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The Relation Between Innovative Policy Instruments And Smes Resilience: Conceptual Analysis

Author

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  • Adil MSADY
  • Mohsine AIT CHEIKH
  • Adam CHATI
  • Zakaria EZ-ZARZARI

Abstract

In recent years, we have been witnessing a succession of economic, financial and health crises on a global scale, the most recent being the 2020 COVID-19 health crisis. Monetary and macroprudential stability policies have been implemented in order to address the harmful effects of these crises on both capital markets and the real economy. In addition, central banks have innovated and mobilized the arsenal of instruments at their disposal for the implementation of new “so-called unconventional” monetary policies in order to influence the economic and financial behavior of private agents and strengthen resilience of SMEs. The aim of the paper is to study the efficiency of traditional monetary measures and emphasize the role of innovative tools in driving the economic growth. various “unconventional” monetary policy measures put in place by the monetary authorities to stimulate economic growth, absorb health and financial shocks and strengthen the resilience of SMEs are analyzed.

Suggested Citation

  • Adil MSADY & Mohsine AIT CHEIKH & Adam CHATI & Zakaria EZ-ZARZARI, 2022. "The Relation Between Innovative Policy Instruments And Smes Resilience: Conceptual Analysis," Eastern European Journal for Regional Studies (EEJRS), Center for Studies in European Integration (CSEI), Academy of Economic Studies of Moldova (ASEM), vol. 8(2), pages 50-67, December.
    • Handle: RePEc:aem:journl:v:8:y:2022:i:2:p:50-67
    DOI: https://doi.org/10.53486/2537-6179.8-2.04
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    References listed on IDEAS

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    More about this item

    Keywords

    Unconventional monetary policies; SMEs; monetary policies; central bank;
    All these keywords.

    JEL classification:

    • E20 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - General (includes Measurement and Data)
    • E50 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - General

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