The Impact of Monetary Policy and Tax Revenues on Foreign Direct Investment Inflows: An Empirical Study on Jordan

Mukhtarov, Shahriyar; Alalawneh, Mustafa Mohammad; Azizov, Mayis; Jabiyev, Farid

doi:10.11118/actaun202068061011

Cited by 4 publications

(4 citation statements)

References 19 publications

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“…Other empirical studies by Eijffinger and Geraats (2006) and Mukhtarov et al (2020) also support this relationship between CBI and inflation stability. Thus, the research used data from a number of countries that extend more than 20 years to investigate the effect of CBI on inflation stability.…”

Section: Literature Reviewsupporting

confidence: 54%

The relationship between monetary stability and central bank independence: The case of Azerbaijan

Tanriverdi,

Jabiyev,

Bilan

et al. 2024

Banks and Bank Systems

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The independence of the central bank is one of the most important factors for effective monetary policy. Central bank independence is closely related to monetary stability, which is an important part of monetary policy. In this study, the purpose of the analysis is to understand whether monetary stability functions effectively for central bank independence in Azerbaijan using the vector autoregression method. In addition, the Granger Causality test was conducted to empirically investigate how central bank independence affects the provision of monetary stability in the economy of Azerbaijan over the data period from 1996 to 2022. In this framework, indices or variables are the exchange rate stability index (ERS) in 1996–2022, the level of monetary independence index (MI) in 1996–2020, taken from the “trilemma indexes”, which are defined as the consumer price index (CPI) in 1996–2022, and the broad money supply (M2) in 1996–2022. The findings of the study show that the independence of the central bank has a positive effect on the monetary stability of the Azerbaijani economy.

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Section: Literature Reviewsupporting

confidence: 54%

The relationship between monetary stability and central bank independence: The case of Azerbaijan

Tanriverdi,

Jabiyev,

Bilan

et al. 2024

Banks and Bank Systems

Self Cite

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“…Menurut teori, anggaran pendidikan seharusnya memberikan akses kepada masyarakat terhadap pendidikan yang berkualitas dan terjangkau, yang pada gilirannya dapat meningkatkan tingkat melek huruf. Hasil ini tidak sejalan dengan temuan Mukhtarov et al, (2020), yang menunjukkan bahwa pengeluaran pemerintah, terutama di bidang pendidikan, memiliki dampak positif secara statistik.…”

Section: Pengaruh Alokasi Dana Pendidikan Terhadap Pendapatan Perkapitaunclassified

DAMPAK DESENTRALISASI FISKAL TERHADAP INDEKS PEMBANGUNAN MANUSIA DI INDONESIA (Studi pada Kabupaten/Kota Kurun Waktu 2015-2021)

Sofilda,

Hamzah,

Nurhaida

2023

media ekon.

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This study intends to investigate the impact of fiscal decentralization on Indonesia's Human Development Index through per-capita income. The study's focus is on Indonesia's 415 Regencies and Cities from 2015 to 2021. Certain government spending indicators are employed in panel data regression as independent variables using Eviews 9.00. Secondary data were collected from the Central Bureau of Statistics (BPS) and the Ministry of Finance (MoF). The results of model 1 show that of the eight variables used to see their effect on per capita income, there are six variables that have a favorable impact, namely health budget allocations, public service functions, social protection functions, village funds, regional independence and investment, while education fund allocations and the economic function is unable to increase per capita income in Indonesia. The outcomes of model 2 demonstrate that components of model 1's influence on per capita income have a favorable impact on Indonesia's Human Development Index.

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“…However, it is important to note that the inflation rate was an exception to this pattern. Mukhtarov et al (2020) undertook a study aiming to examine how monetary policy and tax revenue affect foreign direct investment (FDI) in Jordan. The researchers utilized time series data covering the period from 1991 to 2017 for their analysis.…”

Section: Literature Reviewmentioning

confidence: 99%

The Role of Monetary Policy in Shaping Jordan's Economic Growth: A Regression Analysis from 2008 to 2022

AL-Tamimi,

Jaradat,

Aityassinec

2023

J. Professional Business Review

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Purpose: The aim of this research is to investigates the correlation between monetary policy and economic growth in Jordan during the period from 2008 to 2022. The study evaluates significant macroeconomic indicators, including inflation rate, interest rate, money supply, and economic growth, within and beyond the specified time frame. The objective of this study is to assess the influence of monetary policy on economic growth through the utilization of the statistical technique of least squares regression. Accurate results are obtained using EViews, a widely recognized statistical program. The data for this study is sourced from reputable institutions such as the World Bank and Trading Economics. Theoretical framework: The importance of this study holds great significance as it aims to examine the link between monetary policy and the growth of the economy, a topic that has been the subject of extensive theoretical and policy discussions among economists over a significant period. Given the current economic conditions characterized by slow growth and concerns about potential deflation, as well as perceived constraints on economic policies, there is heightened interest in understanding this relationship. Consequently, the debate surrounding this issue has occasionally become intense and contentious. Design/Methodology/Approach: The Methodology plays a crucial role in scientific research as it provides researchers with a framework to follow in order to achieve objective and reliable results. The choice of methodology may vary depending on the academic discipline, with each approach having its own unique characteristics and functions that are utilized by researchers in their respective fields of specialization. In the context of this particular study, a descriptive approach was adopted for the theoretical aspect, while an analytical approach was employed for the practical aspect. By collecting macroeconomic indicators as time series data from 2008 to 2022, the study aimed to investigate the interconnection implementation of monetary policy and the growth of the economy. To examine the stability of the variables, unit root tests were employed, and the data utilized in the study was obtained from reliable sources such as the World Bank and Trading Economics. Findings: The result of this analysis reveals significant findings regarding the influence of various factors on economic growth from 2008 to 2022. The findings reveal a statistically significant negative association between the inflation rate and economic growth, with a significance level of 0.05. Based on this finding, the null hypothesis (H0) is rejected in favor of the alternative hypothesis (H1). However, the study determines that the impact of the interest rate on economic growth is not statistically significant at the 0.05 significance level. Consequently, the null hypothesis (H0) is accepted, and the alternative hypothesis (H1) is rejected. Finally, the analysis reveals a statistically significant positive relationship between money supply and economic growth, with a significance level of 0.05. As a result, the study rejects the null hypothesis (H0) and supports the alternative hypothesis (H1). These findings offer valuable insights into the connection between monetary policy and economic growth within the specified timeframe. The study highlights the need for further comprehensive research on the factors influencing the growth of the Jordanian economy. Specifically, it emphasizes the importance of investigating various indicators of monetary policy and their effects on economic growth in Jordan. It is recommended to consider inflation rate policies and implement economic reform measures to mitigate the adverse impacts of inflation on economic growth in the country. Furthermore, careful attention should be given to money supply and the policies implemented by relevant institutions, particularly regarding the circulation of money, due to its positive influence on economic growth. Research, practical & social implications: The aims of this study is to examine the interplay between various monetary policy instruments and the dynamics of economic growth, with a specific focus on the context of Jordan. The objective of this study is to assess the influence of monetary policy on economic growth through the utilization of the statistical technique of least squares regression. Accurate results are obtained using EViews, a widely recognized statistical program. The data for this study is sourced from reputable institutions such as the World Bank and Trading Economics.

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The Impact of Monetary Policy and Tax Revenues on Foreign Direct Investment Inflows: An Empirical Study on Jordan

Cited by 4 publications

References 19 publications

The relationship between monetary stability and central bank independence: The case of Azerbaijan

The relationship between monetary stability and central bank independence: The case of Azerbaijan

DAMPAK DESENTRALISASI FISKAL TERHADAP INDEKS PEMBANGUNAN MANUSIA DI INDONESIA (Studi pada Kabupaten/Kota Kurun Waktu 2015-2021)

The Role of Monetary Policy in Shaping Jordan's Economic Growth: A Regression Analysis from 2008 to 2022

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