دراسات اقتصادية
Volume 11, Numéro 1, Pages 497-521
2024-06-01
Impact Of Macroeconomic Variables On Economic Growth: Insights From Algeria
Authors : Berbache Antara . Bouhelais Mohamed Khalil .
Abstract
This study explores the impact of various macroeconomic variables on Algeria's economic growth from 1990 to 2022 using the Vector Autoregression (VAR) model. Analyzing the period's data, the research includes inflation rate (INF), exchange rate (EX), unemployment rate (UNP), household consumption (HC), and interest rates (IR), with Real Gross Domestic Product (RGDP) as the dependent variable. It examines the time series' stationarity, employing unit root tests, cointegration, and causality tests to explore the dynamics between these factors. The findings reveal long-term relationships between RGDP and the inflation rate, exchange rate, and unemployment rate, underscoring their substantial impact on economic growth. The study also identifies causal links from RGDP to all examined variables, highlighting their critical role in shaping economic policies aimed at fostering economic development. Recommendations include adopting targeted fiscal and monetary policies to manage inflation and exchange rates, and promoting investments in productive sectors to decrease unemployment and stimulate growth.
Keywords
Economic Growth ; Macroeconomic Variable ; Vector Autoregression (VAR) ; Economic policy ; Algeria
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