文章基本信息

标题：Coordination or Dominance of Fiscal and Monetary Policy in Egypt
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作者：Emad Omar Elhendawy
期刊名称：International Journal of Economics and Finance
印刷版ISSN：1916-971X
电子版ISSN：1916-9728
出版年度：2019
卷号：11
期号：12
页码：28-36
DOI：10.5539/ijef.v11n12p28
出版社：Canadian Center of Science and Education
摘要：This study investigates to what extent of coordination between the fiscal and monetary policies in Egypt in the period 1980-2017, it has been adopted in its methodology on the vector error correction and Granger causality test. It concludes that there is a significant relation between money supply and budget deficit on one hand and inflation on the other hand, and that fiscal policy is dominant in monetary policy, as a change of 10% of the budget deficit results in an increase in the inflation rate of 8.1%. As for the Granger causality test. Thus stresses the existence of causal relationship to one direction of inflation against both the budget deficit and the money supply, which affects the budget deficit in the second slowdown. Then it feeds the budget deficit and inflation in the third year, which in turn feeds the budget deficit in the fourth year and the causal relationship between inflation and money supply has concluded that there is a one-way causal relationship of money supply to inflation after four slows and then inflation affects the money supply from the fifth to the tenth slowdown. As for the relationship of the budget deficit to money supply, there may be a one-way causal relationship between the budget deficit and the money supply from the second to the tenth year, except the third year, which also confirms the dominance of fiscal policy on monetary policy in Egypt in the period under consideration.
关键词：fiscal policy; monetary policy; VEC; Granger causality test; Egypt