The Effect of Monetary Policy on Economic Growth in Lao PDR

Khaysy Srithilat, Thipphavanh Samatmanivong, Vaiyoth Lienpaserth, Phiengsanith Chanthavixay, Visanu Boundavong and Vonsy Douangty
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Khaysy Srithilat: Faculty of Economics and Business Management, National University of Laos, Lao PDR,
Thipphavanh Samatmanivong: Bank of the Lao PDR, Lao PDR,
Vaiyoth Lienpaserth: Faculty of Economics and Business Management, National University of Laos, Lao PDR,
Phiengsanith Chanthavixay: Faculty of Economics and Business Management, National University of Laos, Lao PDR,
Visanu Boundavong: National Institute for Economic Research, Lao PDR.
Vonsy Douangty: Faculty of Economics and Business Management, National University of Laos, Lao PDR,

International Journal of Economics and Financial Issues, 2022, vol. 12, issue 1, 67-74

Abstract: The empirical analysis of this study examines the dynamic effect of monetary policy on economic growth in Lao PDR. This study uses Vector Autoregressive Model (VAR) and quarterly data from the first quarter of 1995 to the last quarter of 2018. The empirical results show a notable effect of monetary policy on economic growth in the Lao economy. An expansionary monetary leads to lower on interest rate, and increase aggregate credit and prices in the Lao economy. However, economic growth is found to be negative in responding to expansionary monetary policy.

Keywords: Monetary policy; Economic growth; Lao PDR (search for similar items in EconPapers)
JEL-codes: E31 E44 E52 G18 (search for similar items in EconPapers)
Date: 2022
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