nep-ara New Economics Papers
on Arab World
Issue of 2009‒01‒31
five papers chosen by
Quentin Wodon
World Bank

  1. La compétitivité de l'industrie d'habillement tunisienne. Atouts et limites (The tunisian clothing industry competitiveness : assets and limits) By Iheb FRIJA
  2. Equilibrium real exchange rate and misalignments : Lessons from a VAR-ECM model applied to Tunisia By Fatma Marrakchi Charfi
  3. Financial Reforms in the MENA Region, a Comparative Approach: The Case of Tunisia, Algeria, Morocco and Egypt By Ahmed Alouani
  4. Choice of the Exchange Policies in the Developments Countries: Study of the Competitiveness of Tunisia By Hend Sfaxi Benahji
  5. When migrant remittances are not everlasting, how can Morocco make up ?. By Fida Karam

  1. By: Iheb FRIJA (labrii, ULCO)
    Abstract: Récemment, Eli Heckscher et Bertil Ohlin ont fait la révolution du commerce international en introduisant la différence internationale de dotations en facteurs de productions ; " Factor abundance theory ". Cette dotation étant en ellemême un déterminant de la compétitivité d'une nation. Dans ce travail, en se basant sur les dotations factorielles, nous analysons la spécialisation internationale de la Tunisie et de ses principaux concurrents sur le marché mondial d'habillement. L'avantage comparatif révélé en plus de la matrice de compétitivité qualité seront mis en œuvre dans cette étude en vue d'évaluer l'importance de la rivalité dans le commerce international des produits de l'habillement tunisiens. Afin d'appréhender l'effet de la libéralisation sur le développement futur des productions habillements, notre analyse porte aussi une attention particulière à l'évolution des exportations tunisiennes des principales catégories de produits de l'habillement. Les résultats ont montré que la Tunisie détient un avantage comparatif très élevé par rapport à ses concurrents. Cet avantage est détenu dans la majorité des produits habillement exportés. Nos analyses nous ont aussi révélé une situation paradoxale à la théorie d'Heckscher et Ohlin. En effet, la Tunisie étant un pays riche en main d'œuvre utilisée en abondance dans la fabrication des produits de l'habillement, pour lesquels elle détient un avantage comparatif, assiste à une baisse de ses exportations suite à l'ouverture au libre échange. Recently, Eli Heckscher and Bertil Ohlin introduced the "international trade revolution" related to their "Factor Abundance Theory". According to this theory, the "Factor Endowment" is an important element of nations' competitiveness. In the current study, we analyze the international competitiveness of the Tunisian textile sector based on the factor endowment concept. The Comparative Advantage in addition to the "Matrix of Quality" of the Tunisian textile and clothing sector will be calculated and compared with other competitor countries. In the aim of understanding the trade liberalization' effect on the development of the textiles and clothing productions, our analysis will also focus on the evolution of the Tunisian main exported categories of these wearing productions. Our results show that Tunisia has a high comparative advantage compared with its competitors. We notice also that Tunisia holds this competitive advantage over most of the exported wearing products. However, this analysis reveals a paradox situation to the Heckscher and Ohlin's theory. In fact, although Tunisia has an abundant labor factor which is widely used in the clothing production and helps the country to benefit from its comparative advantage in this sector, the trade liberalization has been associated to a continuous decrease of the Tunisian clothing exports as well in value as in volume.
    Keywords: clothing industry, Tunisian, Revealed comparative, advantage, quality, trade liberalization
    JEL: O14 O55 F13 B20
    Date: 2008–11
  2. By: Fatma Marrakchi Charfi (Facult 0064es Sciences Economiques et de Gestion de Tunis. Universit 0064e Tunis El Manar)
    Abstract: Tunisia has experienced a performance when pursuing a constant real exchange rate rule. The limitations of this rule are beginning to emerge in the context of a more open economy, which desire to relax capital controls. This paper estimates the equilibrium real exchange rate of the dinar vis 0076is the euro and the $US from 1983 to 2000, using quarterly data, based on the following fundamental variables: terms of trade, net capital inflows and the differential of productivity. Results show that Tunisian dinar was overvalued before the 1986 devaluation, becomes close to its equilibrium value over the 90s. In the beginning of this century (2000), authorities permit a larger fluctuation of the real effective exchange rate.
    Keywords: Equilibrium real exchange rate, Misalignment, Cointegration
    JEL: C22 F31 F37
    Date: 2008–06
  3. By: Ahmed Alouani (Universit 0064e Nice-Sophia Antipolis, CEMAFI, France)
    Abstract: The financial reform is one of the most important reforms prescribed by the Washington Consensus. With its internal and external components, it occurs in the final stages of the process of economic liberalization. In this work, and after listing, briefly, the causes of financial liberalization, we are going to study in a second section financial development and bank performance in four countries of the MENA region: Tunisia, Algeria, Morocco and Egypt. In this context, we will explore some criteria for determining if the banking sector is performing as the level of intermediation margins, the state of the banking service, and so on. The third section will be subject to an assessment of financial liberalization since the start of reforms to the present day, while focusing on the impact of liberalization on the investment, savings, capital entry, and so on. Our conclusion will be in the form of recommendations aimed at showing that overall reforms, significant progress have been made in recent years but much remains to be done.
    Keywords: Financial reforms, Causes, Banking performance, MENA, Liberalization effects
    JEL: G28
    Date: 2008–04
  4. By: Hend Sfaxi Benahji (Universit 0064e Nice-Sophia Antipolis, CEMAFI, France)
    Abstract: After the collapse of the Breton Woods system, the increased fluctuations of the exchange rates pushed the developing countries to adopt exchange rate policies to avoid rocking of the balance of payments. Since 1973, Tunisia adopted fixed or intermediary exchange rate policies to support or ameliorate her competitiveness and later to balance her current account. By calculating the real effective exchange rate misalignment, we showed that this country did not achieve her goals and that amelioration of competitiveness occurred only as from the moment when she softened her exchange policies. A policy of floating exchange rate is recommended for Tunisia especially why this country is more and more open.
    Keywords: Exchange policy, Real effective exchange rate misalignment, Competitiveness, Tunisia
    JEL: F31
    Date: 2008–02
  5. By: Fida Karam (Paris School of Economics - Centre d'Economie de la Sorbonne)
    Abstract: In this paper, I run a computable general equilibrium (CGE) model of the Moroccan economy to investigate the transmission channels through which remittances affect households and sectors. I give a particular attention to the investment of remittances in the real estate sector, by allowing a segmentation of the savings market. To begin with, I assess the negative impact of immigration restrictive policies and permanent migration on the future evolution of remittances. Then I ask what would be the appropriate policies to take the maximum profit from current flows. It turns out that channelling investment from real estate to productive sectors is unexpectedly harmful in terms of growth and welfare. Positive effects stem only from government ability to attract investors through an improvement in the country risk premium, and private efforts to reduce international transfer costs.
    Keywords: Sequential dynamics, computable general equilibrium model, migration, remittances.
    JEL: C68 F22 F24
    Date: 2008–11

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