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Theoretical and Applied Economics
No. 4 / 2022 (633), Winter

Financial liberalization and economic growth: The case of Algeria

Mohammed BENAZZA
University Centre of Maghnia, Tlemcen, Algeria
Djahida LAYATI
University of Abou Bakr Belkaid, Tlemcen, Algeria

Abstract. This study's objective is to investigate how financial liberalization affected Algeria's economic growth from 1990 to 2020 using ARDL model. The study discovered that although trade openness, foreign direct investment, money supply, and credit to the private sector all have a positive relationship with economic growth, the effect is only temporary. In contrast, inflation has an inverse relationship with economic growth. The KAOPEN rate also has a non-significant relationship with economic growth because of its stable value over the study period. In the short run, the economy is significantly impacted by the money supply and trade openness.

Keywords: financial liberalization, financial and monetary reform, Algerian economy, economic growth, ARDL model.

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The Economicity. The Epistemic Landscape, Marin Dinu, 2016

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