Journal of Business & Economic Policy

Retrospective Analysis of the Effects of Monetary Impulses on Economic Growth in Mali
Ibrahima DIALLO

Abstract
In a context of financial liberalisation, monetary policy is essentially based on central bank policy rates. It is therefore important to ensure that changes in key interest rates are properly transmitted.This paper empirically analyses the contribution of monetary impulses to economic growth in Mali over the period 1970 – 2009. In terms of methodology, weused an error correction model (ECM). In general, the results show a relative inefficiency of the BCEAO's key rate policy on economic growth in Mali. In addition, an increase in credit to the economy leads to an increase in gross domestic product in the short and long term. In fact, for economic activity in Mali to be adjusted, active use of the money market rate is necessary.

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