
Elhadj EzzahidMohammed V University | um5a · Faculty of Law and Economics
Elhadj Ezzahid
PhD In Economics
Multifactor productivity analysis and the measurement of capital stock and labour input.
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Introduction
My current research focuses on large-scale modelling of economic systems, growth empirics, energy systems dynamics, urban systems modelling, development issues, public policy evaluation, and interrelated topics.
Publications
Publications (91)
In this paper we analyze operational risk in case of zero-inflated frequency data. We show that standard Poisson distribution does not suit correctly excess zero counts data. Alternatively, Zero-inflated Poisson (ZIP) distribution fits better such data. To assess the benefits of the use of ZIP distribution on operational risk management, we develop...
Ce travail utilise la modélisation ascendante pour explorer les trajectoires d’évolution future du mix électrique marocain. Trois scénarios ont été développés en utilisant le modèle OSeMOSYS. Celui de référence reflète l’évolution du secteur électrique marocain dans la situation du maintien du statu quo (Business As Usual-BAU). Le second scénario,...
المقال يلاحظ مدى المشروع التنميطي للثقافات المدعية للعالمية.
J'avais dernièrement quelques malentendus avec des étudiants qui préparent sous ma supervision leurs projets de fin d'études (PFE). Ces projets consistent à élaborer des recherches à rédiger des documents exigés pour l'obtention du diplôme du master. J'ai jugé que c'est mieux qu'ils prendraient plus de temps pour améliorer leurs mémoires ce qui leu...
this book contains four essays on current issues.
Le compte satellite d'emploi (CSE) est un cadre intégré et cohérent décrivant l'état du marché de travail. Le passage des données initiales, fournies par les différentes sources statistiques, aux données incluses dans le compte satellite d'emploi est effectué selon un processus d'intégration/réconciliation objectif, méthodique et transparent. La bo...
Une note définissant le compte satellite d'emploi et le système d'information sur le marché du travail en montrant en quoi ils sont différents.
The analysis of production networks plays a crucial role in understanding the economic landscape and addressing development issues. This paper applies network theory to analyze the Moroccan production network, examining its holistic structure, industries and cluster. It uses national accounting data and OECD datasets from 66 countries. Our investig...
Les secteurs d'activité ne se valent pas en termes d'importance dans une économie particulière. L'approche la plus communément utilisée pour évaluer cette importance, connue sous l'appellation de « secteurs clés » ou « key sectors », se fonde exclusivement sur les multiplicateurs de demande et d'offre. Une autre approche employée est la méthode de...
Developing countries encounter numerous challenges, such as limited access to reliable electricity and a heavy reliance on imported fossil fuels. To satisfy the rising energy demand, which is essential for economic growth, these regions are shifting towards sustainable energy solutions. Solar and wind power have emerged as key and secure energy sou...
This research contributes to the ongoing discourse concerning the efficiency of public capital and its influence on the productivity of private capital and total factor productivity within African economies. Employing the standard production approach, we include public capital as a distinct input to assess its specific impact on output growth and t...
The trends, the current situation, and the sectoral employment potential for women in Morocco.
The paper examines the granularity of the manufacturing sector as a key determinant of aggregate productivity in the context of a developing economy. We investigate this hypothesis in the case of Morocco, an economy that has yet to
rich the emergent market status. Our findings support that the large firms are significant drivers of fluctuations wit...
Water expenditures variable, as the primary indicator of water consumption, is primordial to analysing and designing water policies. Numerous studies have analyzed water expenditures by considering various factors, including social, spatial, and climate variables predominantly relying on modeling tools often perceived as “black boxes”. In this stud...
Dans ce rapport, nous proposons d’utiliser une nouvelle approche pour analyser les structures productives au Maroc. Nous appliquons les outils de la théorie des réseaux aux tableaux des échanges inter-industriels de l'économie marocaine. Nos résultats montrent que le réseau national de production présente des caractéristiques intuitives dans le sen...
Our main hypothesis in this paper is that what needed to be added in the endovers that seek to use finance as a lever for poverty and fragility alleviation is the non-matching of the used tools with the specific needs of individuals and units. This idea is ingrained in a deep conviction that what is needed is to understand how to tackle the hindran...
The COVID-19 pandemic has had a significant and unprecedented impact on the global economy, affecting both supply and demand in various industries. The literature on the pandemic has mainly focused on evaluating its real-time impact, using input–output analysis as a toolset. However, this paper aims to identify the magnitude of the large shock afte...
The role of the production network in shock propagation has been an issue of considerable interest since the Great Recession. However, the empirical literature has only focused on advanced and emerging countries. This paper aims to contribute to filling this gap by examining the case of Morocco, a developing country belonging to the lower-middle-in...
Dans cette note je m'interroge sur le lien entre l'évolution des salaires et l'évolution de la productivité du travail au Maroc en utilisant les données de 2014 du compte satellite d'emploi.
Le diagnostic conjoncturel et le ciblage des politiques économiques de l'emploi nécessitent le profilage des activités économiques en la matière. Ce papier vise à mettre en place une cartographie des branches et secteurs d'activités selon leur attitude vis-à-vis de l'emploi. Pour cela nous recourons aux matrices des emplois publiées par les comptes...
L'analyse input-output s'est imposée comme l'un des meilleurs instruments de la boite à outils des économistes. Cependant, elle exige la disponibilité de données détaillées en l'occurrence des tableaux entres-sorties symétriques (TES) ou, à default, des tableaux ressources-emplois (TRE) exprimés, tous les deux, en produits locaux. Cette exigence n'...
Private investment is an important catalyst of long-term growth. In addition to its direct effect on output, it incorporates technical progress which is of paramount importance to the growth of total factor productivity. This work investigates empirically the effect of public investment along with measures of the quality of institutions on private...
Le Maroc vient de publier en 2022 sa nouvelle série de comptes nationaux annuels couvrant la période 2014-2021, dont l’année de base est 2014. Ces comptes viennent s’ajouter aux deux anciennes séries de 1998 et 2007. En l’absence de raccordement officiel de ces comptes en une seule série temporellement homogène, l’analyste et l’historien de l’écono...
Over the last four decades, the relative price of investment goods in Africa has gone through a relatively large decrease, resulting in a steady convergence towards the levels recorded in high‐income countries. This fact begs the following question: To what extent might the relative price decrease be a driving force behind the economic performance...
A country's preparedness to face crises is a multidimensional competence that depends on several attributes (economic factors, governance features, infrastructure and institutional endowments). This paper proposes a new approach to rank countries based on their degree of preparedness to deal with large-scale crises. The measured characteristics of...
Purpose
Do financial services needs depend on the firm size? To highlight the impact of different categories of financial services on firm performance, we establish a correspondence between financial services and firms' performance classified according to their size, controlling with the determinants of firm performance and the obstacles that hinde...
The knowledge of the potential drivers of urban concentration is of prime importance for policy-makers. This paper examines links between some structural variables and some measures of urban concentration in African countries. Cross-section regressions are used to single out determinants of urban concentration. There are three results worth highlig...
this document explains what do we mean by the transversality conditions in an optimal control problem.
The purpose of this paper is twofold, first, provide a comparative analysis of interregional and intraregional inequalities in terms of financial inclusion across Moroccan regions. Second, explore the determinants of regional financial inclusion in a panel of 12 Moroccan regions. We used the principal component analysis methodology to construct our...
Renewable energies are a strategic source of green growth for countries suffering from a shortage of fossil fuels. They represent a sustainable, inexhaustible and decarbonized answer to the future challenges of energy dependency. Morocco has adopted a new energy strategy focused on the development of solar, wind and hydroelectric energy to strength...
Même s’il existe plusieurs travaux explorant les faits stylisés dans les pays en développement, y compris le Maroc, leurs conclusions sont devenues caduques en raison des transformations économiques récentes. De plus, ces travaux ne prennent pas en considération l’existence, au sein de l’économie marocaine, de deux secteurs (agricole et non agricol...
Cette note utilise des données éparses pour donner une idée sur les marges et la formation des prix dans les marchés de gros au Maroc.
An introduction to the regulatory framework of electricity transport in Morocco.
This paper aims to first, develop an analytical framework that examines the role of financial inclusion in promoting investment and economic growth, through the reduction of financial imperfections and considering the heterogeneity of access to the financial system. When performing a comparative analysis of the levels of financial inclusion in Afri...
This note discusses the nature and the interpretation of the shadow price of capital in the Ramsey model.
Purpose
This study has a dual purpose. The first is constructing a financial inclusion index to investigate if the reforms implemented during the last decades at the macroeconomic and sectoral levels have contributed to increase the financial inclusion level in Morocco. The second is to deepen the investigation to explore the impact of these reform...
La pandémie Covid-19 a constitué une bifurcation disruptive du monde. Tous les domaines de la vie humaine ont été touchés. L'enseignement est parmi les activités qui ont été les plus affectées. Pour assurer la continuité pédagogique et comme dans les autres pays du monde, les universités marocaines ont mis les mains et les pieds pour mettre en plac...
Ce document dérive la vitesse de convergence dans un modèle de Solow
Le but de cette étude est d'identifier les facteurs qui influent sur l'adoption de l'assurance agricole dans la province de Benslimane (Maroc) en choisissant 6 des 12 communes rurales constituant cette province pour mener une enquête de terrain. L'échantillon comprend 177 agriculteurs. Les données sur seulement 150 agriculteurs sont retenues et int...
L’environnement de décision d’une organisation est plus ou moins
complexe. Cette caractéristique est accentuée par les phénomènes d’instabilité, de turbulence et/ou d’incertitude. Trois types majeurs
de complexité sont à distinguer : la complexité technique, la complexité cognitive et la complexité sémantique.
La réponse des organisations doit ê...
This paper discusses the sources of real effective exchange rate appreciation in Morocco as a small developing economy that opens its market to international economies. The stylized facts show a downward tendency of real effective exchange rate from 2000Q1 to 2019Q4. The question is to explain how real effective exchange rate appreciation occurs du...
This paper examines the opportunity of exchange rate regime flexibilization in Morocco under the policy of capital account liberalization. Basing on our findings in Ezzahid and Maouhoub (2014), we develop a new theoretical game model with four economic agents, namely: monetary authorities, government, foreign firms and domestic firms. We explore th...
Les recherches sur les sources de croissance de long terme des économies montrent qu'elle dépend plus de la croissance de la productivité que de la croissance des volumes des inputs accumulés. Au Maroc, les résultats disponibles fournissent des évidences sur le rythme très lent de la croissance de la productivité mesurée par la PTF ou le rapport pr...
Modèle de croissance du Maroc: par quelle(s) réforme(s) commencer?
Elhadj EZZAHID
Faculté des sciences juridiques, économiques et sociales-Agdal
We discuss the link between financial development and economic growth through Total Factor Productivity (TFP) canal in African economies. First, we use a composite index to hierarchize financial development in 40 African countries. Then, we study this relationship by using the methodology of panel data based on the Breusch-Pagan LM Test and Hausman...
Our goal in this paper is to explore the determinants of tax revenues in developing countries. After reviewing the main determinants discussed in economic literature, two models are estimated in a panel including 29 lower middle income countries over the period 2001-2014. The first concerns the tax capacity and the second the tax effort. The result...
Dans cette présentation faite pour les ingénieurs d'un parti politique marocain j'explique que pour bâtir le modèle de croissance économique il faut commencer par une réforme radicale de la sphère du pouvoir. J'utilise le travaux de D. North, de D. Acemoglu et de bien d'autres pour montrer que cette réforme est sine qua non pour construire des inst...
Growth theory seeks to
understand why some
countries are richer than
others. The related empirical
research focuses on two main
topics. First, it attempts to
identify the key determinants
of growth rate. Second, it
tries to verify the existence
of any convergence process,
to precise its type (β-convergence, σ-convergence, conditional, unconditional...
On a longtemps mis l'accent sur l'accumulation des ressources en tant que principal facteur de croissance économique. Or, cette conception présente des limites pour l'explication des différentiels de croissance entre pays. La littérature empirique valide la thèse selon laquelle c'est la productivité des ressources, mesurée par la productivité total...
A reply to the thesis concerning the deep sources of underdevelopment in Arab countries. I claim that dictatorship is the major impediment to rational thinking and hence to growth and to development.
Growth theory seeks to understand why some
countries are richer than others. The related empirical research focuses on two main topics. First, it attempts to identify the key determinants of growth rate. Second, it tries to verify the existence of any convergence process, to precise its type (β-convergence, σ-convergence, conditional, uncondition...
Growth theory seeks to
understand why some
countries are richer than
others. The related empirical
research focuses on two main
topics. First, it attempts to
identify the key determinants
of growth rate. Second, it
tries to verify the existence
of any convergence process,
to precise its type (β-convergence, σ-convergence, conditional, unc...
Copulas are useful tools for formalizing the dependence structure between variables. They have proven to be very valuable in economics, where the dependence plays a key role. In this chapter, we use copulas to analyze the dependence between inflation and US/Euro exchange rates in the Euro area, during different periods. We first explore the depende...
Investment is at the heart of economic growth. It increases the available stock of capital for productive activities and allows the introduction, in the productive process, of improved technology embedded in new capital items. Monitoring accumulation and use of this capital is a big issue. Our paper aims to bring a diagnostic of the Moroccan case b...
. تناقش هذه الورقة القضايا التي يطرحها التحول السريع للاقتصادات والمهارات التي يحتاجها وتقترح إطارا للاستشراف,
This paper aims to verify how the performance of the agricultural sector affects the
process of structural transformation of the Moroccan economy. It analyzes the dynamics of
productivity in two ways. First, the speed of convergence of agricultural productivity to the level
recorded by other sectors of the economy. The second, the decomposition of...
In this paper, we explore the validity of rank-size rule in the Moroccan urban system. We use data from the 1982, 1994, and 2004 censuses. Three thresholds are considered to truncate the data: 5000, 50000, and 100000 residents. Power law states that the rank (r) of a city is proportional to a power of its size (Sr), that is, r ̴ S•α. The ordinary l...
Our main goal in this paper is to classify productive sectors according to the combination
of two effects. The first effect lies in the change of their external dependency on imported
inputs. The second effect is related to the change of their ability to generate value-added
by unit of final demand. To perform this ordering of productive sectors, w...
Ce document est un premier draft de questions et d'exercices corrigés en comptabilité nationale.
The concept of NAIRU summarized the observed negative correlation between the unemployment rate and the inflation rate for a number of countries. This correlation persuaded some analysts of the impossibility for governments to simultaneously target both low unemployment and price stability. Therefore, it was government's role to seek a point on the...
This paper explores the links between gradual capital account liberalization and the exchange rate
regime in Morocco where the process of economic and financial openness is relatively advanced.
Using a game theory model with two economic agents, that are monetary authorities and domestic
firms, we explore the best choice concerning the exchange rat...
This paper studies the impact of the stock market continuity on the returns volatility and on the market efficiency in the Casablanca Stock Exchange. For the most active stocks, the trading mechanism used is the continuous market which is preceded by a call market pre opening session. Results obtained concerning return volatility and efficiency und...
The exploration of the structural features and sectoral interdependences of and in an economy is fundamental for the understanding of its modes of functioning and of its transformations over time. Input-output analysis is largely used to fulfill this objective. Furthermore, information provided by the Leontief inverse matrix is useful for the ident...
Modeling short-run interest rate is of primary importance for all participants in financial markets. In this paper, we attempt to model short-run interbank interest rate in Morocco by the well-known Ornstein-Uhlenbeck model (OU) called also the mean-reverting model. The results show that the speed of reversion is high and that the mean-reverting le...
In the past twenty years a new development in the extreme value theory has been done, especially for the " Peaks Over Threshold (POT) approach ". This approach, based on the analysis of the data exceeding a sufficiently high threshold, aims to improve the efficiency of the extreme quantile estimators. The selection of an appropriate threshold is on...
Our aim in this paper is to model the bid-ask spread resulted from the quotes of USD/MAD by the Moroccan central bank, which is the reference on the Moroccan foreign exchange market. In this respect, we discussed the microstructure of the Moroccan foreign exchange market, which is of primary importance for the analysis of the high frequency fluctua...
Modeling event counts is important in many fields. For this purpose, the Poisson regression model is often used. However, this model assumes the equidispersion of the data. Unfortunately, this assumption is often violated in the observed data. The source of overdispersion depends on many situations. When the source of overdispersion is the excess o...
In this paper we analyze operational risk in case of zero-inflated frequency data. We show that standard Poisson distribution does not fit correctly excess zero count data. Alternatively, Zero-inflated Poisson (ZIP) distribution fits better such data. To assess the benefits of the use of ZIP distribution in case of excess zero on operational risk m...
Many events have contributed to the recognition of operational risk as a major problem by banks and their regulators. Basel Committee on Banking Supervision (BCBS) adopted two innovative features in its accord of 2004. First, it recognized operational risk as a distinct risk beside credit and market risks. Second, the methodologies proposed to calc...
The issues of the existence and the direction of causality between inance and growth are not yet settled. Even if theoretical and historical evidences suggest an important contribution of inance to foster economic growth, empirical studies provide conlicting results depending upon analytical approaches, econometric techniques, and used data sets. T...
Le secteur financier comprend l’ensemble des instruments, des institutions, des règles et des marchés qui contribuent à la fourniture des services financiers aux agents économiques. Ces services rendent possible le fonctionnement de l’économie via la réalisation d es transactions de toutes sortes. Ils augmentent le niveau des ressources mobilisées...
Dans cette brève note de conjoncture internationale, j'expliquer les raisons de l'envolée des prix du pétrole sur les marchés internationaux à partir de 2002. Dans un deuxième temps, j'examine quelques éléments en relation avec le probable impact de cette hausse sur le Maroc qui est un pays important l'essentiel de ses besoins en produits énergétiq...
Au cours des dernières décennies du vingtième siècle, les modalités de création des richesses ont connu une mutation profonde. Ainsi, une nouvelle économie a pris naissance dont les fondements sont les connaissances et l’apprentissage. Dans ce contexte, les éléments qui déterminent la compétitivité des individus, des organisations et des nations so...
Questions
Question (1)
I want an already prepared model with the codes as exercice.