تقييم دور البنك المركزي الجزائري في المحافظة على استقرار سعر صرف الدينار الجزائري ومدى انعكاس ذلك على الاستقرار المصرفي: مقاربة قياسية باستخدام نموذج VECM

الملخص EN

This study aims to demonstrate the role of the Algerian central bank in maintaining the stability of the Algerian dinar’s exchange rate and its impact on banking stability during the period of 1990-2018.

using VECM model, the study found a long-term direct relationship between the nominal exchange rate and both inflation and money supply.

while it’s inverse between the nominal exchange rate and the real interest rate.

the study also concluded that the stability of the exchange rate is necessary for the stability of banking system, especially during trade openness and the free movement of capital.