مجلة الاقتصاد والمالية
Volume 12, Numéro 2, Pages 345-368
2026-06-01
Estimating The Impact Of Monetary Policy Instruments On The International Competitiveness Of The Food Industry: The Algerian Case Study (1992–2024).
Authors : Belhamri Ahmed . Benmeriem Mohammed .
Abstract
This study examines the impact of monetary policy instruments on the international competitiveness of Algeria’s food industry during the period 1992–2024, within the broader framework of the country’s shift toward a market-based economy and monetary liberalization. This is done through by assess the influence of key monetary tools namely the real exchange rate, inflation rate, money supply (M2), and real interest rate in enhancing the global competitiveness of the agri-food industry. Using the ARDL model methodology in estimation, the findings revealed a long-run equilibrium relationship, with significant effects from inflation, exchange rate, and money supply, in order of the size of the long-term effect, which amounted to:1,09;0,99;0,42 respectively, while the interest rate proved statistically insignificant. Finally the study recommends maintaining exchange rate stability, improving inflation management, directing liquidity toward productive investment, and reforming interest rate mechanisms to better support export-oriented competitiveness.
Keywords
Monetary Policy, International Competitiveness, Food Industry, International competitiveness indicators, ARDL Model.
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