The Impact of Monetary Policy on Private Investment in Morocco: An Analysis Using a VECM Model

L'impact de la politique monétaire sur l'investissement privé au Maroc: une analyse à l'aide d'un modèle VECM

Khadija Essalhi () and Salah Eddine
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Khadija Essalhi: UCA - Université Cadi Ayyad [Marrakech]
Salah Eddine: UCA - Université Cadi Ayyad [Marrakech]

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Abstract: The aim of this article is to analyze the relationship between monetary policy and private investment in Morocco. It explains how private sector investors react to changes in monetary policy decisions. Our study aims to understand the effect of monetary policy action on private investment in Morocco over the period 1995-2020, using the VECM method. The results indicate that in the long term, the policy rate and the money supply have a negative and significant impact on private investment, while the exchange rate and credit granted to the private sector have a positive and significant impact on private investment.

Keywords: Private investment; Policy rate; Monetary policy; Investissement privé; taux directeur; Politique monétaire; African Scientific Journal; Investissement privé; taux directeur; Politique monétaire (search for similar items in EconPapers)
Date: 2023-11-12
New Economics Papers: this item is included in nep-ara, nep-ban, nep-fdg and nep-mon
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Published in African Scientific Journal, 2023, vol 3 (Numéro 20,Octobre2023), pp.835-852. ⟨10.5281/zenodo.10123861⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-04303914

DOI: 10.5281/zenodo.10123861

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