Spillovers from Europe into Morocco and Tunisia

Author/Editor: De Bock, Reinout ; Florea, Daniel ; Toujas-Bernate, Joël
Publication Date: October 01, 2010
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Summary: This paper examines the economic and financial linkages between Morocco and Tunisia and their European partners. Using structural vector autoregressions, we find that growth shocks in European partner countries generate significant responses on growth in Morocco and Tunisia. For Tunisia, exports and, to a much lesser extent, tourism appear to be the major transmission channels. In Morocco, exports, remittances and tourism play relatively equal roles. An analysis with sectoral data supports these results.
Series: Working Paper No. 10/238
Subject(s): Business cycles | Cross country analysis | Economic growth | Economic recession | Europe | Exports | External shocks | Inward remittances | Morocco | Spillovers | Tourism | Tunisia

Author's Keyword(s): Morocco | Tunisia | Spillovers | Trade | Business cycles | Transmission channels
Publication Date: October 01, 2010
Format: Paper
Stock No: WPIEA2010238 Pages: 21
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