كثر العولة ، ركس اليل الثيبت و التطور اليل على النمو القتصيدي جلزائر )2023- الل الفتة ) 1970 )ARDL( دراسة قييسية جستخمام نوذج

Abstract

In this study, we focus primarily on the long-term relationship between globalization, financial development, and fixed capital accumulation on economic growth in Algeria. We employ a multi-step methodology, namely the Autoregressive Distributed Lag (ARDL) approach, along with the Fully Modified Ordinary Least Squares (FMOLS) and Canonical Cointegrating Regression (CCR) methods to test this relationship in Algeria over the period from 1970 to 2023. The results reveal a positive and statistically significant long-term correlation between globalization, financial development, and economic growth. Specifically, a 1% increase in globalization and financial development leads to an increase in economic growth by 1.38175% and 0.13177%, respectively, highlighting the favorable role of these factors in supporting long-term economic performance. Conversely, fixed capital accumulation shows a negative effect on growth, reflecting the inefficiency of investments in the Algerian economy. Furthermore, the study shows that public spending, used as a control variable, has a positive impact on growth. In light of these findings, the study recommends adopting economic policies that promote financial and trade openness, enhancing the efficiency of the financial system, and revising fixed capital accumulation policies by directing investments toward more productive sectors in order to achieve sustainable economic growth