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Nature of causality between the financial sphere and the real sphere in a context of financial integration of the Moroccan economy
[Nature de causalité entre sphère financière et sphère réelle dans un contexte d'intégration financière de l'économie marocaine]

Author

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  • Amina Haoudi

    (CERAPE - Laboratoire de Coordination des Études et des Recherches en Analyse et Prévisions Économiques (CERAPE) - FSJES-Fès - Faculté des Sciences Juridiques, Economiques et Sociales de Fès)

  • Ayoub Rabhi

    (CERAPE - Laboratoire de Coordination des Études et des Recherches en Analyse et Prévisions Économiques (CERAPE) - FSJES-Fès - Faculté des Sciences Juridiques, Economiques et Sociales de Fès)

Abstract

This work paper studies the relationship between the financial sector in a liberalized process and the real economy, the aim is to identify the phenomenon of financial integration in emerging countries and test its contribution to economic growth in countries such as Morocco. An empirical investigation using the vector model error correction (VECM) took place to study this relationship. The result found in the econometric analysis, proves the existence of a retroactive effect between financial integration and economic growth and a significant relationship in the long term as well.

Suggested Citation

  • Amina Haoudi & Ayoub Rabhi, 2016. "Nature of causality between the financial sphere and the real sphere in a context of financial integration of the Moroccan economy [Nature de causalité entre sphère financière et sphère réelle dans," Post-Print hal-02432722, HAL.
    • Handle: RePEc:hal:journl:hal-02432722
    Note: View the original document on HAL open archive server: https://hal.science/hal-02432722
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    References listed on IDEAS

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    1. Bruno Amable & Jean-Bernard Chatelain & Olivier De Bandt, 1997. "Confiance dans le système bancaire et croissance économique," Revue Économique, Programme National Persée, vol. 48(3), pages 397-407.
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