Polityka monetarna a wzrost gospodarczy w Japonii w latach 1999–2016
Monetary Policy and Economic Growth in Japan in the Period of 1999–2016
Author(s): Sławomir I. BukowskiSubject(s): National Economy, Governance, Economic history, Economic policy, Economic development, Financial Markets
Published by: Społeczna Akademia Nauk
Keywords: monetary policy; interest rates; monetary aggregate; foreign exchange; GDP; model VAR;
Summary/Abstract: In this article, the results of research concerned impact of Bank of Japan monetary policy on the GDP growth in the period of 1999-2016. The main aim of that research was to answer the question: if and in which way quantitative easing policy and policy of low interest rates influenced GDP growth in Japan. For this purpose the author implemented econometric analysis based on the VAR model. That analysis indicated that Bank of Japan monetary policy influenced GDP growth in the relatively small degree in the period of 1999-2016. Impact of M3 changes was much higher than interest rates policy on the GDP growth.
Journal: Przedsiębiorczość i Zarządzanie
- Issue Year: 19/2018
- Issue No: 2.2
- Page Range: 183-195
- Page Count: 13
- Language: Polish