IDENTIFYING AND RANKING FACTORS AFFECTING THE IMPLEMENTATION OF MONETARY AND BANKING POLICIES (CASE IN IRAN)

Abstract

This paper seeks to identify the factors affecting the implementation of monetary and banking policies. In this paper, at first, according to the theoretical bases of research and taking the experts’ opinion in the field of policy making and money and bank experts, by using exploratory interviews method as well as Quivy and Campenhoudt (1988) scientific research approach, 36 effective indicators in the form of 7 factors were identified and extracted. Then, based on the identified indicators, a questionnaire with 42 questions was prepared and 176-individual sample size selected from the statistical population including the experts in the field of money and bank and policy making was asked to comment about the effectiveness of each one of the indicators on the implementation of monetary and banking policies in Iran. Finally, the results of Friedman's ranking test by using SPSS statistical software showed that the factors; Implementers’ skills and behavioral characteristics, Policy determination and goal setting and Ability of policy makers had the most effect on the implementation of monetary and banking policies.