The impact of the independence of central bank on some Economic variables college in the Iraqi economy for the Period (2017-2005).

The central banks are important in stabilizing the general level of prices of goods and services as well as achieving some of the goals at the macro level such as growth and unemployment, etc. So both developed and developing countries have been quick to grant their central banks a great degree of independence to enable them to perform their functions optimally Iraq is one of these countries seeking independence in the framework of monetary and economic correction policies after 2003 with the issuance of Law No. 56 of 2004, which regulated currency in order to allow the Central Bank to perform its functions of drawing and preparing monetary policy in accordance with economic conditions and requirements. The purpose of this study is to highlight the role of the Central Bank in the formulation and implementation of monetary policy in achievement of independence In order to achieve the research objective, which is completed in the development of a comprehensive framework to define the concept of independence and knowledge of criteria and indicators that refer the independence of the Central Bank and its impact on monetary policy and the proof of the research hypothesis, was based on that the independence of the bank archives The stability of the general level of prices has been implemented and the precautionary measures have been applied to control the supply of money. The hypothesis of the research was proved and that the Central Bank of Iraq obtained independence by 66%, which is very good compared to the independence of other countries. The standard analysis also showed an inverse and moral relationship between inflation And independence with the marginal slope of the inflation rate for independence (-36.266) and the value of the R²-factor of 88%. The analysis also showed a positive and moral relationship between the M1 money supply and independence. The marginal value of the cash offer was 5.22408, Hope selection R²(0.16) It was also found that there was a direct and moral relationship between the legal reserve and the independence. The ^margi2nal value of the legal reserve was 66.707 and the value of R² (0.45) and the inverse relationship with the price of the policy was R² (0.22) R² (0.77) is an inverse and moral relationship and statistical tests show that there is consistency in the estimated models [ABSTRACT FROM AUTHOR]