Analysis of Factors Affecting the Performance of Moroccan Exports

2024-02-12 08:00:17 Viewed: 126 Downloads: 179
  • Analysis of Factors Affecting the Performance of Moroccan Exports

      Tahar Harkat, Samir Aguenaou, Jawad Abrache and Anas Saoudi

     Publisher: African Review of Economics and Finance

    Pub: 2024-02-12 08:00:17

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  • This study uses the autoregressive distributed lag (ARDL) technique and the error correction model (ECM) to investigate the long-run and short-run associations between export performance and macroeconomic variables in Morocco. These macroeconomic variables are GDP growth, real effective exchange rate (REER), consumer price index (CPI), foreign direct investments (FDI), and gross capital formation (GCF). Using data that covers the period between 1990 and 2020, empirical results support a negative long-run association between exports and REER, and a negative long-run relationship between exports and CPI. At a 10% significance level, results also support a positive long-term relationship between exports, FDI, and GCF. The results derived from the ECM model suggest that the short associations are between exports and GCF at a 5% significance level, and between exports and REER at a 10% significance level, which accounts for a positive coefficient and a negative one, respectively. The findings reveal insightful policy implications to enhance Moroccan exports through controlling REER, encouraging foreign investments, and enhancing GCF.

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  • Keywords

    Exports performance, Morocco, ARDL, ECM, Macroeconomic variables


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