المحددات الخارجية لاحتياطات الصرف الرسمية بالجزائر : دراسة قياسية للفترة 1990-2018

الملخص EN

The study aims to determine the external factors which influence the official exchange reserves in Algeria Considering it is determined by internal factors such as imports, exports, debt.

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and other external factors.

The most important external determinants that the study aims to measure its impact on official exchange reserves are FDI and oil prices.

The study concluded that the explanatory capacity of foreign direct investment and oil prices represented 88% of the fluctuations in official exchange reserves in Algeria, and the major part of the impact is due to oil prices, which is clearly demonstrated in the significant relationship between them and the official exchange reserves, which was demonstrated in the Cranger causality test.

This, while the study showed the ence of cointegration between the variables of the model.