Macroeconomic stability factors of the USD/MAD exchange rate in the context of an open Moroccan economy

Auteurs

  • Abderrahman OUHSSAIN
  • Aziz BENSBAHOU

DOI :

https://doi.org/10.5281/zenodo.7732291

Mots-clés :

ARDL, exchange rate, direct foreign investments, external public debt, interest rate

Résumé

This article aims to analyze the factors of the USD/MAD exchange rate in Morocco for the period from 1980 to 2018. We have used the ARDL model to verify the long-term stable relationship for a threshold of 1% between the USD/MAD exchange rate and its explanatory variables.

The results of our study show that in a long-term perspective, direct foreign investments, the money stock (M3), and the interest rate have a positive impact on the USD/MAD exchange rate, whereas the consumer price index, the exchange reserves, and the stock of external public debt have a negative impact on the USD/MAD exchange rate.

Bibliographies de l'auteur

Abderrahman OUHSSAIN

ORCID: 0000-0001-8901-828X, PhD student
Laboratory of Economics and Public Policy
Faculty of Economics and Management
Ibn Tofail University, Kenitra, Morocco

Aziz BENSBAHOU

Professor of Higher Education
Laboratory of Economics and Public Policy
Faculty of Economics and Management
Ibn Tofail University, Kenitra, Morocco

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Publiée

2023-03-06

Comment citer

OUHSSAIN , A. ., & BENSBAHOU , A. . (2023). Macroeconomic stability factors of the USD/MAD exchange rate in the context of an open Moroccan economy. African Scientific Journal, 3(16), 335. https://doi.org/10.5281/zenodo.7732291

Numéro

Vol. 3 No 16 (2023)

Rubrique

Articles

Licence

(c) Tous droits réservés African Scientific Journal 2023

Creative Commons License

Ce travail est disponible sous licence Creative Commons Attribution - Pas d'Utilisation Commerciale - Pas de Modification 4.0 International.