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on MENA - Middle East and North Africa |
| By: | Abdelaaziz Ait Ali; Fatima Ezzahra Mengoub; Mahmoud Arbouch; Fahd Azaroual; Oumayma Bourhriba; Youssef El Jai; Badr Mandri |
| Abstract: | This Policy brief was originally published on erf.org.eg Like many emerging and developing economies, Morocco has experienced a significant increase in public debt since the COVID-19 pandemic. Central government debt reached 69.6 percent of GDP in 2022, up from 60.3 percent in 2019, and overall public debt increased to 82.5 percent of GDP in 2022, well above the presumed critical threshold of 60 percent. Therefore, it becomes crucial to conduct a comprehensive debt sustainability analysis (DSA) that extends beyond a simplistic rule-of-thumb assessment to consider several factors, such as the level and structure of debt, the GDP growth rate, the primary fiscal balance, the real interest rate, and the exchange rate. In the realm of debt management, the conventional approach of bringing debt to sustainable levels has been shown to be insufficient or rather counterproductive. The “trivial solutions” of manipulating financial records, either by expanding revenues or rationalizing expenditures without careful consideration or scrutiny, often produce adverse consequences, thereby undermining economic growth. Ultimately, the paramount concern lies in fostering growth and ensuring that the economic structure generates the necessary resources to repay debts and bolster overall economic well-being. This policy brief delves into these dimensions and draws from the Moroccan experience of surmounting debt burdens and steering the economy toward a path of fiscal stability and prosperity. This policy brief proposes recommendations to address the challenges of public debt sustainability in Morocco. It also draws from the results of an analysis of the debt and its sensitivity through scenarios and simulations. 1 The policy brief is divided into three sections. The first examines the main trends in the Moroccan economy over the past two decades, the second presents a summary of the simulation model results, and the third proposes policy recommendations to address Morocco’s debt sustainability challenges. This policy brief is an output of the project on “Stabilization and Adjustment in MENA”. The project has been managed under the auspices of the Economic Research Forum and Finance for Development Lab (FDL). ERF acknowledges the financial support of the International Development Research Centre (IDRC) for this project. |
| Date: | 2023–11 |
| URL: | https://d.repec.org/n?u=RePEc:ocp:pbecon:pbnn_36 |
| By: | Rachid Maghniwi (UM5 - Université mohamed 5, Rabat); Mustapha Oukassi (UM5 - Université mohamed 5, Rabat) |
| Abstract: | This study analyzes the determinants of commercial banks' market share in Morocco, focusing on the impact of capital structure and physical network density. The objective is to understand how these factors influence banks' competitive position in the context of Morocco's evolving banking sector. Our methodology relies on a quantitative analysis of panel data covering the period 2014-2023 for the country's ten main commercial banks. Results reveal a significant positive relationship between the capital ratio and market share, with a 0.8% increase in market share for each percentage point increase in the capital ratio. Physical network density also shows a positive impact, although its importance diminishes with increasing digitalization. The study highlights significant transformations in the sector, including decreased state and French capital participation, as well as an increased concentration trend. |
| Abstract: | Cette étude analyse les déterminants des parts de marché des banques commerciales au Maroc, en mettant l'accent sur l'impact de la structure du capital et de la densité du réseau physique. L'objectif est de comprendre comment ces facteurs influencent la position concurrentielle des banques dans un contexte de mutation du secteur bancaire marocain. Notre méthodologie s'appuie sur une analyse quantitative de données de panel couvrant la période 2014-2023 pour les dix principales banques commerciales du pays. Les résultats révèlent une relation positive significative entre le ratio de fonds propres et la part de marché, avec une augmentation de 0, 8% de la part de marché pour chaque point de pourcentage d'augmentation du ratio de fonds propres. La densité du réseau physique montre également un impact positif, bien que son importance diminue avec la digitalisation croissante. L'étude met en évidence les transformations importantes du secteur, notamment la diminution de la participation étatique et des capitaux français, ainsi qu'une tendance à la concentration accrue |
| Keywords: | Digitalisation, Secteur bancaire marocain, Capital structure, Physical network, Digitalization, Moroccan banking sector, Parts de marché bancaires, Structure du capital, Réseau physique |
| Date: | 2024–12–04 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-04826562 |
| By: | ES-SANOUN Mohamed (USMBA - Université Sidi Mohamed Ben Abdellah); Zaynab Hjouji; Ziad Bousraraf; Benboubker Mounir (USMBA - Université Sidi Mohamed Ben Abdellah); Mahouat Nacer |
| Abstract: | Considering the vital role of the tourism sector in the economy, and the intense competition between nations to attract large numbers of tourists, nations are seeking to ameliorate their competitiveness in order to boost their position internationally. In this context, it is essential to determine the main factors of international tourism demand, and with this in mind, this article examines the impact of the real effective exchange rate on international tourism flows to Morocco over the period 1995-2023. We apply the Vector Autoregressive (VAR) model and the Granger causality test to analyze this impact. In addition, we have introduced other control variables (inflation rate, gross domestic product per capita, carbon dioxide emissions) for two reasons: firstly, to ensure the robustness of the results, and secondly, to account for other factors that may affect international tourism demand in the case of Morocco. Our results show that there is a negative relationship between the evolution of the real effective exchange rate, the inflation rate, carbon dioxide emissions and international tourism flows in Morocco, whereas gross domestic product per capita has a positive impact on the evolution of international tourism demand. In our judgment, this study can also guide professionals and policymakers in the formulation of policies and strategies associated with the development of the tourism sector, to improve Morocco's position in this area. The practical implications of these findings suggest that policies aimed at stabilizing the exchange rate and managing economic and environmental variables could enhance Morocco's attractiveness as a tourist destination. |
| Abstract: | Compte tenu du rôle vital du secteur du tourisme dans l'économie et la concurrence intense entre les nations pour attirer un grand nombre de touristes, les pays cherchent à améliorer leur compétitivité afin de renforcer leur position à l'international. Dans ce contexte, il est essentiel de déterminer les principaux facteurs de la demande touristique internationale. Cet article examine donc l'impact du taux de change réel effectif sur les flux touristiques internationaux vers le Maroc durant la période 1995-2023. Nous appliquons le modèle Vecteur autorégressif (VAR) et le test de causalité de Granger pour analyser cet impact. De plus, nous avons introduit d'autres variables de contrôle (taux d'inflation, produit intérieur brut par habitant, émissions de dioxyde de carbone) pour deux raisons : premièrement, assurer la robustesse des résultats, et deuxièmement, tenir compte d'autres facteurs pouvant affecter la demande touristique internationale dans le cas du Maroc. Nos résultats montrent qu'il existe une relation négative entre l'évolution du taux de change réel effectif, le taux d'inflation, les émissions de dioxyde de carbone et les flux touristiques internationaux au Maroc, tandis que le produit intérieur brut par habitant a un impact positif sur l'évolution de la demande touristique internationale. À notre avis, cette étude peut également guider les professionnels et les décideurs dans la formulation de politiques et de stratégies liées au développement du secteur touristique, afin d'améliorer la position du Maroc dans ce domaine. Les implications pratiques de ces résultats suggèrent que des politiques visant à stabiliser le taux de change et à gérer les variables économiques et environnementales pourraient renforcer l'attractivité du Maroc en tant que destination touristique. |
| Keywords: | Tourism Receipts, Real Exchange Rate, Tourism Demand, Vector Autoregressive (VAR) |
| Date: | 2024–10–29 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-04764091 |
| By: | Ali Bouzerouata (FSJESJ - faculté des sciences juridiques, économiques et sociales d'El Jadida); Younesse El Menyari (aculté des Sciences Juridiques Economiques et Sociales FSJES –Ain -Chock Université Hassan II, Casablanca, Maroc) |
| Abstract: | The present article investigates the impact of artificial intelligence on Moroccan's manufacturing exports. For this purpose, artificial intelligence was materialized by neural machine translation. The methodological approach was based on the gravity model namely by adopting estimation of the Poisson Pseudo-Maximum Likelihood estimator on a panel data composed of 20 major trading partners of Morocco for the period between 2011and 2023. The results highlight that Moroccan manufacturing exports are positively and significantly affected by neural machine translation and GDP partners, however distance all other things being equal has negative impact on Moroccan manufacturing exports. |
| Abstract: | Le présent article étudie l'impact de l'intelligence artificielle sur les exportations manufacturières marocaines. À cet effet, l'intelligence artificielle a été matérialisée par la traduction automatique neuronale. L'approche méthodologique a été basée sur le modèle de gravité notamment en adoptant l'estimation de l'estimateur de Poisson Pseudo-Maximum de Vraisemblance sur des données de panel composées de 20 partenaires commerciaux majeurs du Maroc pour la période allant de 2011 à 2023. Les résultats soulignent que les exportations manufacturières marocaines sont positivement et significativement affectées par la traduction automatique neuronale et le PIB des pays partenaires, cependant la distance toutes choses égales par ailleurs a un impact négatif sur les exportations manufacturières marocaines. |
| Keywords: | Artificial intelligence, neural machine translation, Gravity model, manufacturing exports, Intelligence artificielle traduction automatique neuronale modèle de gravité exportations manufacturières. JEL Classification : F76 Type du papier : Recherche empirique Artificial intelligence neural machine translation Gravity model manufacturing exports |
| Date: | 2024–12–06 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-04825931 |
| By: | Naima Aba (Université Hassan II, Casablanca - Faculté des sciences Juridiques, Economiques et Sociales de Mohammedia); Fatima Ezzahra (Université Hassan II, Casablanca, - Faculté des sciences Juridiques, Economiques et Sociales de Mohammedia); Ayoub Bourass (Université Hassan II, Casablanca - Faculté des sciences Juridiques, Economiques et Sociales de Mohammedia) |
| Abstract: | Rooted in traditional Islamic and community-based practices, the Moroccan social protection system has evolved over time, influenced by historical dynamics as well as the Bismarckian and Keynesian models. Since Independence, Morocco has sought to reform the unequal system inherited from the colonial period in order to foster balanced social and economic development. However, the structural adjustment policies of the 1980s weakened the system, exacerbating inequalities and leaving non-salaried workers and vulnerable populations on the fringes of social protection. In the early 2000s, major reforms were introduced to expand social coverage, notably with the creation of Mandatory Health Insurance (2005) and the Medical Assistance Scheme (2011). While these initiatives have led to significant progress, they have also revealed persistent challenges in terms of financing and governance, threatening the long-term viability of the system. The objective is to assess the extent to which these successive reforms have met the growing needs of the population, while identifying the limitations of these mechanisms in terms of financing, governance, and equity. The methodology adopted is based on in-depth documentary research and a theoretical review serving as an analytical framework. It combines historical and critical analysis of the transformations in Morocco's social protection system with an evaluation of the public policies implemented. This approach uses both qualitative and quantitative data to explore the goals, impacts, and limitations of the reforms, highlighting the complex interactions between political orientations, socio-economic constraints, and beneficiaries' expectations. |
| Abstract: | Ancré dans les pratiques islamiques et communautaires traditionnelles, le système de protection sociale marocain s'est transformé au fil du temps, influencé par les dynamiques historiques ainsi que par les modèles bismarckien et keynésien. Depuis l'Indépendance, le Maroc s'attèle à réformer l'héritage inégalitaire de la période coloniale afin de favoriser un développement équilibré sur les plans social et économique. Cependant, les politiques d'ajustement structurel des années 1980 ont fragilisé le système, exacerbant les inégalités et laissant les nonsalariés et les populations vulnérables en marge de la protection sociale. Au début des années 2000, des réformes majeures ont été introduites pour élargir la couverture sociale, notamment avec l'Assurance Maladie Obligatoire (2005) et le Régime d'Assistance Médicale (2011). Bien que ces initiatives aient permis des avancées notables, elles ont révélé des défis persistants en matière de financement et de gouvernance, compromettant la viabilité à long terme du système. L'objectif est d'évaluer dans quelle mesure ces réformes successives, ont permis de répondre aux besoins croissants de la population, tout en identifiant les limites de ces dispositifs en matière de financement, de gouvernance et d'équité. La méthodologie adoptée repose sur une recherche documentaire approfondie et une revue théorique servant de cadre analytique. Elle combine une analyse historique et critique des transformations du système de protection sociale marocain avec une évaluation des politiques publiques mises en œuvre. Cette approche mobilise des données qualitatives et quantitatives pour explorer les objectifs, les impacts et les limites des réformes, en mettant en lumière les interactions complexes entre les orientations politiques, les contraintes socio-économiques et les attentes des bénéficiaires. |
| Keywords: | Bismarckian theory, Beveridgean theory, social protection financing, Social protection system, Système de protection sociale, Théorie Bismarckienne, Théorie Bevergidienne, financement de la protection sociale |
| Date: | 2024–12–06 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-04836061 |
| By: | Abdelaaziz Ait Ali; Fatima Ezzahara Mengoub; Mahmoud Arbouch; Fahd Azaroual; Oumayma Bourhriba; Youssef El Jai; Badr Mandri |
| Abstract: | This Working Paper was originally published on erf.org.eg Like many developing countries, Morocco faced a significant increase in public debt following the COVID-19 pandemic. In 2022, Central government debt reached 69.6% of GDP, up from 60.3% in 2019, highlighting the need for a thorough analysis of debt sustainability. This paper examines the main trends in the Moroccan economy over the past two decades, including growth performance, monetary policy and financial conditions and external balances. It provides an overview of Morocco's economic landscape and highlights the main challenges that have affected the orientation of fiscal policy. It uses a debt sustainability analysis model to assess the trajectory of fiscal policy, examining different scenarios including potential shocks such as inflation, GDP growth, and interest rates. The results of the model show that, under most scenarios, Morocco's public debt should stabilize and consolidate, with an overall sustainable trajectory. However, in a pessimistic scenario characterized by persistent domestic inflation, a permanent decline in economic growth and rising interest rates at both national and international level, public debt increases steadily. The paper concludes with policy recommendations focusing on short-, medium-, and long-term reforms. |
| Date: | 2023–11 |
| URL: | https://d.repec.org/n?u=RePEc:ocp:rpaeco:rpnn_77 |
| By: | Tayeb Ghazi |
| Abstract: | This paper was originally published on thebrenthurstfoundation.org Situated at the northwest borders of the continent, between the Atlantic Ocean and the Mediterranean Sea, Morocco has established itself as a stable and dynamic economy and a gateway to Africa. A part of the Maghreb and Arab world, the country has for many decades embraced a policy of economic and financial openness, aiming to integrate its economy into global markets. According to the United Nations Conference on Trade and Development’s 2022 report, Morocco is one of the top three attractive destinations for foreign investment in Africa. It has around $72.9 billion in foreign investment, which is equivalent to about 55.5% of its economy, covering various sectors such as automotive, aero- space and textiles. |
| Date: | 2024–11 |
| URL: | https://d.repec.org/n?u=RePEc:ocp:rpaeco:rpnn_82 |
| By: | Hanane Boubekri (UM5 - Université Mohammed V de Rabat [Agdal]); Aziz Ragbi (UM5 - Université Mohammed V de Rabat [Agdal]) |
| Abstract: | Gender equality, along with the elimination of all forms of discrimination against women, are fundamental human rights objectives. Aware of the importance of mainstreaming gender equality in public policies, Morocco has made this issue one of its top priorities, in alignment with the United Nations' Sustainable Development Goals (SDGs). By adopting a hypothetico-deductive approach, this work undertakes an in-depth analysis of the determinants of labor market participation by gender in order to assess the achievement of these gender equality goals in Morocco. This study focused on a sample of 44, 972 people aged 15 and over, residing in the 12 regions of the Kingdom. The data used comes from the results of the Household Panel Survey conducted by the National Observatory for Human Development (ONDH) in 2019. An econometric modeling was carried out using the logit model. The results of our analysis show that men are more likely to be active in the labor market than women. As a result, women's participation in the national economy remains insufficient, which limits the country's potential for economic growth. This participation disparity is the result of multiple factors: economic, social, and cultural. These results confirm the need to implement targeted public policies to promote gender equality and equity. It is also crucial to strengthen awareness and training initiatives to overcome the obstacles faced by women. |
| Abstract: | L'égalité de genre, ainsi que l'élimination de toutes les formes de discrimination à l'égard des femmes, sont des objectifs fondamentaux en matière de droits humains. Conscient de l'importance d'intégrer de manière transversale l'égalité de genre dans les politiques publiques, le Maroc a fait de cette question l'une de ses grandes priorités, en alignement avec les Objectifs de Développement Durable (ODD) de l'ONU. En adoptant une approche hypothético-déductive, ce travail appréhende une analyse approfondie des déterminants de la participation au marché du travail selon le genre, afin d'évaluer la réalisation de ces objectifs en matière d'égalité des genres au Maroc. Cette étude a porté sur un échantillon de 44 972 personnes âgées de 15 ans et plus, résidant dans les 12 régions du Royaume. Les données utilisées proviennent des résultats de l'Enquête Panel des Ménages réalisée par l'Observatoire National du Développement Humain (ONDH) en 2019. Une modélisation économétrique a été effectuée à l'aide du modèle logit. Les résultats de notre analyse attestent que les hommes sont plus susceptibles d'être actifs sur le marché du travail que les femmes. Par conséquent, la participation des femmes à l'économie nationale reste insuffisante, ce qui limite le potentiel de croissance économique du pays. Cette disparité de participation est le résultat de multiples facteurs : économique, sociaux et culturels. Ces résultats confirment la nécessité de mettre en place des politiques publiques ciblées pour promouvoir l'égalité et l'équité de genre. Il est également crucial de renforcer les initiatives de sensibilisation et de formation pour surmonter les obstacles auxquels les femmes sont confrontées. |
| Keywords: | Labor market, inequality, gender, logit model, Marché du travail, inégalités, genre, modèle logit |
| Date: | 2024–11–03 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-04789450 |
| By: | Mounir Bellari (EMSI - Ecole Marocaine des Sciences de l'Ingénieur) |
| Abstract: | The aim of this article is to contribute to the research effort into earnings management (based on accruals estimated by the model of Kothari et al., 2005), by studying the various identity, control and financial determinants that drive Moroccan companies to make such an accounting choice. It seeks to better understand the motivations behind such a practice and the opportunistic behaviors of managers. To this end, our study is based on logistic regression on a sample of 48 non-financial companies listed on the Casablanca Stock Exchange, over a seven-year period (2016-2022), processed using RStudio 4.4.0 software. The results show that these companies do indeed practice earnings management, and that company size (identity characteristic), ownership concentration (control characteristic) as well as financial performance and indebtedness (financial characteristics) have a significant impact on this practice. |
| Abstract: | Cet article a pour ambition de contribuer à l'effort de recherche portant sur la gestion comptable des résultats (basée sur les accruals estimés par le modèle de Kothari et al., 2005), et ce, en étudiant les différents déterminants identitaires, de contrôle et financiers qui poussent les sociétés marocaines à faire un tel choix comptable. Il cherche à mieux comprendre les motivations d'une telle pratique et les comportements opportunistes des dirigeants. Pour ce faire, notre étude est basée sur une régression logistique sur un échantillon de 48 sociétés non financières cotées à la Bourse de Casablanca, sur une période de sept ans (2016-2022), traitée à l'aide du logiciel RStudio 4.4.0. Les résultats montrent que ces sociétés pratiquent, bel et bien, la gestion comptable des résultats, et que la taille de l'entreprise (caractéristique identitaire), la concentration de la propriété (caractéristique de contrôle) ainsi que la performance financière et l'endettement (caractéristiques financières) impactent significativement cette pratique. |
| Keywords: | Gestion comptable des résultats, accruals discrétionnaires, étude confirmatoire, déterminants identitaires-contrôle-financiers |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-04786658 |
| By: | Nasredine Fathelkhir (Université Hassan 1er [Settat]); Said Karam (Université Hassan 1er [Settat]); Othman Gaga (Université Hassan 1er [Settat]) |
| Abstract: | Abstract The research on external audit quality has attracted flourishing interest from several scholars following financial scandals and corporate failures, Nonetheless, results and empirical findings regarding the effect of audit quality on firm performance are still inconclusive. Our study is designed to investigate the impact of external audit quality on financial performance using both accounting and market-based performance indicators. Based on a sample of 38 listed firms in the Casablanca stock exchange, covering the period 2011-2021, this study employed a pooled OLS model to assess the effect of audit quality on accounting and market-based performance measures. For robustness check, we employed the Feasible Generalized Least Square (FGLS) estimator to account for potential issues of heteroskedasticity and autocorrelation. Our findings support the main hypothesis and the agency's theoretical foundations, indicating that audit brand name reputation and audit quality change exhibit significant positive impacts on financial performance and firm valuation. To the best of our knowledge, our study is the first to examine the effect of audit quality on firm performance and valuation in the Moroccan context and use audit quality change as a robustness proxy for audit quality. Nevertheless, our research suffers from some limitations, related to the methodological approach, possible omissions of some variables, econometric issues related to endogeneity concerns and external validity of our results due to the limited number of observations. |
| Keywords: | Corporate governance, External audit quality, Firm performance, Agency theory, Morocco |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-04803149 |
| By: | Rim Berahab; Afaf Zarkik |
| Abstract: | This Policy Paper was originally published on freiheit.org This study explores how Morocco can successfully develop a green hydrogen market and at the same time contribute to the global energy transition. Authors Rim Berahab and Afaf Zarkik show how Morocco’s bold strategies and investments in renewables can shape a promising future for green hydrogen. They chart a path to decipher the potential of this energy vector, while outlining the elements necessary for the emergence of a green hydrogen market in Morocco. By considering both the country’s internal energy needs and competitive pressures on the international stage, they aim to offer an analysis that can guide Morocco towards consolidating and amplifying its competitive advantage. Morocco, by capitalizing on its pioneering role in the field of green hydrogen, can pave the way towards a more sustainable and prosperous energy future. Moreover, collaboration around Green Hydrogen can potentially constitute an important new chapter in Morocco-German relations. |
| Date: | 2023–05 |
| URL: | https://d.repec.org/n?u=RePEc:ocp:rpcoen:rpnn_73 |
| By: | Abdeslam Chraibi (ENCGT - Ecole Nationale de Commerce et de Gestion de Tanger - UAE - Abdelmalek Essaadi University [Tétouan] = Université Abdelmalek Essaadi [Tétouan]); Nouhaila Benabdellah (ENCGT - Ecole Nationale de Commerce et de Gestion de Tanger - UAE - Abdelmalek Essaadi University [Tétouan] = Université Abdelmalek Essaadi [Tétouan]); Ghizlane Benrezzouq (Ecole Nationale de Commerce et de Gestion Oujda - ENCG Oujda) |
| Abstract: | This study examines the level of integration and use of dashboards in Moroccan industrial companies, motivated by the need to understand their success and impact. An exploratory-explanatory methodology was employed, collecting data via a quantitative questionnaire sent to various industrial companies. The results show that 96% of the companies use at least one dashboard, with complete adoption among large companies and 80% among SMEs. Strategic dashboards are the most common, followed by management dashboards. Companies reported significant improvements, including increased productivity, reduced production costs, and better financial situations. In conclusion, the integration of dashboards is widespread and effective, enabling companies to enhance their performance. Future research is suggested to further analyze the real benefits, especially in the pharmaceutical sector |
| Abstract: | Cette étude examine le niveau d'intégration et d'utilisation des tableaux de bord dans les entreprises industrielles marocaines, motivée par le besoin de comprendre leur succès et leur impact. Une méthodologie exploratoireexplicative a été employée, recueillant des données via un questionnaire quantitatif auprès de diverses entreprises industrielles. Les résultats montrent que 96% des entreprises utilisent au moins un tableau de bord, avec une adoption complète chez les grandes entreprises et 80% chez les PME. Les tableaux de bord stratégiques sont les plus courants, suivis par les tableaux de gestion. Les entreprises ont constaté des améliorations significatives, notamment une augmentation de la productivité, une réduction des coûts de production et une meilleure situation financière. En conclusion, l'intégration des tableaux de bord est largement répandue et efficace, permettant aux entreprises d'améliorer leurs performances. Des recherches futures sont suggérées pour approfondir l'analyse des bénéfices réels, surtout dans le secteur pharmaceutique. |
| Keywords: | Tableau de bord entreprises marocaines entreprises industrielles JEL classification : M49 Type de papier : Recherche Empirique Dashboard Industriel companies Moroccan companies Classification JEL: M49 Paper Type: Empirical Research, Tableau de bord, entreprises marocaines, entreprises industrielles JEL classification : M49 Type de papier : Recherche Empirique Dashboard, Industriel companies, Moroccan companies Classification JEL: M49 Paper Type: Empirical Research |
| Date: | 2024–11–30 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-04777891 |
| By: | Jules Gazeaud (CERDI - Centre d'Études et de Recherches sur le Développement International - IRD - Institut de Recherche pour le Développement - CNRS - Centre National de la Recherche Scientifique - UCA - Université Clermont Auvergne, IC Migrations - Institut Convergences Migrations [Aubervilliers]); Claire Ricard (CERDI - Centre d'Études et de Recherches sur le Développement International - IRD - Institut de Recherche pour le Développement - CNRS - Centre National de la Recherche Scientifique - UCA - Université Clermont Auvergne, IDinsight) |
| Abstract: | New evidence from Morocco reveals that conditional cash transfers can constrain learning when no accompanying measures are taken by governments to account for increased enrolment. |
| Date: | 2024–12–11 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-04831963 |
| By: | Othman Gaga (Faculty of Economics and Management of settat, Hassan First University of Settat, Morocco); Said Karam (Faculty of Economics and Management of settat, Hassan First University of Settat, Morocco); Nasredine Fathelkhir (Faculty of Economics and Management of settat, Hassan First University of Settat, Morocco) |
| Abstract: | This paper investigates how publicly listed Moroccan companies adjust their liquid asset levels to reach an optimal balance. We apply a partial target adjustment model, based on the work of Ozkan and Ozkan (2004), and estimate it using the Generalized Method of Moments (GMM), which accounts for potential endogeneity in the explanatory variables. The study draws on a sample of 38 non-financial companies listed on the Casablanca Stock Exchange over the period from 2013 to 2021. Our results show that Moroccan listed companies adjust their liquid assets to converge towards an optimal balance, influenced primarily by two key factors: leverage and financial distress. Specifically, we identify a non-monotonic relationship between leverage and liquid assets. At lower levels of leverage, debt acts as a substitute for liquid assets, while at higher levels of leverage, this relationship becomes complementary, with an increase in liquid assets to mitigate default risk. Additionally, our findings reveal that cash flows act as a potential substitute for liquid assets, reducing the need for firms to maintain high levels of liquidity. However, the relationship between firm size and liquid assets presents an unexpected dynamic. Contrary to theoretical expectations of economies of scale, we observe a diseconomy of scale, where larger Moroccan companies tend to hold more liquid assets. In conclusion, while our analysis provides valuable insights into corporate liquidity behavior, there are limitations to consider, particularly the lack of data on governance structures and the absence of international comparisons. These limitations suggest promising avenues for future research to further explore the determinants of corporate liquidity in emerging markets and expand the scope to other regions. |
| Abstract: | Cet article examine l'ajustement des actifs liquides par les entreprises marocaines cotées en Bourse afin d'atteindre un équilibre optimal. Nous appliquons un modèle d'ajustement-cible partiel basé sur les travaux de Ozkan et Ozkan (2004) et estimé à l'aide de la méthode des moments généralisés (GMM), qui permet de tenir compte de l'endogénéité des variables explicatives. L'étude s'appuie sur un échantillon de 38 entreprises non-financières cotées à la Bourse des Valeurs de Casablanca durant la période allant de 2013 à 2021. Nos résultats montrent que les entreprises marocaines cotées ajustent effectivement leur niveau d'actifs liquides afin de converger vers un niveau d'équilibre optimal. L'ajustement est principalement influencé par deux facteurs clés : l'endettement et la détresse financière. En effet, nous trouvons une relation non-monotone entre l'endettement et les actifs liquides : à des niveaux d'endettement plus faibles, l'endettement se substitue aux actifs liquides, tandis qu'à des niveaux plus élevés, la relation devient complémentaire, avec une augmentation des actifs liquides pour prévenir le risque de défaut. De plus, nos résultats montrent que les flux de trésorerie jouent un rôle de substitut potentiel aux actifs liquides, réduisant ainsi le besoin pour les entreprises de maintenir des niveaux élevés de liquidités. Cependant, la relation entre la taille des entreprises et les actifs liquides présente une dynamique inattendue. Contrairement aux attentes théoriques d'économies d'échelle, nous observons une déséconomie d'échelle, où les grandes entreprises marocaines sont amenées à détenir davantage de liquidités. En conclusion, bien que notre analyse apporte des éclairages sur le comportement des entreprises en matière de liquidité, des limites subsistent, notamment liées à l'absence de données sur les structures de gouvernance et l'absence de comparaisons internationales. Ces éléments ouvrent des pistes pour des recherches futures. |
| Keywords: | Liquid Assets, Leverage, Corporate Finance, Dynamic Panel Data, GMM, Actifs Liquides, Endettement, Finance d'entreprise, Données de panel dynamique |
| Date: | 2024–11–03 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-04774682 |
| By: | Mohammed Khaouja (LRMD FEG Settat - Laboratoire de Recherche en Management et Développement - Faculté des Sciences Economiques et de Gestion) |
| Abstract: | Knowledge management (KM) represents an essential strategic tool that allows companies to cultivate and use knowledge to improve their competitiveness and foster innovation. In a context of intense market competition, innovation proves to be an essential element that allows organizations to distinguish themselves from their competitors. The availability and sharing of knowledge are considered essential elements for improving the capacity for innovation. This research analyzes the impact of knowledge management on the innovation process, based on a case study conducted from 2019 to 2020 with managers operating in the telecommunications sector in Morocco. A bibliographic analysis has defined the concepts of knowledge management and innovation, and the results highlight a positive and significant correlation between knowledge management and the increase in innovation capacity. Keywords: Knowledge management, telecommunications operator, innovation; JEL Classification: O3 Paper Type: Empirical Research |
| Abstract: | La gestion des connaissances (GC) représente un outil stratégique essentiel qui permet aux entreprises de cultiver et d'utiliser des connaissances afin d'améliorer leur compétitivité et de favoriser l'innovation. Dans un contexte de concurrence intense sur le marché, l'innovation se révèle être un élément essentiel permettant aux organisations de se distinguer de leurs concurrents. La disponibilité et le partage des connaissances sont considérés comme des éléments essentiels pour améliorer la capacité d'innovation. Cette recherche analyse l'incidence de la gestion des connaissances sur le processus d'innovation, en se basant sur une étude de cas réalisée de 2019 à 2020 auprès des managers opérants dans le domaine des télécommunications au Maroc. Une analyse bibliographique a permis de définir les concepts de gestion des connaissances et d'innovation, et les résultats mettent en évidence une corrélation positive et significative entre la gestion des connaissances et l'augmentation de la capacité d'innovation. Mots-clés : Gestion des connaissances, opérateur de télécommunications, innovation ; JEL Classification : O3 Type du papier : Recherche empirique |
| Keywords: | Gestion des connaissances, opérateur de télécommunications, innovation, telecommunications operator |
| Date: | 2024–12–02 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-04825776 |
| By: | Yasmeen Fekery Yaseen El Khodary; Mousa Gowfal Selmey Gowfal Selmey; Elsayed Farrag Elsaid Mohamed Elsayed |
| Abstract: | This paper investigated the impact of Egypt's accession to the BRICS bloc by studying the participation rate of BRICS countries in Egypt, as well as the exposure rate and the ratio of foreign investment of BRICS countries in Egypt to the total foreign investment in Egypt, as well as Egypt's export opportunities in the BRICS markets and the impact of these variables on the ratio of foreign assets in Egypt during the period from 2000 to 2024, In order to predict the impact of Egypt's accession to the BRICS bloc in the coming years as well. The study used the ARDL model to determine the impact of the four independent variables on the dependent variable (foreign assets), which is the ratio of foreign assets. It also used automatic ARIMA model to predict the values of the study variables during the period from 2024 to 2030. |
| Date: | 2024–12 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2412.16927 |
| By: | Nacer Mahouat (ESTC - Ecole Supérieure de Technologie de Casablanca); Mehdi Gharrafi (The Sidi Bennour Higher School of Technology University of Chouaib Doukkali– Morocco,); El Idrissi Zineb (Polydisciplinary Faculty - Sultan Moulay Slimane University - Maroc - USMS - Université Sultan Moulay Slimane); Haoudi Wissa (University of Sidi Mohamed Ben Abdellah); Boumour Rachida (LGMSS URAC‑45 - University Chouaïb Doukkali, El Jadida); Boualam Abdelaziz (The Sidi Bennour Higher School of Technology University of Chouaib Doukkali– Morocco,); Mehdi Zaim (The Sidi Bennour Higher School of Technology University of Chouaib Doukkali– Morocco,) |
| Abstract: | The aim of this study was to examine the factors influencing (determining) the effectiveness of the internal audit function in Moroccan public companies. The research sample consisted of 137 respondents. The results of statistical tests showed that management independence, competence and support could increase the effectiveness of the internal audit function. However, this cooperative relationship did not moderate the impact of management competence and support on internal audit effectiveness. The practical implication of this study is that, in order to increase internal audit effectiveness, internal auditors must adopt an attitude of independence, objectivity and freedom from conflicts of interest in the exercise of their professional responsibilities. The practical value of this study also shows that to increase the effectiveness of internal auditing in the public sector, internal and external auditors need to strengthen their cooperation, particularly with regard to activities requiring collaboration between internal and external auditors, communication between internal and external auditors, and the sharing of working tools and documents between internal and external auditors. |
| Keywords: | internal audit public enterprise Efficiency Public sector PLS |
| Date: | 2024–10–04 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-04763793 |
| By: | Aomar Ibourk; Zakaria Elouaourti |
| Abstract: | This paper was originally published on erf.org.eg The digital divide in the financial sector has occurred through the development of financial technologies. These latest “FinTech” refers to technological innovations that have emerged in the financial system in recent years, which are the new channels for providing financial services. These innovations have disrupted traditional financing models by making financial transactions more secure and by reducing spatiotemporal constraints. The purpose of this paper is to investigate 1) the digital financial inclusion levels across the MENA countries? 2) which segments of the population are digitally financially excluded? 3) How the digital divide could preclude some segments from being financially included as a result of a lack of financial literacy (risks)? 4) and how FinTech could promote financial inclusion of segments excluded by the conventional financial system (women, elderly) and therefore the inclusive development of the MENA region (opportunities). To tackle these issues, we employed a mixed methodological approach (quantitative and qualitative) and by mobilizing micro-level data on 9, 053 individuals extracted from the World Bank's latest Global Findex 2021 database. First, our comparative analysis mobilizing the principal component analysis method to develop a Digital Financial Inclusion Index (DFII) highlighted that despite the various initiatives that have been undertaken in recent years, digital financial inclusion in the MENA region remains at a low level compared to other countries worldwide. Second, the results of the estimations on a Logit model pointed out that the educational level, labor force participation, information and communication technologies, and internet access are the main drivers of digital financial inclusion in the MENA region. Our work is original in that it provides grounded empirical evidence on the digital financial inclusion levels across MENA countries and investigates how to ensure that the digital divide in the financial sector "Financial Technologies" does not further exclude segments of the population (women, elderly...) financially excluded by the conventional financial system by increasing their digital financial literacy, promoting their participation in the labor market, and expanding access to mobile phones and the Internet. Considering the comprehensiveness of our sample, policy implications will be of great interest to financial sector regulators in MENA region to improve digital financial inclusion in the region, as these implications have been drawn from the micro-level experiences of individuals constituting our database. |
| Date: | 2023–07 |
| URL: | https://d.repec.org/n?u=RePEc:ocp:rpaeco:rpnn_74 |
| By: | Ms. Yevgeniya Korniyenko; Ahmed K Tohamy; Weining Xin |
| Abstract: | The Middle East (ME) is often perceived as region with rentier economies and uncompetitive markets. Evidence of market power in the region however is scant. In this paper, we ask the following three questions: Is the ME uniquely uncompetitive? Has the evolution of market power in the region traced the global rise in market power? What government policies and actions influenced the market power in the region and can taxes be a way to even the playing field? To answer these questions, we utilize comprehensive firm-level data from Compustat between 2004 and 2022 and employ two methods for estimating markups (production function and cost-share approach). We document that market power among listed firms in the ME is higher than in the US, but on a downward trend. We find that the value-added tax (VAT) reforms introduced by some Gulf states from 2018 to 2022 resulted in a reduction of market power, an additional benefit beyond increasing fiscal space. While policymakers should continue to use available regulatory levers to achieve economic efficiency and a level playing field, VAT could be considered as an alternative instrument. |
| Keywords: | Middle East; Market Power; Markup; Firm Behavior |
| Date: | 2025–01–10 |
| URL: | https://d.repec.org/n?u=RePEc:imf:imfwpa:2025/001 |
| By: | Brahim Ou-Mellal (USMS - Université Sultan Moulay Slimane); Mostapha Oubrahimi (USMS - Université Sultan Moulay Slimane) |
| Abstract: | The engineering of continuous education as a process of design, coordination and implementation of educative projects, plays a key role in the management of human resources, it is considered the cornerstone given its importance in the improvement and development of human capital, particularly in the education system where the teacher must be up to date to adapt to changes in society and to meet the needs of the job market. The objective of this article is to analyze the current state of continuous education in the national education sector, as well as to study the contribution of this kind of training to improving the competence of teachers in the classroom. To achieve these objectives, a hypothetico-deductive approach was used, based on a mixed approach through an initial qualitative study using semi-directive interviews, followed by a quantitative study using questionnaires administered to a sample of 228 qualifying secondary school teachers in the BENIMELLAL provincial authority. The results obtained indicate that the continuous training within the provincial management of BENIMELLAL is of great interest to teachers in terms of improving their skills and their professional development. However, the continuous training process suffers from several dysfunctions in its implementation in the field, which prevent it from being assimilated into engineering. |
| Abstract: | L'ingénierie de la formation continue en tant que démarche de conception, de coordination et de réalisation des projets de formation, joue un rôle primordial au sein de la gestion des ressources humaines, elle est considérée comme la pierre angulaire vue son importance dans l'amélioration et le développement du capital humain, notamment dans le système éducatif où l'enseignant doit être à jour pour s'adapter aux changements de la société et pour répondre aux exigences du marché de travail. L'objectif de cet article est d'analyser l'état des lieux de la formation continue dans le secteur de l'éducation nationale, ainsi que d'étudier la contribution de ladite formation à l'amélioration de la compétence des enseignants en classe. Pour atteindre ces objectifs, une démarche hypothético-déductive a été menée, basée sur l'approche mixte à travers une première étude qualitative via les entretiens semi-directifs, suivie d'une étude quantitative à travers l'administration des questionnaires auprès d'un échantillon de 228 enseignants du secondaire qualifiant de la direction provinciale de BENIMELLAL. Les résultats obtenus indiquent que, la formation continue au sien de direction provinciale de BENIMELLAL présente un grand intérêt pour les enseignants en matière d'amélioration de leurs compétences et leurs développement professionnels. Cependant le processus de formation continue souffre de plusieurs dysfonctionnements dans son implémentation sur le terrain ce qui l'entravent d'être assimilé d'ingénierie. |
| Keywords: | Formation continue compétence ingénierie de la formation Enseignement Classification JEL : O15 Type de l'article : Recherche appliquée Continuous education skills training engineering Education JEL Classification: O15 Paper type: Empirical research, Formation continue, compétence, ingénierie de la formation, skills, training engineering, Education JEL Classification: O15 Paper type: Empirical research, Formation continue compétence ingénierie de la formation Enseignement Classification JEL : O15 Continuous education skills training engineering Education JEL Classification: O15 Paper type: Empirical research |
| Date: | 2023–06–28 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-04265522 |
| By: | Fathallah Brahim (UH2C - Université Hassan II de Casablanca (UH2C)); Horr Latifa (UH2C - Université Hassan II de Casablanca (UH2C)) |
| Abstract: | Cette étude a pour objectif de montrer le rôle des plateformes des jeunes (PDJs) dans l'accompagnement des jeunes entrepreneurs. Elle vise également à mettre en évidence l'importance de l'éducation à l'entrepreneuriat, dispensés dans ces espaces, dans la mise en place de projets réussis. La méthodologie adoptée s'appuie sur une étude de cas qualitative. Plus précisément, des données sont collectées, au sein d'une plateforme des jeunes à Casablanca (Hay Mohammadi). Les résultats montrent que la plateforme constitue un environnement propice pour initier les jeunes à entreprendre, grâce à l'éducation à l'entrepreneuriat. Ceci s'exprime par un nombre important de candidats ayant achevé les cycles de formations (entre 30% et 80% des candidats inscrits) et de projets validés au niveau de cette plateforme (30% des projets présentés). |
| Keywords: | INITIATIVE NATIONALE POUR LE DEVELOPPEMENT HUMAIN ENTREPRENEURIAT JEUNES, INITIATIVE NATIONALE POUR LE DEVELOPPEMENT HUMAIN, ENTREPRENEURIAT, JEUNES |
| Date: | 2024–11–03 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-04766373 |
| By: | Wolfgang Stojetz; Piero Ronzani; Ghassan Baliki; Tilman Brück; Sarah Fenzl |
| Abstract: | This paper studies the social protection of refugees during a pandemic. A pandemic adds to the many existing challenges refugees face, creating a dangerous polycrisis. Drawing on detailed household-level data collected by the United Nations High Commissioner for Refugees just before and during the COVID-19 pandemic, we analyse the economic impacts of granting work permits to Syrian and Iraqi refugees in Jordan. Based on robust matching estimation, we show that during the pandemic, work permits strongly improved incomes, expenditures, and food security, and reduced child labour and engagement in risky jobs. The strength of these work permit impacts is comparable to the impacts before the COVID-19 pandemic. Our findings thus demonstrate that granting access to formal employment is an effective tool for the social protection of refugees, including in times of polycrisis. Restricting access to work permits⎯for example, by raising their price⎯does not appear to be a convincing strategy to achieve the social protection of refugees facing a polycrisis. |
| Keywords: | covid-19, polycrises, refugees, social protection, work permits |
| JEL: | D04 I38 J20 O15 |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:hic:wpaper:424 |
| By: | IWASAKI, Erina; SAITO, Osamu |
| Date: | 2025–01 |
| URL: | https://d.repec.org/n?u=RePEc:hit:hituec:759 |
| By: | Aomar Ibourk; Zakaria Elouaourti |
| Abstract: | This paper was originally published on tandfonline.com This paper explores new pathways to women's empowerment, including household structure, family support, satisfaction and self-esteem, and trust in institutions and politicians, and their impact on labor market participation, with a specific focus on gender differences. Using a microeconomic database of 7, 860 individuals from North Africa and employing a Probit model, we find that gender significantly influences labor market participation. Surprisingly, our results reveal that education operates in an unexpected direction in the North African region, confirming the “MENA paradox”. Moreover, household structure's impact on labor decisions varies by gender, as gender norms prevalent in male-dominated societies hinder women's labor market participation, leading to a “marriage penalty.” In a similar vein, our estimations reveal a significant positive correlation between men's belief that “men should have greater job rights than women during scarce work periods” and their labor force participation, shedding light on the influential role of gender norms in North Africa. Our study emphasizes the critical role of networking, social capital, and how North Africans' perception of political life impedes their labor force participation. As for policy implications, our contribution illuminates new pathways for women's empowerment, advocating for comprehensive legislative reforms to promote gender equality and foster inclusive development. |
| Date: | 2023–07 |
| URL: | https://d.repec.org/n?u=RePEc:ocp:rpaeco:rpnn_75 |
| By: | Mouad Lamrabet (UH2MC - Université Hassan II de Casablanca = University of Hassan II Casablanca = جامعة الحسن الثاني (ar)) |
| Abstract: | Today, territories are more than ever called upon to mobilize their intelligence to tackle the complex challenges related to their development. In Morocco, the issue of territorial intelligence remains underexplored, both scientifically and practically. In 2023, the report of the Economic, Social, and Environmental Council (CESE) highlighted the alarming state of territorial development and identified numerous stagnations, which are, in fact, linked to a deficit in the territorial intelligence of actors. Hence, the continued relevance of this issue. However, the present work explores a novel problematic: How can the global intelligence of a territory be measured to better guide its development? In this context, we have innovated a tool that allows measuring the global intelligence of the territory. We have named it: "The Mouad Quotient." Practically, the Mouad Quotient allows for the simultaneous and symmetrical measurement of territorial intelligence and anti-territorial intelligence, thus providing a score of the preponderance of one or the other of these two phenomena. Following a theoretical-mathematical modeling methodology, the process of designing the Mouad Quotient is as follows: Conceptual framework, application prerequisites, index construction, weighting, scaling, normalization, and interpretation. As a last resort, the Mouad Quotient is formalized as follows: [α (ID + II) + β (IM + ICOM + IK)] × 1.17. |
| Abstract: | Aujourd'hui, les territoires sont appelés plus que jamais à mobiliser leurs intelligences pour relever les défis complexes liés à leur développement. Au Maroc, la problématique de l'intelligence territoriale reste peu abordée, tant au niveau scientifique qu'au niveau pratique. En 2023, le rapport du Conseil Économique, Social et Environnemental (CESE) a souligné l'état inquiétant du développement territorial et identifié une multitude d'enlisements liés, en réalité, à un déficit d'intelligence territoriale des acteurs. D'où l'actualité, comme toujours, de cette problématique. Cependant, leprésent travail explore une problématique inédite : Comment peut-on mesurer l'intelligence globale du territoire afin de mieux piloter son développement ? Dans ce sens, nous avons innové un outil qui permet de mesurer l'intelligence globale du territoire. Nous l'avons baptisé : « Le Quotient de Mouad ». Pratiquement, le Quotient de Mouad permet de mesurer simultanément et de manière symétrique l'intelligence territoriale et l'intelligence anti-territoriale, et ainsi d'obtenir un score de prépondérance de l'un ou l'autre de ces deux phénomènes. Suivant une méthodologie de modélisation théorico mathématique, le processus de conception du Quotient de Mouad est le suivant : Cadre conceptuel, préalables d'application, construction d'indices, pondération, échelonnage, normalisation et interprétation. En dernier ressort, le Quotient de Mouad est formalisé comme suit: [α (ID+ II) + β (IM+ ICOM+ IK)] × 1.17 |
| Keywords: | Mouad Quotient, Territorial intelligence, anti-territorial intelligence, preponderance, Territorial development, Scoping Review PRISMA-ScR |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-04831759 |
| By: | Güneş Aşık; Naci H. Mocan |
| Abstract: | We analyze the expressive content of government action, focusing on Istanbul Convention, an international treaty aimed at protecting women against violence, signed and ratified by 39 countries. In 2021, ten years after signing the Convention, the Turkish government withdrew from it, on the grounds that it "was hijacked by a group of people attempting to normalize homosexuality, which is incompatible with Turkey’s social and family values.” Although this withdrawal did not alter existing laws or law enforcement practices, women's rights advocates viewed it as a signal of tolerance for violence against women. We use two separate datasets on female murders from independent sources. Analyses, including a difference-in-difference model with male homicide data, show that the withdrawal led to an additional 70 female murders per year, primarily committed by intimate partners. The effect is more pronounced in provinces where the long-governing religious-conservative coalition parties have stronger voter support and in provinces with lower education levels. We also show that Turkey's entry into the Convention in 2011 had the opposite impact, leading to a decrease in female murders. The signing of the Convention, which acted as a normative signal against violence, and the subsequent enactment of comprehensive legislation strengthening deterrence, had distinct effects. The signaling effect of the Entry was more significant in the same provinces that reacted more strongly to the Exit: those with lower education levels, stronger support for the governing party, and the Eastern region of the country. These findings indicate that government actions are interpreted as normative signals by society. |
| JEL: | D70 I0 J12 K0 Z1 |
| Date: | 2024–11 |
| URL: | https://d.repec.org/n?u=RePEc:nbr:nberwo:33169 |
| By: | Ahmet Duhan Yassa; Kamil Yýlmaz |
| Abstract: | This study investigates the propagation of foreign trade-related shocks through domestic supply chain networks. By combining firm-level customs data with domestic firm-to-firm transaction data, we demonstrate that importer and exporter firms occupy a central position within Türkiye’s domestic supply chain network. These firms interact with numerous other firms and account for a significant share of total domestic trade, facilitating the transmission of external shocks through the supply chain. Our empirical analysis reveals that Turkish firms’ indirect exposure to exchange rate fluctuations, imported input price changes, and foreign demand shocks—via their suppliers or customers—is at least as significant as their direct exposure in explaining variations in gross profitability. Given the close relationship between gross profitability and value added, our results suggest that foreign trade-related shocks can significantly impact gross domestic product (GDP), both directly and indirectly. |
| Keywords: | Production network, Supply chains, Foreign trade, GDP volatility, Centrality |
| JEL: | B17 D22 D24 L14 L61 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:tcb:wpaper:2503 |
| By: | Mounia Boucetta |
| Abstract: | يبين معدل نشاط المرأة المغربية1 انخفاضا أصبح هيكليا على مدى السنوات العشرين الماضية. وتزداد حدة هذا الانخفاض نظرا لضعف مستوى هذا المعدل، الذي يعتبر من بين أدنى المعدلات في العالم. ومع ذلك، تم تنفيذ العديد من الإصلاحات والبرامج والإجراأت أو يجري تنفيذها لتحسين ظروف المرأة، اقتصاديا واجتماعيا، وفي المناطق الحضرية والريفية. هل نواجه ظاهرة مجتمعية أم مجرد مشاكل تتعلق بالنمو الاقتصادي؟ ما هي الدروس التي يمكن استخلاصها من مختلف الدراسات والتحليلات التي أجريت في هذا الاتجاه وما هي الأدوات الكفيلة باتباع سياسة أكثر نجاعة تؤدي إلى آثار دائمة لتحسين التمكين الاقتصادي للمرأة في المغرب؟ 1 يشير معدل النشاط إلى حصة السكان الذين يشاركون أو يسعون إلى المشاركة في إنتاج السلع والخدمات في مجموع سكان البلد. |
| Date: | 2023–03 |
| URL: | https://d.repec.org/n?u=RePEc:ocp:pbecon:pb06_24 |
| By: | Laura Eline Slot (UMR MoISA - Montpellier Interdisciplinary center on Sustainable Agri-food systems (Social and nutritional sciences) - Cirad - Centre de Coopération Internationale en Recherche Agronomique pour le Développement - IRD - Institut de Recherche pour le Développement - CIHEAM-IAMM - Centre International de Hautes Etudes Agronomiques Méditerranéennes - Institut Agronomique Méditerranéen de Montpellier - CIHEAM - Centre International de Hautes Études Agronomiques Méditerranéennes - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement - Institut Agro Montpellier - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement); Fatiha Fort (UMR MoISA - Montpellier Interdisciplinary center on Sustainable Agri-food systems (Social and nutritional sciences) - Cirad - Centre de Coopération Internationale en Recherche Agronomique pour le Développement - IRD - Institut de Recherche pour le Développement - CIHEAM-IAMM - Centre International de Hautes Etudes Agronomiques Méditerranéennes - Institut Agronomique Méditerranéen de Montpellier - CIHEAM - Centre International de Hautes Études Agronomiques Méditerranéennes - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement - Institut Agro Montpellier - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement) |
| Abstract: | Climate change poses significant challenges for countries in Northern Africa such as Morocco. Smallholder farmers are especially vulnerable to climate change because they experience several challenges in the adoption of climate-resilient practices. The sustainable and well-managed cultivation of the cactus pear (Opuntia ficus-indica) could contribute to conservation agriculture (CA) in dry climates threatened by climate change. Due to its high-water-use efficiency and ability to withstand extremely dry conditions, the cactus pear is increasingly being recognised as a more sustainable alternative to traditional livestock foraging in dryland areas. Compared to many other common crops and fodder, the cactus pear is easy to establish, maintain, and has a wealth of uses. Two innovative cultivation techniques are being developed: (1) the use of mixed inoculum formulations containing AMF (Arbuscular Mycorrhizal Fungi) and PGPB (Plant Growth-Promoting Bacteria) in the soil; and (2) intercropping between perennial (cactus pear) and short-term species (field crops). We propose to identify factors that could facilitate farmers' innovation adoption. We conducted face-to-face interviews with 24 smallholder cactus pear farmers in Morocco. We concluded that farmers do not yet have a comprehensive understanding of the principles of the innovations. The main aim of farmers was to increase production and income. Farmers, in general, pay little attention to the environment. The recommendations that are given in relation to these issues are that training and social networks are essential in innovation transfer, adoption needs to be facilitated by providing resources, an innovation transfer needs to be adapted to the current and future needs of farmers, and we need patience so that farmers can slowly learn the innovations. |
| Keywords: | climate change, climate-resilient practices, farmers’ income, Mediterranean agriculture, drought resistance, climate change climate-resilient practices farmers' income Mediterranean agriculture drought resistance, farmers' income |
| Date: | 2024–12–18 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-04851453 |
| By: | Bouchta Aloui (ESSOR - Laboratoire Essor: droit, philosophie et société, FSJES-Fès - Faculté des Sciences Juridiques, Economiques et Sociales de Fès); Salim El Alaoui (FSJES-Fès - Faculté des Sciences Juridiques, Economiques et Sociales de Fès, USMBA - Université Sidi Mohamed Ben Abdellah, ESSOR - laboratoire essor : droit, philosophie et société) |
| Abstract: | Grüne Finanzen, auch bekannt als nachhaltige oder ethische Finanzen, erheben sich als ein aufkommendes Paradigma, das auf die wachsenden Bedenken hinsichtlich des Umweltschutzes und des imperativen Bedarfs an nachhaltiger Entwicklung reagiert. Ihr Hauptziel besteht darin, finanzielle Mittel in Projekte und Initiativen zu lenken, die dem Umweltschutz, der Verringerung der Treibhausgasemissionen und der Förderung einer Wirtschaft, die den Schutz der Biodiversität priorisiert, gewidmet sind. Die wesentlichen Dimensionen grüner Finanzen sind erstens die Förderung von Investitionen in Projekte, die die Umweltverträglichkeit unterstützen, wie erneuerbare Energien, Energieeffizienz und die nachhaltige Bewirtschaftung natürlicher Ressourcen. Zweitens müssen Projekte, die unter grünen Finanzen finanziert werden, strenge Umweltkriterien erfüllen, um mit den internationalen Nachhaltigkeitsprinzipien übereinzustimmen. Diese Kriterien umfassen Umweltleistungsstandards, ökologische Auswirkungenbewertungen und andere relevante Maßnahmen zum Schutz der Umwelt. Allerdings, in Abwesenheit eines expliziten und rigorosen rechtlichen Rahmens, besteht das Risiko von „Greenwashing", bei dem einige Projekte fälschlicherweise als ökologisch ausgeben, um Investoren anzulocken. Daher werden Transparenz und Verifizierung zwingend erforderlich, um solche betrügerischen Praktiken zu verhindern. Es ist daher entscheidend, dass Finanzinstitute wie Banken, Investmentfonds und Versicherungsunternehmen strenge Umweltkriterien in ihre Investitionsentscheidungsprozesse integrieren und verantwortungsvolle Finanzpraktiken fördern. Die größte Herausforderung der grünen Finanzen liegt darin, die finanziellen Mittel vom traditionellen Sektor in Projekte umzuleiten, die auf den Umweltschutz ausgerichtet sind. Indem sie die Entwicklung von Sektoren wie erneuerbaren Energien fördert, trägt sie aktiv zur Minderung schädlicher Umweltauswirkungen bei. Im Wesentlichen stellt die grüne Finanzierung einen innovativen Ansatz dar, der darauf abzielt, finanzielle Interessen mit den Anforderungen der Umweltverträglichkeit in Einklang zu bringen und somit eine grundlegende Rolle im Übergang zu einer ökologischeren und widerstandsfähigeren Wirtschaft zu spielen. |
| Abstract: | Green finance, also known as sustainable or ethical finance, is emerging as a paradigm that addresses growing concerns about environmental preservation and the imperative to promote sustainable development. Its primary goal is to direct financial flows toward projects and initiatives dedicated to environmental protection, reducing greenhouse gas emissions, and fostering an economy that prioritizes biodiversity conservation. The key dimensions of green finance are, first, the promotion of investments aimed at projects that support environmental sustainability, such as renewable energy, energy efficiency, and the sustainable management of natural resources. Second, projects financed under green finance must meet strict environmental criteria to align with international sustainability principles. These criteria include environmental performance standards, ecological impact assessments, and other relevant measures for environmental protection. However, in the absence of an explicit and rigorous legal framework, the risk of "greenwashing" arises, where some projects may falsely claim to be ecological in order to attract investors. Consequently, transparency and verification become imperative to prevent such fraudulent practices. Therefore, it is crucial that financial institutions, such as banks, investment funds, and insurance companies, integrate stringent environmental criteria into their investment decision-making processes and promote responsible financial practices. The major challenge of green finance lies in redirecting financial flows from traditional sectors to projects focused on environmental preservation. By supporting the development of sectors such as renewable energy, it actively contributes to mitigating harmful environmental impacts. In essence, green finance represents an innovative approach that seeks to align financial interests with the demands of environmental sustainability, thus playing a fundamental role in the transition to a more ecological and resilient economy. |
| Abstract: | La finance verte, aussi connue sous les termes de finance durable ou éthique, s'affirme comme un paradigme émergent répondant aux préoccupations croissantes concernant la sauvegarde de l'environnement et l'impératif de promouvoir le développement durable. Son objectif primordial réside dans l'orientation des flux financiers vers des projets et initiatives dédiés à la préservation de l'environnement, à la réduction des émissions de gaz à effet de serre et à la promotion d'une économie qui accorde une priorité à la sauvegarde de la biodiversité. Or, les dimensions essentielles de la finance verte se déclinent, primo, dans la promotion des investissements orientés vers des projets favorisant la durabilité environnementale, tels que les énergies renouvelables, l'efficacité énergétique et la gestion durable des ressources naturelles. Deuzio, les projets financés sous l'égide de la finance verte doivent répondre à des critères environnementaux stricts, afin d'être conformes aux principes internationaux de durabilité. Ces critères incluent des normes de performance environnementale, des évaluations de l'impact écologique et d'autres mesures pertinentes pour la sauvegarde de l'environnement. Toutefois, en l'absence d'un cadre juridique explicite et rigoureux, le risque de « greenwashing » se manifeste, où certains projets peuvent se revendiquer abusivement comme écologiques dans le but d'attirer des investisseurs. Dès lors, la transparence et la vérification deviennent impératives pour prévenir de telles pratiques frauduleuses. En conséquence, il est crucial que les institutions financières, telles que les banques, les fonds d'investissement et les compagnies d'assurance, intègrent des critères environnementaux stricts dans leurs processus décisionnels d'investissement et promeuvent des pratiques financières responsables. L'enjeu majeur de la finance verte réside dans la réorientation des flux financiers du secteur traditionnel vers des projets centrés sur la sauvegarde de l'environnement. En favorisant le développement de secteurs tels que les énergies renouvelables, elle contribue activement à atténuer les impacts environnementaux néfastes. En essence, la finance verte incarne une approche novatrice visant à harmoniser les intérêts financiers avec les exigences de durabilité environnementale, jouant ainsi un rôle fondamental dans la transition vers une économie plus écologique et résiliente. |
| Keywords: | finance verte développement durable RSE prêt vert entreprises banques charte, finance verte, développement durable, RSE, prêt vert, entreprises, banques, charte |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-04775425 |
| By: | Aziz Ajbilou; Karim El Aynaoui |
| Abstract: | اعتمادا على مختلف البيانات المتوفرة لدى المندوبية السامية للتخطيط ووزارة الصحة والمرصد الوطني للتنمية البشرية، يهدف هذا القال إلى دراسة مراحل تطور الخصوبة في المغرب. وعليه فمن خلال دراسة هذه البيانات يتضح أن الخصوبة سجلت منذ سنة 2010 نوعا من الاستقرار أوبالأحرى ارتفاعا طفيفا وخاصة بالمناطق الحضرية، حيث ارتفع معدل الخصوبة من 1.8 طفل لكل امرأة سنة 2010 إلى 2.2 طفل لكل امرأة سنة 2019. وعلى العكس من ذلك، استمر معدل الخصوبة في الانخفاض في المناطق القروية إلى غاية سنة 2014، ليصل إلى 2.5 طفل لكل امرأة، ثم ليسجل بدوره ارتفعا قليلا بعد ذلك ليصل إلى 2.7 طفل لكل امرأة سنة 2019 |
| Date: | 2024–04 |
| URL: | https://d.repec.org/n?u=RePEc:ocp:pbecon:pb13_24 |
| By: | Imad Assarraj (Université Mohammed Premier [Oujda] = Université Mohammed Ier); Mohamed Al Maache (Université Mohamed 1 Oujda MAROC) |
| Abstract: | This study examines the impact of digital transformation on Corporate Social Responsibility (CSR) among companies listed on the Casablanca Stock Exchange. Digital transformation, characterized by adopting technologies such as Artificial Intelligence, Big Data Analytics, and the Internet of Things, is increasingly recognized as a critical driver of CSR performance. This research uses a sample of 45 companies, analyzing their CSR efforts through ESG (Environmental, Social, and Governance) ratings obtained from Refinitiv and their digital transformation efforts measured by keyword frequency analysis from their 2023 annual reports. The findings reveal a positive relationship between digital transformation and CSR, particularly in governance and social responsibility dimensions. Regression analysis confirms that companies with higher levels of digital transformation tend to achieve better ESG scores, suggesting that digital transformation is a technological upgrade and a strategic imperative for enhancing CSR. The study highlights the variation in impact across different sectors, with heavily regulated industries such as banking and finance showing stronger correlations. The implications for businesses are clear: investing in digital transformation can significantly improve sustainability practices and stakeholder engagement. Future research should explore specific digital strategies that enhance CSR and investigate potential non-linear relationships in greater depth. |
| Keywords: | Digital Transformation Corporate Social Responsibility ESG Casablanca Stock Exchange JEL Classification: M14 M15 Paper type: Empirical research, Digital Transformation, Corporate Social Responsibility, ESG, Casablanca Stock Exchange JEL Classification: M14 |
| Date: | 2024–11–03 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-04771367 |