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Spillovers From Europe Into Morocco and Tunisia


  • Daniel Florea
  • Joël Toujas-Bernate
  • Reinout De Bock


This paper examines the economic and financial linkages between Morocco and Tunisia and their European partners. Using structural vector autoregressions, we find that growth shocks in European partner countries generate significant responses on growth in Morocco and Tunisia. For Tunisia, exports and, to a much lesser extent, tourism appear to be the major transmission channels. In Morocco, exports, remittances and tourism play relatively equal roles. An analysis with sectoral data supports these results.

Suggested Citation

  • Daniel Florea & Joël Toujas-Bernate & Reinout De Bock, 2010. "Spillovers From Europe Into Morocco and Tunisia," IMF Working Papers 10/238, International Monetary Fund.
  • Handle: RePEc:imf:imfwpa:10/238

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    Cited by:

    1. Knarik Ayvazyan & Teresa Daban Sanchez, 2015. "Spillovers from Global and Regional Shocks to Armenia," IMF Working Papers 15/241, International Monetary Fund.

    More about this item


    Business cycles; Spillovers; Morocco; Tunisia; Trade; Transmission channels; growth rates; gdp growth; partner countries; real gdp; growth rate; Model Evaluation and Selection; International Policy Coordination and Transmission; Economic Growth of Open Economies;

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