期刊名称：Journal of Accounting and Finance in Emerging Economies
印刷版ISSN：2519-0318
电子版ISSN：2518-8488
出版年度：2020
卷号：6
期号：3
页码：713-721
DOI：10.26710/jafee.v6i3.1351
语种：English
出版社：CSRC Publishing
摘要：Monetary policy is a significant component of economic management,with which we can control higher inflation,boost the economic growth and stabilize the other macroeconomic activities. This study investigates the channels of monetary policy affecting the industrial production using monthly data of Pakistan. In this regard,we have applied Bound test for co-integration to investigate the dynamic behaviour of the variables. Our results indicate that the consumer prices,money supply and money market rates are negatively effective for industrial production in the short-run. On the other hand, exchange rate has positive effect in short-run. The results also indicate that there is statistically significant and positive relationship between industrial output and money supply in the long-run,too. The adjustment mechanism suggests stability in the system and is statistically significant. Our results imply that the authorities should use expansionary monetary stance through money supply channel to boost the industrial sector.
