Regulation relationship between interest rates and exchange rates to maintain Algerian economy's competitiveness.

This study's objective is to use econometric analysis to quantify the effect of interest rates on Algeria's exchange rate from 1990 until 2021. Based on the Autoregressive Distributed Lag (ARDL) model, which uses the exchange rate as the dependent variable and the local interest rate and interest rate differentials as independent variables. The study found no long-term association between the independent variables (local interest rate, interest rate differentials) and the dependent variable (exchange rate) based on the estimation of the econometric model. The local interest rate has a positive and noteworthy short-term influence of 11.83% on the currency rate. Additionally, the study suggested that interest rate liberalization was necessary.

本研究旨在通过计量经济学分析，量化1990年至2021年间利率对阿尔及利亚汇率的影响。本研究采用自回归分布滞后（Autoregressive Distributed Lag, ARDL）模型，以汇率作为因变量，以本国利率与利率差额作为自变量。经计量经济模型估计，本研究未发现自变量（本国利率、利率差额）与因变量（汇率）之间存在长期关联。本国利率对汇率具有11.83%的正向显著短期影响。此外，本研究提出利率市场化具备必要性。