Focus on the Impact of the Knowledge Economy on Economic Growth in the Moroccan Context: Evidence from the Novel Dynamic ARDL Simulation (DYNARDL) and Kernel-Based Regularized Least Squares (KRLS)

The question of the sustainability of growth has long been the subject of much debate among economists. However, since the emergence of endogenous growth theories, this confusion about sustainability seems to have been resolved, thanks to the integration of knowledge into economic models. Since then, the concept of the knowledge economy and its role in the sustainability of growth has been discussed. In this paper, we attempt to verify the sustainability of Moroccan economic growth by analyzing the determinants of the knowledge economy and their impact on growth in the short and long term. To this end, we adopt an empirical study based on the novel dynamic simulation ARDL approach and the KRLS method. The results obtained using both methods generally indicate positive effects of the knowledge economy on economic growth in the short term. In the long term, however, gross domestic product per capita stabilizes and the rate of economic growth tends to cancel out.