The purpose of this paper is to analyze the dynamic response of a small subset of variables to exchange rate shocks by using a new method based on a set of theory-consistent sign restrictions for the purpose of identifying shocks over time (1995Q1–2019Q1) in the Moroccan economy. It is...

Since the mid-1990s, we observe a global increase of current account imbalances. In 2007, before the climax of the financial crisis, they reached 2% of world GDP in absolute value. At the global level, the persistence of large current account imbalances is a threat to the macroeconomic and...

Dans l’etude ci-dessous on a ete realise une interpretation de l'impact des fluctuations des taux de change du leu moldave (MDL) sur certaines variables economiques. La periode consideree est Novembre-Decembre 2014 et le debut de l'annee 2015. Notamment au cours de cette periode, le taux de la...

On admet généralement que la mobilité internationale serait devenue très forte à la suite de la libéralisation et de l'intégration financière des vingt dernières années. De façon surprenante, la plupart des travaux empiriques « à la Feldstein-Horioka » ne valident cette hypothèse....

La récente crise économique et fi nancière appelle non pas une modification de la stratégie de politique monétaire, mais une meilleure prise en compte des conditions financières et du risque de crise fi nancière dans la mise en oeuvre de cette stratégie : telle semble être la principale...

The paper aims to test the Marshall-Lerner-Robinson condition by using the unit-root test of Ng-Perron (2001) and the cointegration test of Perron-Rodriguez (2001). These tests are based on procedures for removing the trend using the GLS, leading to remove no-stochastic components. By examining...

According to the latest UNCTAD report on foreign direct investment (Unctad, 2017) Global FDI flows are expected to reach nearly $ 1.8 trillion in 2017, then $ 1.85 trillion in 2018 - still well below the record of 2007. North Africa received $ 14.5 billion as inward FDI flows, accounting for...

Africa, with its natural resources has become the catalyst for the functioning of the global economy, China has already understood and has taken the lead in conquering this gigantic market with over a billion consumers, while Western multinationals are relocating to China, China is abandoning...

The real exchange rate alone cannot decide the fate of growth. The wider and less aggregative the model adopted, the lower is the effect of a currency depreciation. Especially when the depreciation monitored over a long period of time and integrated into the behaviour of economic actors. In the...

The aim of the paper is to test the Marshall-Lerner-Robinson condition by using the unit-root test of Ng-Perron (2001) and cointegration test of Perron-Rodriguez (2001). These tests are based on procedures for removing the trend using the GLS, leading to remove no-stochastic components. By...