The Impact ofFinancial Development on EconomicGrowth in Algeria: -An EmpiricalStudyUsingthe ARDL Model During the Period (1990- 2020)-

Abstract

This researchpaperaims to study the impact of financialdevelopment on economicgrowth in Algeriaduring the period 1990-2020, using the AutoregressiveDistributedLag Model (ARDL). The GDP per capita wasadopted as a variable representative of economicgrowth in addition to twoindicatorsthat express financialdevelopment, namely, loansgranted to the privatesector and money supply.The empiricalresultsshoweda negativeeffectbetweenprivateloans and economicgrowth, and a positive effectbetween money supply and economicgrowth.Theseresults are consideredlogical for the Algerian economy, given the weakefficiency of itsfinancialsector.