We study how managers respond to hurricane events when their firms are located in the neighborhood of the disaster area. We find that the sudden shock to the perceived liquidity risk leads managers to increase corporate cash holdings and to express more concerns about hurricane risk in...

The factors behind the emergence of the New Economy are still poorly understood. In this article, Pascal Petit from CEPREMAP and CNRS in France provides an institutional perspective on the developmental phases or roots of this New Economy. He analyzes the structural, institutional and...

This paper empirically analyzes the impact of agricultural exports on economic growth in Tunisia. Econometrical specifications are based on a neoclassical production function to explain this goal and the data cover the period 1988-2014. Empirical results show that agricultural exports have a...

Tunisia is considered one of the best performing countries in terms of economic growth among countries in the Middle East and North Africa. During the past 30 years, this growth was 5% on average. At the same time, the country has opted very early for a very pronounced policy of opening to the...

The study aims at examining the assumption of a “Barcelona agreement” effect on the convergence of Morocco economy. The concept of convergence will be approached according three logics: convergence of Morocco economy towards its own steady state; towards the others countries of the Agreement...

The study aims at examining the assumption of a “Barcelona agreement” effect on the convergence of Morocco economy. The concept of convergence will be approached according three logics: convergence of Morocco economy towards its own steady state; towards the others countries of the Agreement...