قياس أّثر التحرير المالي على الطلب على النقود في الجزائر

Abstract

Demand for money represents an important macroeconomic function. its stability and predictability are a key rule in shaping effective monetary policy objectives for economic stability. It has attracted a great deal of study and analysis in monetary theories; it has also attracted the attention of economic researchers over the decades. The interest in studying it, has increased in recent years to determine the variables that explain it, especially with the developments in the world, especially regarding the policy of financial liberalization and lifting restrictions and obstacles on the financial sector. Many countries, including Algeria, have embarked on this policy since the 1990s, with the aim of making their financial sector effective and efficient. This policy has had an impact on the monetary demand in Algeria. By the econometric applied study and using Cointegration and Error correction models, the results showed that real income has the greatest impact on demand for money, Moreover the liberalization of interest rates and exchange rate have had a positive but a weak impact on demand for money.