ANALYSIS AND IMPACT OF MONETARY POLICY DURING COVID-19 AND PRE COVID-19 ON ECONOMIC GROWTH– A CASE OF SULTANATE OF OMAN
Author(s):
Umar Ali Khan, Al Hussain Saqar Al-Rashdi, Issa Rafiq Al-Balushi, Moosa Ali Al-fulaiti, Mundhir Hassan Alhabsi
Keywords:
Money, Crisis, Monetary policy, Constraints.
Abstract
The purpose of monetary policy as a strategy of economic management is to achieve long-term economic growth and development. As noted by Onyewu (2012), this was the chase of states and the formal illustration of how money effects economic numbers. This viewpoint extends back to Adam Smith's time and was later supported by monetary economists. Since describing the function of monetary policy in impacting macroeconomic goals such as economic growth and development, including job creation, price stability, GDP growth, balance of payments balance, and a variety of other monetary authorities. It is primarily responsible for utilizing monetary policy to design and implement strategies aimed at bringing the economy back into balance. Furthermore, monetary policy is not the only factor affecting GDP, employment, and prices. Many additional factors influence aggregate demand and supply, and hence the economic position of sectors of the economy. Some of these factors, such as shifts in economic growth, creditor positions, environmental catastrophes, disruptions in the oil market that reduce supply, agricultural losses, and slowdowns in productivity growth, can be expected and integrated into spending and other economic decisions. They are absolutely unexpected and have an unforeseen impact on the economy.
Article Details
Unique Paper ID: 155199

Publication Volume & Issue: Volume 9, Issue 1

Page(s): 279 - 287
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