العلاقة بين تطور البورصة و النمو الاقتصادي في الجزائر : مقاربة باستعمال نماذج VAR خلال الفترة 1999-2019

الملخص EN

financial market represents a mainstay for the economic sectors of any country, whether developed or developing, due to its ability to mobilize savings and allocat it towards efficient investments.

This study examines the nature of the relationship of growth of the Algerian Stock Exchange with economic growth, using var models, and this is based on indicators of capital market efficiency, to know the extent of development and growth of Algerian Stock Exchange during the period1999-2019.

This study reached a set of results, the most important of which are: the ence of a clear relationship between stock market growth and economic growth, due to its inefficiency and also the lack of diversification of investment opportunities in it, and the dependence of the Algerian economy on indirect financing (debt economy), and also the inability of the Algerian Stock Exchange to mobilize the savings needed for investment Hence, the fragility of financing and investing in it.