Relations de Long Terme entre Investissement, Déficit Extérieur et Autofinancement sur un Panel Sectoriel

Long Run Relationships between Investment, Trade Deficit and Cash-Flow: Evidence from Sectorial Panel

Hassan Ghassan ()

MPRA Paper from University Library of Munich, Germany

Abstract: The aim of this paper is to determine stable long-run relationships between investment, trade balance and cash-flow variables using Sectorial level of Morocco economy, in addition to the direction of the causality between them. Such relations are deduced using Granger causality, Johansen cointegration, error correction term causality tests and FMOLS estimates. Furthermore, we use the Hansen stability test of all these tests using LC, MeanF and SupF. The findings exhibit stable Sectorial configurations, indicating that there are some models with supply constraints and some others with financial constraints.

Keywords: Causality; Cointegration; FMOLS; Stability; Investment; Trade Deficit; Moroccan Activity Sector. (search for similar items in EconPapers)
JEL-codes: C5 F4 G0 (search for similar items in EconPapers)
Date: 2003-04-05, Revised 2003-09-10
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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