Revue Finance & marchés
Volume 13, Numéro 1, Pages 42-62
2026-03-21

Can Better Institutions Make Openness Work? Insights From Algeria’s Financial Liberalization Path

Authors : Bouchedda Mohamed El Mehdi . Miliani Yacine .

Abstract

This study examines the relationship between foreign direct investment (FDI), institutional quality, and financial institutional depth in Algeria from 1995 to 2022 using the Autoregressive Distributed Lag (ARDL) model. The findings underline that Algeria’s financial liberalization depends on improving institutional quality, enhancing governance, and sustaining macroeconomic stability.

Keywords

FDI ; nstitutional Quality ; Financial Depth ; ARDL ; Algeria