Export diversification, sophistication and economic growth in Morocco : An Econometric Analysis

Since the work of Imbs and Wacziarg (2003), most recent studies confirm a U-reverse relationship between export diversification and wealth creation (Hesse, 2009, Cadot et al., 2011, Naudé and Rossouw, 2011, Agosin Et al., 2012). Thus, up to a relatively high level of income, the relationship between diversification and per capita income is positive. Furthermore, diversification plays an essential role in controlling the vagaries of economic conjunctureand reduces the impact of fluctuations in the prices of raw materials on the economies. It must also help to improve international competitiveness. Applied to a country like Morocco, this conclusion suggests that greater diversification of exports would lead to a higher level of development. Econometric approach The choice of Morocco as a country of study is perfectly adapted to this problem because it does not suffer from a shortage of productive capacities that could be redeployed for new activities in order to promote strong, sustained and sustainable economic growth. We will try in this article to analyze the impact of diversification of exports in the growth process of the Moroccan economy with an emphasis on the results of the most recent studies.