دراسة قياسية للعلاقة بين سياسة سعر الصرف و الكتلة النقدية M2 في الجزائر خلال الفترة (1990-2018)‎ باستخدام VECM

الملخص EN

Exchange rate policy is one of the most important policies because it largely spans them from the government priorities at the international and local levels, as well as its relation with the monetary stability indicators, the most important of which is the monetary bloc.

The study is therefore intended to explain the relationship between the exchange rate policy and the monetary bloc in Algeria during the period 1990/2018, using Granger's causality, as well as the Johansen test and the VECM model.

Results have produced a one-way causal relationship from the M2 to the exchange rate, a single long-term equilibrium relationship at a notional level of 5%, according to the Johansen test, and the VECM test showed a long-term causal relationship going from the M2 to the dependant variable.