THE RELATIONSHIP BETWEEN ECONOMIC GROWTH AND ITS MONETORY DETERMINANTS IN IRAQ FOR THE YEARS 2003-2018

Abstract

The search a round of economic growth determinants has been in the real economy field where investment and gross domestic production are mutually reinforcing and reflecting the potential of the other, and monetary factors have not received the attention they deserve until the moment (Keynesianism emerged with its well-known principles and innovative mechanisms after the great economic crisis of 1929. The found of the money effectiveness as an independent variable has provided intellectuals and researchers with a valid analytical tool to diagnose the invisible factors that stimulate economic growth away from the traditional vision based on historical experience and fossilized philosophical vision at the limits of its formal control logic. All that can be said in this regard is that money is not symbolically given, but an economic variable, like other variables, that affects and is affected. Therefore, it cannot be marginalized or excluded from the general format of the analytical structures and is considered a secondary variable, which is determined by the actors of other factors. The research aims to investigate the roots of the impact of monetary instruments on the economic growth in Iraq, whether those intended by the monetary authorities to achieve the drawn objectives or instruments developed it's impacts spontaneously and through the interaction between macroeconomic variables, based on hypothesis that: "Monetary factors have a role in determining the value and trends of economic growth in Iraq is
as important as the role of other factors set forth in the economic literature