أثر تدفقات رؤوس الأموال الأجنبية على احتياطات النقد الأجنبي في الجزائر : دراسة قياسية 1990-2020

Abstract EN

This study aims to determine the extent of the impact of foreign capital flows in their four forms (foreign direct investment, foreign loans, immigrant remittances, foreign aid) on foreign exchange reserves in Algeria through an econometric study of annual data for the period 1990-2020 using the OLS method, co integration test, the directed error correction mode and Granger causality test.

The results showed that there is a relationship in the long and short term between foreign capital flows and foreign exchange reserves in Algeria, as well as a significant and strong impact of foreign loans and foreign direct investment on foreign exchange reserves, and the lack of influence for immigrant remittances and foreign aid.

In terms of causality, the results showed that only foreign loans and immigrant remittances cause changes in Algeria's foreign exchange reserves.