The Impact of Monetary Policy on Economic Development: Evidence from Lao PDR

Khaysy Srithilat; Gang Sun; Maketta Thavisay

The Impact of Monetary Policy on Economic Development: Evidence from Lao PDR

Khaysy Srithilat * §

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Gang Sun

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Maketta Thavisay

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Dongbei University of Finance and Economics

The Impact of Monetary Policy on Economic Development: Evidence from Lao PDR

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Abstract

This paper examines the impact of monetary policy on the economic development by using annual time series data from 1989-2016. The unit root testing result suggests that all variables are stationary at first difference; therefore, the Johansen Cointegration and Error Correction Model has been employed to analyze the association between variables. The finding shows that money supply, interest rate and inflation rate negatively effect on the real GDP per capita in the long run and only the real exchange rate has a positive sign. The error correction model result indicates the existence of short run causality between money supply, real exchange rate and real GDP per capita.

References

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Funding

No external funding was declared for this work.

Conflict of Interest

The authors declare no conflict of interest.

Ethical Approval

No ethics committee approval was required for this article type.

Data Availability

Not applicable for this article.

How to Cite This Article

Khaysy Srithilat, Gang Sun, Maketta Thavisay. 2017. "The Impact of Monetary Policy on Economic Development: Evidence from Lao PDR". Global Journal of Human-Social Science - E: Economics GJHSS-E Volume 17 (GJHSS Volume 17 Issue E2).

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Journal Specifications

Crossref Journal DOI 10.17406/GJHSS

Print ISSN 0975-587X

e-ISSN 2249-460X

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Classification

GJHSS-E Classification FOR Code: 140202

Submission ReceivedDecember 6, 2016
Peer Review Double Blind
Handling Editor
Accepted January 3, 2017
Published January 15, 2017

Version of record

v1.2

Issue date

May 3, 2017

Language

English

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Article Matrices

Total Score: 133

Country: China

Subject: Global Journal of Human-Social Science

Authors: Khaysy Srithilat, Gang Sun, Maketta Thavisay (PhD/Dr. count: 0)

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Publish Date: 2017 01, Sun

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