Politique monétaire et croissance économique

Une perspective globale et sectorielle de la Tunisie

  • Hassen GUENICHI ISIG-K
  • Hamdi KHALFAOUI Higher Institute of computer sciences and management of Kairouan, Tunisie
Mots-clés: Taux d’intérêt directeur ; croissance économique ; inflation ; relations de long terme

Résumé

Dans cet article, nous examinons de manière empirique l’impact des taux d’intérêt directeur sur la
croissance économique nationale et sectorielle. En utilisant les données trimestrielles tunisiennes
pour la période 2000-2018, nous estimons, dans un premier temps, les relations à long terme à
travers l'analyse VECM et, dans un second temps,nous enrichissons notre étude en introduisant
des variables d'interaction. Nous constatons que le taux d’intérêt directeur influe de manière
significative et positive sur la croissance économique nationale et sectorielle et sur l’inflation. En
particulier, nos résultats montrent que la crise économique et les crédits approuvés influencent
respectivement négativement et positivement le lien entre le taux directeurs et la croissance
économique tunisienne. Enfin, nous montrons que l’impact des changements de politique
monétaire est plus faible en période de crise et amélioré par la hausse du crédit bancaire.

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Publiée
2019-12-30
Comment citer
GUENICHI, H., & KHALFAOUI, H. (2019). Politique monétaire et croissance économique. Journal of Academic Finance, 10(2), 49-68. Consulté à l’adresse https://www.scientific-society.com/journal/index.php/AF/article/view/321
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