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Book Cover
Author De Bock, Reinout, author

Title Spillovers from Europe into Morocco and Tunisia / prepared by Reinout De Bock, Daniel Florea, and Joël Toujas-Bernat.́
Published [Washington, D.C.] : International Monetary Fund, [2010]
Online access available from:
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Description 1 online resource (21 pages) : color illustrations
Series IMF working paper ; WP/10/238
IMF working paper ; WP/10/238
Contents Cover Page; Title Page; Copyright Page; Contents; I. Introduction; II. Background and Data Description; A. Economic Policy and Links with Partner Countries; 1. Total Imports and Exports (Millions of USD, 1990-2008); 2. Shares of Exports, Tourism, and Remittances (Percent of GDP), 2008; 1. Association Agreements; 3. EU Shares in Exports, Tourism, and Remittances (in Percent, average, 2005-08); 4. FDI in Morocco and Tunisia, (Average 2005-08); 1. Banks' External Debt Statistics (Percent of GDP), 2000-09; 2. Some of the Remaining Restrictions on Foreign Currency transactions and Capital Flows
9. Reactions to the Recent Slowdown in EuropeV. Sectoral Analysis; 10. Cumulative Response of Sector Growth to an External Growth Shock; VI. Policy Implications; 11. Euro Area-Real GDP and Real Imports Growth; 4. Morocco and Tunisia Shares in EU Imports; 12. EU and UMA Shares in Imports, Exports and Trade Balance; VII. Conclusion; Trade Weigths from the Global Economic Environment (GEE); References; Footnotes
B. Correlation of Growth Rates with European Partners2. Volatility and Correlation Coefficients of Growth Rates, 2000Q1-2009Q4; III. Estimating the Spillovers; A. Identification Scheme; B. Responses to External Growth Shock; 5. Response of Domestic Growth to an External Growth Shock; 3. Forecast Error Variance Decompositions; C. Alternative Identification of Shocks; 6. Short-Run Versus Long-Run Restrictions; IV. Decomposing the Spillovers by Transmission Channels; 7. Bayoumi and Swiston Approach; 8. Cumulative Responses to Growth Innovation in Partner Composite
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
Notes "October 2010."
At head of title: Middle East and Central Asia Department
Bibliography Includes bibliographical references
Notes Print version record
Subject Business cycles -- Developing countries.
International trade -- Econometric models.
Form Electronic book
Author Florea, Daniel, author
Toujas-Bernate, Joël, author
International Monetary Fund. Middle East and Central Asia Department, issuing body
ISBN 128357022X
1455209961 (E-Book)