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

Amina Haoudi and Ayoub Rabhi
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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

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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.

Keywords: economic growth; financial sphere; real sphere; econometrics; error correction model; Time series; Financial Integration; Intégration financière; croissance économique; sphère financière; sphère réelle; modèle à correction d'erreur; séries temporelles; Econométrie (search for similar items in EconPapers)
Date: 2016-11-01
Note: View the original document on HAL open archive server: https://hal.science/hal-02432722
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Published in Revue de Finance et de Prévisions Economiques , 2016

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-02432722

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