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has been cited by the following article:

• TITLE: The Effect of Monetary Policy on Economy Growth of WAEMU Countries

  AUTHORS: Franck Edouard Gnahe, Fei-Ming Huang

  KEYWORDS: Monetary Policy, Growth, WAEMU, DOLS, FMOLS

  JOURNAL NAME: Open Journal of Business and Management, Vol.8 No.6, November 17, 2020

  ABSTRACT: This paper examines the relationship between economic growth and monetary policy. Using panel cointegration structure for the eight West African Economic and Monetary Union (WAEMU) countries, we examine the impact of monetary policy on growth covering the period of 1988-2018. The results from estimation analysis showed that money supply and gross fixed capital formation had positive and significant impact on economic growth. The finding also shows that the real interest rate had significant effect on economic growth. The domestic credit to the private sector and the official exchange rate indicated a positive and statistically significant effect on economic growth.