قياس العلاقة بين التطور المالي و الاستثمار الأجنبي المباشر في الجزائر : دراسة قياسية خلال الفترة 1995-2017

الملخص EN

This paper explores the causal relationship among financial development, trade openness, economic geowth and foreign direct investment (FDI) for Algeria over the period 1995-2017.

The Autoregressive Distributed Lag (ARDL) bounds test is used to test for the presence of co-integration, whereas the Toda and Yamamoto test is used for direction of long-run causality.

The findings of ARDL bounds test validate the existence of cointegration among the included variables.

Further, the Toda and Yamamoto test affirms that there is bidirectional causality between trade openness and foreign direct investment.

Additionally, there is a unidirectional causality running from financial development to FDI as well as unidirectional causality running from economic growth to FDI.