Abstract
The study examined the effect of monetary policy on economic growth in West African countries covering the period of 2000-2023. The study applied the panel Auto Regressive Distributed Lag (ARDL) model of mean group, dynamic fixed effect, and Hausman test. The study revealed that the exchange rate has significant effect on economic growth in both the short and long run, it was discovered that monetary policy has positive and significant effect on economic growth in the short run while lending interest rate had inverse and insignificant effect on growth. The study further revealed that broad money supply had a significant effect on economic growth while deposit interest rate had insignificant impact on growth. Exchange rates, monetary policy rates, and money supply were discovered to be the major instruments of monetary policy that influence economic growth. The study recommends that policy makers should manage exchange rate effectively so as to promote exports, central banks should lower their interest rate (MPR) to encourage borrowing and investment, and there should be proper coordination of deposit interest rate and lending interest rate so as to encourage investment which in the long run will influence economic growth in West African countries.