مجلة البحوث الاقتصادية والمالية
Volume 11, Numéro 2, Pages 638-665
2024-12-31
Investigating The Impact Of The Mckinnon-shaw Theory On Economic Growth In Algeria During The Period 2000-2022
Authors : Tangout Wafa .
Abstract
The objective of this research is to evaluate the soundness of the McKinnon-Shaw theory in Algeria by analyzing the influence of financial liberalization indicators on economic growth from 2000 to 2022, using the Autoregressive Distributed Lag (ARDL) model. The results establish a notable adverse influence of interest rates and domestic credit extended to the private sector on economic growth, while foreign investment does not have a substantial long-term effect on economic growth, which does not support the theory. The research determines that the process of financial liberalization in Algeria is still partial and unfinished. It emphasizes the need to enact suitable policies to convert the financial sector into an accelerator for viable economic Growth.
Keywords
Mckinnon-Shaw Theory; Financial Liberalization; Economic Growth; ARDL Model.
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