المستخلص: |
This study aims to determine the effect of the liberalization of interest rates on size of domestic savings in Algeria during the period 1990-2016, and analysis of the equilibrium relationship between the two factors in the long run, using the method of cointégration test and the Granger test of causality, toward this aim we based our study on world bank data, using e-views 8 program, an attempt to answer the following problem: Has the policy of liberalization of interest rates positively affected Algeria's domestic savings? To answer this problem, this paper has been divided into the following axes: - General concepts on the policy of financial restraint. - Fundamentals of Financial liberalization. - Liberalization of interest rates. - Econometric analysis of the long-term relationship between savings and interest rates. The econometric study resulted in the absence of a long-term relationship between the two variables, contrary to the policy of financial liberalization based on the work of McKinnon and Shaw (1973), which is based on partial liberalization of interest rates to stimulate national savings.
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