recommends investing savings in the United States of America more in domestic credit and thus in investments that increase GDP.
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