أهمية أدوات السياسة النقدية في التأثير على السيولة في الجزائر : دراسة تحليلية للفترة (2009-2020)‎

الملخص EN

The study aimed to present and analyze the effectiveness of the monetary policy tools applied by the Bank of Algeria during the period (2009-2020) ٫and their importance in influecing liquidity٫especially in light of the distinquished period of the study in the state of instability in the monetary field as a result of fluctuations in oil prices٫ as a source of one of the most important monetary mass interviews (Net External Assets)٫ based on both the descriptive approach and the analytical approach.

The study concluded that the most effective monetary policy tools applied by the Bank of Algeria in influencing liquidity during the surplus period are: the compulsory reserve٫ the liquidity recovery mechanism٫ and the deposit facility٫ while the rediscount and loan tool had no role in affecting liquidity during the period٫during this period٫ as the liquidity deficit period٫ the Bank of Algeria relied on liquidity injection tools٫ most important of which is the open market٫ in addition to the unconventional fanincing process.