أثر سياسة استهداف التضخم على النمو الاقتصادي

Abstract

The policy of targeting inflation is newly style for the management of monetary policy in order to achieve stability in prices. According to this point of view it is a shift from targeting money supply depending upon exchange rate targeting to inflation targeting itself using the tools of fiscal and monetary policy.This policy has been followed by many countries since the nineties The study reached results, the most important of which are: In general, all countries of the sample have witnessed greater improvements in achieving the basic goal of this policy, which is to reduce inflation rates. They have also witnessed stability in economic growth rates during the targeting period, despite the varying level of providing the necessary conditions and tools for the success of this policy. In particular, the independence of the central bank, transparency, and relative stability of monetary and financial policies, which in turn was reflected in the success of the policy at relative levels.. According to the behavior of monetary policy within the framework of adopting the policy of inflation targeting, it tends towards stabilizing economic growth more than stabilizing inflation, and from it we conclude that the main objective of policy makers is to promote economic growth instead of fighting the inflation rate.. Keywords: inflation; Economic growth; policy of targeting inflation; Algeria. Keywords: inflation,