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This study aims to identify some concepts related to non-traditional monetary policy instruments, including the quantitative easing tool, and discuss the main reasons for Algeria's adoption of this instrument.

The study concluded that the adoption of the policy of quantitative easing in Algeria is not to affect economic variables, but to finance the budget deficit. In order to estimate the impact of monetary issuance on economic growth for 2003Q1-2018Q4, the ARDL model was used, where the results resulted in a direct relationship between M2 and GDP.

JEL Classification: C51 ,E52.


Unconventional Monetary Policy Quantitative Easing Monetary Issuance Budget Deficit

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