Impact of Global Value Chains on the Performance of Moroccan Exports: Sector Analysis with Economic Dependencies
DOI:
https://doi.org/10.22452/IJIE.vol16no3.4Keywords:
Global value chains, Economics dependencies, Panel unit root, Cointegration analysis, Moroccan exportsAbstract
Abstract: The last few decades have been marked by profound changes in international
trade, which is increasingly organised around global value chains. Theoretical and
empirical research shows the benefits associated with increasing participation in global
value chains (GVCs) for both developed and developing countries. However, empirical
studies on the effects of backward and forward participation in GVCs for the specific case
of a country remain limited. This article seeks to examine whether Morocco’s backward
and forward participation in GVCs improves the performance of its exports over the
period of 1995 to 2018 using different cointegration techniques in panel data. Our
empirical results show that forward and backward participation positively impact exports
and domestic value added in Moroccan exports. They also indicate that domestic and
foreign service inputs contribute positively to this performance. Based on the obtained
results, we propose some recommendations for policymakers.
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