MONETARY POLICY AND ENVIRONMENTAL SUSTAINABILITY IN ALGERIA: MEASURES FOR A GREEN TRANSITION
アルジェリアにおける金融政策と環境持続可能性：グリーン移行のための措置 (AI 翻訳)
Azzeddine CHEDDAD, Youcef ZAHAF, Mohammed MEKIDICHE, Abderrahim CHIBI
🤖 gxceed AI 要約
日本語
本研究は、アルジェリアの化石燃料依存経済と生態学的フットプリント（EF）の関係をQARDLモデルで分析。マネーサプライ（M1）の縮小は高EF分位で効果的だが、経済成長は全分位でEFを増加させる。グリーンボンド発行や差別的准备預金制度など、金融政策と環境目標の統合を提案。
English
This study analyzes the relationship between Algeria's fossil fuel-dependent economy and its ecological footprint using the QARDL model. It finds that monetary tightening (M1 contraction) reduces ecological footprint at higher quantiles, while economic growth consistently increases it. Policy recommendations include green bonds and differential reserve requirements for polluting industries.
Unofficial AI-generated summary based on the public title and abstract. Not an official translation.
📝 gxceed 編集解説 — Why this matters
日本のGX文脈において
アルジェリアの事例だが、金融政策と環境目標の統合という視点は日本のGX政策（例：グリーンボンド、カーボンプライシング）にも示唆を与える。ただし、日本は既に高度な金融市場と環境規制を有しており、直接的な応用は限定的。
In the global GX context
This paper offers a framework for integrating monetary policy with environmental goals, relevant to global discussions on green central banking and transition finance. However, its Algeria-specific context limits direct applicability to advanced economies like Japan or the EU.
👥 読者別の含意
🔬研究者:Provides empirical evidence on the asymmetric effects of monetary policy on ecological footprint in a resource-dependent economy.
🏢実務担当者:Offers ideas for green financial instruments (e.g., green bonds, differential reserve requirements) that could be adapted in other contexts.
🏛政策担当者:Highlights the potential of monetary policy tools for environmental sustainability, relevant for central banks exploring green mandates.
📄 Abstract（原文）
This study investigates the relationship between Algeria’s fossil fuel-dependent economic growth and its Ecological footprint (EF), an increasingly pressing issue for resource-rich economies. By employing the Quantile Autoregressive Distributed Lag (QARDL) model, the analysis captures the asymmetric effects of key macroeconomic variables across different levels (quantiles) of EF. The findings demonstrate that a contraction in the money supply (M1) contributes to a reduction in ecological footprint at higher quantiles (τ = 0.50), indicating that monetary tightening becomes more effective in mitigating environmental pressures when ecological degradation is already significant. In contrast, economic growth, measured through real GDP, consistently leads to an increase in the ecological footprint across all quantiles, reaffirming the environmental cost of growth strategies reliant on fossil fuel exploitation. Based on these findings, the study proposes several policy recommendations tailored to Algeria’s context. These include promoting the issuance of green bonds to finance environmentally sustainable projects, and introducing differential reserve requirements for highly polluting industries, thereby discouraging excessive credit allocation to environmentally harmful sectors. By integrating monetary policy tools with environmental objectives, Algeria can better balance economic development with ecological sustainability. This research contributes to the scarce literature on ecological impacts in resource-dependent economies, offering nuanced insights into how macroeconomic policies influence environmental outcomes, and providing a framework for sustainable policy design in similar national contexts.
🔗 Provenance — このレコードを発見したソース
- openaire https://doi.org/10.15407/economyukr.2025.08.045first seen 2026-05-05 19:07:44
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