Résumé: To assess the nexus between financial development and economic growth in Mexico, we used an ARDL model over the period of 1978-2019. Domestic credit to the private sector is used as a proxy for the banking sector development; value of shares traded is used as a proxy for the financial market development. In the long-run, we find that the banking sector development has a positive impact on growth; an increase by 1% in the banking sector development causes an improvement of 0.098% in growth. Moreover, we find a negative relationship between the stock market development and growth; where an increase by 1% in the stock market development causes a decrease by 0.046% in growth. Findings from this paper suggest that Mexican authorities should accelerate in priority the financial reforms of the stock market, and reinforce the regulatory environment in order to stimulate economic growth in the long-run.

Résumé: The purpose of this paper is to identify the relationship between inflation, effective exchange rate, and economic growth in Algeria from 1980 to 2020 using the Threshold Autoregressive model (TAR), which is based on estimating acceptable minimum inflation (threshold) to achieve the desired economic growth. If this threshold is exceeded, a negative effect on economic growth will occur. According to the study results, Algeria's estimated inflation rate is 5.91 %. When inflation is less than the estimated threshold, neither inflation nor the real effective exchange rate has a statistically significant impact on growth. However, when this threshold is exceeded, inflation has a negative statistically significant impact on growth; because the effective exchange rate is still statistically insignificant, Algeria's development strategy does not focus on exchange policy. Keywords: inflation, effective exchange rate, economic growth, inflation threshold, threshold autoregressive model.

Résumé: This paper aims to estimate a long-term path for the equilibrium exchange rate of the Algerian dinar for the period from 1986 to 2019, By using Co-integration method according to the ARDL model. The findings revealed that Algeria has a time-varying long-run equilibrium exchange rate, and that its long-term behavior can be explained by each 1% increase in oil prices and degree of trade openness, resulting in a 0.1945 percent and 0.7585 percent decline in the equilibrium exchange rate of the Algerian dinar, respectively. Moreover, every 1% increase in the size of the production differences and the parallel exchange rate leads to a 1% increase in the real equilibrium exchange rate of 0.5275 percent and 0.1625 percent, respectively. The results also showed that the misalignment of the Algerian dinar's real effective exchange rate is corrected within Four months and 18 days. At the end of 2003, the Algerian dinar's real effective exchange rate was close to its equilibrium level, with minor deviations. Key Words:Real effective exchange rate, Equilibrium exchange rate, ARDL model, Algerian dinar.

Résumé: This study aims to test the empirical relationship between financial development and economic growth in Morocco during the period 1988-2014. For this reason, we used the Autoregressive Distributed Lag model (ARDL). We took the domestic credit to private sector by banks and the value of stocks traded as indicators of the financial development. The empirical results showed that an increase in the volume of domestic credit to private sector by banks by 1% leads to an increase in real growth by about 0.4% in the long run. On the other hand, the study concluded that there is no relationship between the Casablanca stock market and growth, this may be due in part to the impact of the eviction effect of banks on the stock market. Accordingly, Morocco is required to accelerate the privatization of banks, as well as to pursue the financial reforms of the stock market in order to contribute to mobilize savings and promote long run economic growth. Keywords : Economic Growth, Financial Development, Domestic credit to private sector, value traded ratio, Casablanca Stock Exchange, Autoregressive Distributed Lag Model .

Résumé: منذ مطلع سنوات 1990 ، اتجهت العديد من البلاد النامية لسياسة التحرير المالي في محاولة منها لجني منافع النمو المتأتية من العولمة المالية، والجزائر آغيرها من هذه الدول شرعت منذ سنة 1990 في تغيير النهج الاقتصادي والانتقال من الاقتصاد المخطط إلى اقتصاد السوق. تعنى هذه الورقة بدراسة العلاقة طويلة الأجل بين التحرير المالي والنمو الاقتصادي وهذا من (ECM) إذ تم تقدير نموذج تصحيح الخطأ ،(M. Chin and H. Ito) الذي تم بناؤه من قبل (KAOPEN) باعتماد مؤشر سلاسل زمنية سنوية تمتد على الفترة من 1970 إلى غاية 2010 ، وقد خلصت الدراسة إلى وجود علاقة معنوية سلبية طويلة الأجل بين التحرير المالي والنمو الاقتصادي في الجزائر. .(KAOPEN) الكلمات المفتاح : تحرير مالي، نمو اقتصادي، اقتصاد جزائري، مؤشر

Résumé: The goal of this paper is to perform predictive analysis of fluctuations in the exchange rate of the US dollar against the Algerian dinar in the parallel market outside the sample during the Corona pandemic in the short term. To achieve this, time-series approach was selected by using ARMA model on daily data for the USD / DZD exchange rate series in the parallel market, for the date from August 2, 2019, to September 2, 2020. The study found that the best model for the data series is ARIMA (2.1) and that the dollar exchange rate will see a rise from the dinar beginning in mid-September to hit 179 dinars in the square market. Keywords: ARIMA model, Corona pandemic, Exchange rate, Forecasting, Parallel market (Square).

Résumé: This study aims to demonstrate the role of the Algerian central bank in maintaining the stability of the Algerian dinar’s exchange rate and its impact on banking stability during the period of 1990-2018. Using VECM model, the study found a long-term direct relationship between the nominal exchange rate and both inflation and money supply. While it’s inverse between the nominal exchange rate and the real interest rate. The study also concluded that the stability of the exchange rate is necessary for the stability of banking system, especially during trade openness and the free movement of capital. Keywords: Exchange rate, Central bank policies, Banking stability, VECM model.