أثر السياسة النقدية و المالية على دفقات الاستثمار الأجنبي المباشر في الجزائر : دراسة قياسية للفترة (1990-2012)‎

الملخص EN

This study is mainly aimed to the impact of monetary and fiscal policy on inward FDI to Algeria during the period flows survey (1996- 2012).

Through the application of self-regression vector model (VAR) on annual data, was chosen as the re-discount rate, the block Cash (M2) and exchange rate variables for monetary policy, fiscal policy as a variable of public expenditure as well as the value of incoming foreign investment to Algeria as a variable for foreign investment.

The results of the study and a causal relationship in one direction between each of the public spending, Money supply and the rate of re-discount on the one hand, and the flows of FDI to Algeria on the other hand.

Also showed the presence of explanatory power of public spending and the money supply in the interpretation of changes in the value of the investment foreign, and in general.

The results showed a positive and significant effect of monetary and fiscal policy on foreign investment, and thus we can say that the results of this study were consistent with economic theory.