التحرير المالي و أثره على النمو الاقتصادي في الجزائر : دراسة قياسية للفترة 1990-2016

Abstract EN

The objective of this study is to measure the effect of financial liberalization in its various aspects on economic growth in Algeria during the period of 1990 to 2016, using the autoregressive distributed lag (ARDL) cointegration technique and to determine the direction of the causal relationship between the variables using the Toda and Yamamato approach.

The results showed that the financial liberalization policy adopted in Algeria did not have any positive effect on the growth rates achieved.

It was also found that some indicators of financial liberalization, both internal and external, had no effect, in addition to a weak and one-way causal relationship from variable interest rate to economic growth.

Hence the weak impact of the policy of financial liberalization is mainly due to the lack of compliance with the conditions and requirements of the success of this policy.

Therefore, Algeria has to make more efforts and reforms in order to activate the role of the financial sector and make it one of the most important sectors that stimulate economic growth.