أثر تطور السياسة النقدية على معدلات التضخم في الجزائر دراسة تحليلية للفترة 2003 - 2018

Abstract

The monetary policy is considered as one of the most important policies adopted by the state in order to fight the various economic imbalances and maintain economic stability by maintaining the overall level of prices. On that basis, the monetary policy moved towards adopting a modern method which is Inflation Targeting Policy. This method is considered as a framework to achieving the ultimate goal of monetary policy, which is to control inflation rates, as the success of its application in the developed countries has encouraged some of the developing countries to adopt it, including Algeria. This study aims at analyzing the course of the monetary policy in Algeria and the application of inflation targeting policy since 2010. Moreover, we will discuss the most important experiences of international developed and developing countries which adopted the policy and succeeded in achieving its goals. The study concluded that there are a number of difficulties that have made the implementation of this policy in the Algerian economy incomplete, among which are the absence of full independency of the central Bank and the unavailability of a majority of the conditions for adopting inflation targeting policy in Algeria