فعالية السياسة النقدية و المالية في الجزائر : دراسة قياسية للفترة (1990-2017)‎

الملخص EN

C32 This research aims to study the relative effectiveness of monetary and fiscal policy in Algeria using the joint integration technique and the error correction model during the period (1990-2017).

To achieve the goal, we used fiscal policy variables (government spending and net taxes on goods), monetary policy variables (monetary mass, official exchange rate and inflation rate) and GDP as a proxy for economic growth.

The results concluded that there is a positive impact of government spending, taxes and the rate of inflation on economic growth.

In addition, we found that there is an effect of monetary growth on the domestic product, but the exchange rate variable has no effect on growth in Algeria, which means that fiscal policy is more effective and has an impact on economic growth in the long term than monetary policy in Algeria.

However, the effect of monetary policy appears in the short term, due to the ease of adjusting monetary policy to economic conditions.

As for the effect of the fiscal policy, it requires a period of time in order to show its effect, because taking measures regarding the fiscal policy needs a long period.

JEL classification codes: : E52, E63, C32