Moustapha Hamzaoui’s research while affiliated with Abdelmalek Essaâdi University and other places

L'objectif de cet article est d'analyser la croissance régionale et le phénomène de convergence au Maroc entre 2000 et 2007. Ainsi, en s'appuyant sur les méthodes d'analyse des données spatiales et les apports théoriques et empiriques traitant des économies d'agglomération et de la convergence, nous avons analysé à l'aide de la méthode Shift-Share , le rôle des effets liés à la structure sectorielle et des effets liée à la région dans la croissance. Ensuite, nous avons testé, l'existence d'un processus de convergence et les conditions de son amélioration. Les résultats montrent d'une part, l'existence d'un processus de convergence qui se traduit par une croissance des régions pauvres supérieure à celles des régions riches. D'autre part, les variables de capitale humain d'infrastructure, permettent de réduire considérablement les disparités régionales en matière d'emploi de valeur ajoutée et de productivité du travail. Abstract The objective of this article is to analyze regional growth and the phenomen of convergence in Morocco between 2000 and 2007. Based on spatial data analysis methods and the theoretical and empirical contributions Agglomeration and convergence, we analyzed using the Shift-Share method the role of the effects related to the sectoral structure and the region related effects in growth. Then we tested, the existence of a convergence process and the conditions for its improvement. The results show, on the one hand, the existence of a process of convergence which results in a growth of the poor regions superior to those of the rich regions. On the other hand, the human capital infrastructure variables significantly reduce regional disparities in value-added employment and labor productivity.

Drawing on the literature on business dynamics, entrepreneurship and the spatial determinants of firms’ creation, this study use Exploratory spatial data analysis and spatial panel data to test the spatial patterns and dynamics of co-operatives growth in Morocco. The results confirm the existence of spatial concentration of co-operatives, a global spatial autocorrelation and local spatial autocorrelation with different spatial typologies. The results also show that the main positive spatial determinants for co-operatives growth are the existence of co-operatives culture, the males’ unemployment rate, and the density of population. However, there are also negative spatial determinants on the growth and dynamics of co-operatives. These include co-ops density, firm’s density, male activity, Business turnover, population growth, Higher education, primary education, and urbanization.

The paper provides theoretical and empirical analysis on the choice problem of individuals' self-employment entry. With more focus on social entrepreneurship, the authors attempt to answer the question of how self-employment entry is different for social and conventional entrepreneurship. Drawing on the national employment survey, the empirical analysis and methodology approach allows the employment status preferences between cooperatives self-employment, independent self-employment, and employer self-employment. For the comparative analysis purpose, the probability of choosing paid job employment is also addressed. The empirical results indicate that the main positive determinants of social entrepreneurship entry are the risk tolerance, basic education, secondary education, and the attractiveness of rural areas. The results reveal also evidences of weak entrepreneurial culture in the Moroccan context. By comparison to conventional entrepreneurship, the empirical section contains additional information. The paper moves policymakers close to individuals' determinants and contributes to the socioeconomic incentive for social entrepreneurship.

The paper discusses the government policy that encourages the emergence of co-operatives and analyzes the co-operatives in light of their growth in number. It establishes a static equilibrium and highlights the co-operatives’ adjustment process (dynamic equilibrium). The methodology/approach consists of the development of a theoretical model, using the Nash equilibrium for the co-operative market, and the determination of a static equilibrium. It presents the data which includes variable measurements for the adjustment process for agricultural, artisanal, and fishery co-operatives in order to analyze the stochastic process of entry-and-exit flow of co-operatives. Accordingly, the paper estimates the co-operatives’ growth index speed of adjustment (SOA) as a function of the mean-reversion Ornstein–Uhlenbeck (OU) process. The theoretical results indicate that co-operatives’ earnings depend on the number of co-operatives, market-demand, and the capacity constraint. They also show that the margin for new entrants is a dynamic gap that especially depends on demand, capacity constraint and the profits. The empirical results indicate that co-operatives growth-index process is significantly mean reverting for all sectors, and the speed of adjustment for artisanal co-operatives is significantly higher than for those in agriculture and the fisheries.

The aim of this paper is twofold. First, analyze the relationship between inequality, growth and poverty. Second, study the effectiveness of the redistributive system in Morocco through a comparison between primary distribution of income by wages and secondary distribution by transfers. Our results show that growth is not pro-poor and can only reduce poverty if inequality does not increase. This situation is aggravated by non-progressive state transfers, which increase the inequalities in the majority of Moroccan regions. On the other hand, the increase in wages seems to have the opposite effect on inequality.

Purpose This paper aims to provide a theoretical conception that establishes growth rate dynamics for co-operatives and studies Moroccan co-operatives’ start-ups and closures, by analyzing the co-operatives’ growth rate speed of adjustment (SOA). Design/methodology/approach This paper documents the basic patterns of entry and exit flow for agricultural, artisanal, housing and fishery co-operatives; highlights, with econometric tests, whether co-operatives’ growth rate is mean reverting or a unit root random walk; and estimates the growth rate adjustment speed, using a quadratic interval reverting model to capture both the upward and downward speeds of adjustment. Findings The empirical results indicate that co-operatives’ growth rate is significantly mean reverting for all sectors. Also, it concludes that the upward and downward adjustment speeds are significantly different within and between sectors, with negative indicator for artisanal co-operatives. The paper discusses these results, which are of interest to academics and policymakers. Research limitations/implications The study does not investigate the causes of the growth rate SOA. Further, in-depth work with the results of this study would help scholars and policymakers to get close to the accurate research questions that characterize the mean reverting and affects the adjustment processes for Moroccan co-operatives. Practical implications The suggested model – with upward and downward adjustment speeds– could be valuable for policymakers’ strategies on co-operatives’ emergence. Social implications The paper moves policymakers closer to social work and socio-economic trends to explain the empirical regularities of co-operatives’ dynamics. The model could be of value to avoid a volatile rate of entries and exits, to ensure continuity, to avoid fast failure of co-operative memberships and then to achieve the social inclusion. Originality/value The paper provides empirical evidence and results for co-operatives’ start-ups and closures adjustment speed and determines the conditions in which government policy must be clarified and specified. To the best of the authors’ knowledge, this paper is the first empirical analysis for the co-operatives’ SOA over entry and exit dynamics.

Although significant progress had been made in Morocco, the inter-regional inequalities persist. The aim of this paper is to analyse this spatial inequality and convergence phenomenon in Morocco, using regional data between 2000 and 2007. Thus, relying on methods of spatial data analysis and taken from theoretical and empirical contributions, this paper analyses the role of the sectorial externalities and spatial spillovers in growth. Next, we tested the existence of a convergence process and the conditions for its improvement. The results showed the existence of a growth convergence process in value added and productivity but not in employment. On the other hand, the variables of human capital and infrastructure can significantly reduce regional inequality. Thus, we conclude that the conventional policies based solely on the infrastructure development or education are not sufficient. A more comprehensive approach that integrates these two axes and encourages business development and knowledge transfer is needed. DOI: 10.5901/mjss.2017.v8n2p227

This paper examines how the taxation (tax revenue) affects the economic growth in Morocco relying to the endogenous growth model of Barro (1990). After recalculating a new series of public capital and private capital and based on simultaneous equations model, one production function type Cobb Douglas with 3 factors (public capital, private capital and employment) has been estimated with data covering the period 1980-2015. The idea is to measure the effect of taxation on economic growth through its impact on public capital. The results find that the relationship between the two variables is positive. The householders can finance the public capital by taxes. And the public capital improves the economic growth.

Dans cet article on est arrivé à décomposer la mesure de risque de manière similaire à ce qui est en place au niveau de l'attribution de performance. Donc, non seulement la performance globale pourrait être comparée au risque global, mais chaque contribution à la performance pourrait être appréciée au regard de la contribution au risque associée. Cette analyse plus fine et plus complète pourrait favoriser des choix de gestion plus avertis et donc potentiellement différents voir meilleurs. L'objectif semble avoir été atteint dans la mesure où une méthodologie d'attribution de risque sur terme d'attribution de performance nous a permis d'expliquer le risque global du portefeuille ,en plus, d'effectuer une analyse critique du processus de gestion au sein d'une société. Mots-clés : Attribution de risque et de performance, modèle de Brinson, gestion du portefeuille, Tracking Error, VaR…. Classification JEL: G11, G12,G14,G20. Abstract In this paper, we arrived to decompose the risk measure similarly to what is in place at the performance attribution. So not only the overall performance could be compared to the overall risk, but every contribution to the performance could be assessed against the contribution to the risk associated. This thinner and fuller analysis could foster more informed management choices and potentially different view best.The aim seems to have been reached to the extent that a methodology on risk-term allocation of performance attribution enabled us to explain the overall portfolio risk, in addition, to make a critical analysis of the management process within a society.