: 10.56472/25835238/IRJEMS-V5I6P102
Iyad A. Al-Nsour. "The Economic Consequences of Returned Checks in Jordan An Econometric Analysis for 2000 - 2025" International Research Journal of Economics and Management Studies, Vol. 5, No. 6, pp. 7-22, 2026. Crossref. http://doi.org/10.56472/25835238/IRJEMS-V5I6P102
This study aims to analyze the relationship between returned checks and economic growth within the broader context of financial and macroeconomic dynamics. Specifically, the study seeks to examine the role of returned checks as an indicator of the volume of commercial transactions and financial activity in the economy, as well as to investigate their impact on economic growth alongside several key macroeconomic variables, including bank credit, interest rates, inflation, investment, and government expenditure. To achieve the objectives of the study, the Autoregressive Distributed Lag (ARDL) model was employed, as it allows for examining both short-run and long-run relationships among the variables. The empirical results indicate that most of the variables under investigation do not exhibit statistically significant effects on economic growth in the short run, suggesting that their impacts require time to be transmitted to the real economic sector. In contrast, the long-run results reveal more stable relationships between the economic variables and economic growth. The findings indicate a positive long-run relationship between returned checks and economic growth, which may be explained by the association between returned checks and the expansion of commercial transactions and the increased use of banking payment instruments within the economy. This, in turn, reflects a higher level of commercial and economic activity. Additionally, the results reveal positive relationships between economic growth and variables such as bank credit and investment, while government expenditure shows a negative relationship with economic growth in the long run. Overall, the findings suggest that returned checks can serve as an economic indicator associated with the level of commercial and financial activity in the economy. Understanding their impact on economic growth, therefore, requires a dynamic analytical framework that accounts for the differences between short-run fluctuations and long-run economic relationships.
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Returned Checks, Economic Growth, Fiscal Policy, Monetary Policy, Jordan.