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Flexibilité du dirham

Author

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  • Nicolas Moumni

    (CRIISEA - Centre de Recherche sur les Institutions, l'Industrie et les Systèmes Économiques d'Amiens - UR UPJV 3908 - UPJV - Université de Picardie Jules Verne)

Abstract

The growing integration of the Moroccan economy into the global market and the monetarist theoretical framework has been key elements in the justification of the transition of the Moroccan Dirham's exchange rate regime towards flexibility in 2018 This change aims at a determination of the equilibrium exchange rate by market mechanisms in place of the price mechanism administered by Bank Al-Maghrib and a gain of independence in monetary policy We show in this work how the state of the financial markets as well as the other economic and institutional specificities do not allow Morocco to bear the risks related to the flexibility of its exchange rate regime An intermediate regime would probably be more suitable.

Suggested Citation

  • Nicolas Moumni, 2019. "Flexibilité du dirham," Post-Print hal-04090793, HAL.
    • Handle: RePEc:hal:journl:hal-04090793
    Note: View the original document on HAL open archive server: https://u-picardie.hal.science/hal-04090793
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