اختيار نظام سعر الصرف الملائم للاقتصاد الجزائري في ظل الصدمات النفطية خلال الفترة (1986-2015)‎

الملخص EN

This study aims to find out the appropriate exchange regimes for the Algerian economy during economic fluctuations resulting of oil shocks, because of its dependence to the oil sector by more than 98% of its revenues, wherefore the choice of an appropriate regime can decrease oil shocks impacts on exchange rates movements, through the orientation to one of the extreme poles, the rigid link or the free floating, but the difficulty of both regimes conditions made algeria, such as other developing countries, adopting intermediate regimes that combine transparency and monetary policy independence.

This study found that not all exchange regimes adopted during shocks are appropriate to the Algerian economy, during 1986’s shock algeria adopted gradual crawling that allowed the protection of currency from a sudden collapse, which is more appropriate during resorting to external debt.

And during the 1999’s shock, the managed floating regime wasn’t applied effectively, and during the actual shock the appropriate regime is the managed floating with supplies, which insures transparency and monetary independence at the same time of adopting the inflation targeting policy.