دور السياسة النقدية في ضبط المعروض النقدي -دراسة حالة الجزائر-

Abstract

I have addressed this study the subject of monetary policy and its role in controlling the money supply with the case study of Algeria during the period (2000 - 2009), so was the formulation of the problematic core as follows: What is the role of monetary policy in controlling money supply in Algeria during the period (2000 - 2009), aiming to highlight the importance and the importance of monetary policy, and the importance of controlling the money supply to make the amount of money offered are consistent with the potential of the economy's productive real, and how to achieve monetary policy objectives of the end of the stabilization of the general price level, and achieve economic growth and balance in the balance of payments, with full operation, along with the importance to keep pace with modern trends in central banking trend towards indirect monetary management by targeting monetary variables and target rates of inflation and liberalization of financial markets, while working on the development of e-banking and oversight, in the context of modern strategy which calls for the necessity of giving a high degree of autonomy. And has been dropped on these aspects of the case of Algeria, and we concluded that Algeria has actually keep pace with these new trends through the transition to indirect monetary management the adoption of indirect monetary instruments in spite of the ineffectiveness of some of the tools as the rediscount rate and open market operations, but enable the Bank of Algeria using the tool the rate of compulsory reserve as well as tool retrieval liquidity through tenders and utility deposit facility to control effectively of excess liquidity, supported by this monetary stability, and the Bank of Algeria to target variables of monetary and make of the monetary base as an intermediate target, and successfully in achieving the inflation target except in the last two years because of the nature of the global inflationary, and could enable the Bank of Algeria thanks to this administration to control the growth rates of the cluster of cash and growth rates of loans to the economy by bringing rates lower than those targeted by the Monetary Council and the loan beginning of each year, except in two or three, but this does not detract from the ability to control, as the Bank of Algeria to promote the role of oversight and supervision, including through the intensification and completion of a comprehensive process control test for the assessment of the Anti-Money Laundering and the Financing of Terrorism, and Overall, these gains must accord due importance to the Bank of Algeria to continue the conduct of this administration, with work to continue to create the conditions necessary to achieve greater efficiency and diversification. And reflected positively on the rest of the economic variables. تناولت هذه الدراسة موضوع السياسة النقدية ودورها في ضبط عرض النقود مع دراسة حالة الجزائر خلال الفترة (2000-2009)، وتمت صياغة الإشكالية الأساسية على النحو التالي: ما هو دور السياسة النقدية في ضبط عرض النقود في الجزائر خلال الفترة (2000-2009)، بهدف إبراز أهمية وضرورة السياسة النقدية، وأهمية ضبط عرض النقود لجعل كمية النقود المعروضة منسجمة مع إمكانيات الاقتصاد الحقيقي الإنتاجي، وكيفية تحقيق أهداف السياسة النقدية المتمثلة في استقرار المستوى العام للأسعار، وتحقيق النمو الاقتصادي والتوازن في ميزان المدفوعات، مع التشغيل الكامل، إلى جانب أهمية مواكبة التوجهات الحديثة في البنوك المركزية نحو الإدارة النقدية غير المباشرة من خلال استهداف المتغيرات النقدية واستهداف معدلات التضخم وتحرير الأسواق المالية، مع العمل على تطوير الصيرفة الإلكترونية والرقابة عليها، في إطار الاستراتيجية الحديثة التي تدعو إلى ضرورة إعطاء الأولوية للسياسات النقدية والمالية. درجة عالية من الاستقلالية