دراسة قياسية لأثر النوعية المؤسساتية على فعالية السياسة النقدية في الجزائر خلال الفترة ( 1995-2018)‎

Abstract EN

This study aims to identify the impact of some institutional quality variables on the effectiveness of monetary policy in Algeria using var self- regression models during the period (1995-2018).

The results showed a positive impact on the growth of the monetary mass, and a negative impact on prices.

She also pointed out that institutional quality variables of monetary freedom and financial freedom improve the performance of monetary policy in achieving the growth goal, without improving the goal of controlling prices.

It has also been shown that the overall institutional quality index doesn't contribute to the growth and on price control.

By comparing a model that includes institutional quality indicators and a model without these indicators, we have found that institutional quality variables don't significantly improve the performance of monetary policy in the growth target when using the monetary mass instrument while we have recorded an important improvement for the interest rate instrument.