سياسة التيسير الكمي كآلية لتمويل الإستراتيجية التنموية لبرنامج التحول الإقتصادي في الجزائر

Abstract EN

E66.

We focused in our research on unconventional central banking tools, and we projected them in terms of application to the case of Algeria, and the extent of their effectiveness in reaching the underlined goal of finding a financing alternative in light of the objective conditions on the ground in Algeria, and we came to the conclusion that Algeria has used a tool Quantitative easing and its effectiveness was limited in view of the party to which the printed monetary mass was directed from the vacuum, but it financed the public treasury for a while, then partially used the tool to fear inflation, but that did not push the economic agents to spend.

We point out that the unconventional central banking tools constitute a financing alternative to the new development model, in light of the reluctance to save, and it will constitute the instrument of the actual transition from the budget deficit financing strategy with a Keynesian background, to a strategy of diversification away from hydrocarbons, considering that the main problem in the Algerian economy is Lack of financial resources for financing, a condition of a shift towards an export substitution model.

Key words: unconventional central banking, quantitative easing, qualitative easing, monetary policy measures, the new development model.

Classification jel: Q42، E52، E66.