أثر السياسة النقدية على التوازن الخارجي في الجزائر خلال الفترة 1990-2018

الملخص EN

This paper examines the impact of monetary policy on the external balance in Algeria during the period 1990-2018.

Using ARDL Approach.

The empirical findings show that monetary policy has a positive impact on the balance of payments in the short- run and a negative effect in the long- run.

It was also concluded that the dinar devaluation did not contribute to improving the balance of payments position.

Moreover, the results reveal that oil prices have a very important positive impact on the balance of payments.

The error correction rate of 127% indicates the speed of adjustment towards long- run balance.