الفعالية النسبية للسياستين المالية و النقدية على ميزان المدفوعات الجزائري للفترة (1993-2014)‎ : نموذج الانحدار الذاتي الهيكلي المتجه (SVAR)‎

Abstract EN

This study aims to investigate the relative effectiveness of both fiscal and monetary policies on the balance of payments in Algeria, during the period (1992-2014), where the Structural Vector Autoregressive was applied for the following variables: the Government Expenditures, the Money Supply, the Balance of Trade and Capital Account.

Moreover, two main statistical tools (Variance Decomposition and the Impulse Response Function) were used for the analysis.

The findings revealed that first; the monetary policy was relatively more efficiency than the fiscal policy on the balance of trade, while fiscal policy was found to be more efficient relative to monetary policy on capital account.

Second, the impact of monetary policy was found to last for long period relative to the impact of the fiscal policy in the balance of trade.

However the impact of fiscal policy was found to last for long period relative to the impact of the monetary policy in capital account.