The aim of this paper is to determine stable long-run relationships between investment, trade balance and cash-flow variables using Sectorial level of Morocco economy, in addition to the direction of the causality between them. Such relations are deduced using Granger causality, Johansen...

The purpose of this paper is to study the model belongs to the family of structural equation models with data varying both across individuals (sectors) and in time. A complete theoretical analysis is developed in this work for the case of a dynamic recursive structure. Maximum likelihood...