Whether monetary policies
implemented in contracting periods are pro-growth and in
what situations they will be effective is a matter of debate. However,
especially during and after the 2008 crisis, policy sets have become
increasingly diversified, and not only traditional but also non-traditional
policies have begun to be used extensively. In this study, answers to the
effectiveness of monetary policy on global growth were sought both at the
theoretical level and the policies examined with extensive country examples.
Although policies have diversified in the final view, the effectiveness of the
harmony in monetary policies on global growth can be seen in these periods.
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