تأثير السياسة النقدية على سوق الخرطوم لألوراق المالية باستخدام نموذج الانحدار الذاتي للإبطاء الزمني الموزع Ardl في الفترة من (02:2020-03:2007م)
Year: 2026
Type: article
Abstract: The study aimed to analyze the impact of monetary policy on the performance of the KhartoumStock Exchange during. the study period 02:2020-03:2007 ,using the Autoregressive DistributedLag (ARDL) model. and to examine the nature of the relationship between monetary policyinstruments and the financial in Sudan. The study relied on monthly data for the variables of money supply. Exchange rate, and the Khartoum Stock index. unit root tests were conducted toexamine the stationary of the variables. The ARDL model was then estimated, and the optimallag lengths were selected using the BIC and AIC criteria. The Bounds test was applied to assesscointegration, followed by the estimation of both short-run and long-run relationships, and theextraction of the error correction term (ECM) using the error correction model. The results ofthe study revealed the existence of a long-run equilibrium relationship among the studyvariables. The findings showed that money supply has a positive and statistically significanteffect on financial market performance.in the short run, the results indicated dynamic effects ofthe independent variables. Furthermore, the error correction model confirmed a relatively rapidadjustment of the system back to equilibrium after any short-term disequilibrium. The studyrecommends the need for effective coordination between monetary and fiscal policies in additionto developing financial markets and improving the efficiency of the financial market.
Institution: University of Bakhtalruda
Language: Arabic
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W7220475190