The impact of institutional quality on Morocco's macroeconomic resilience to external shocks


  • NABIL EL HAMIDI Docteur en économie de la FSJES Cadi Ayyad -Marrakech
  • Youssef KARBOUB Master en économie de la FSJES Cadi Ayyad -Marrakech



Economic resilience; Macroeconomic performance; External shocks; Institutional quality; Morocco.


This paper seeks to examine the effects of both institutional quality and external shocks on macroeconomic performances and the resilience of the Moroccan economy through the use of a VAR model. In order to investigate how these various shocks could influence the Moroccan economy, we have used GDP and inflation as proxies. We found that oil prices are the most important factor in the variance of the forecast errors of GDP and inflation. However, we found the existence of a favorable institutional environment for absorbing exogenous shocks to the Moroccan economy which contributes to its resilience. Therefore, we were able to show that Quality of institutions plays an important role in the stabilization of inflation and GDP in response to external shocks in the Moroccan context.




How to Cite

EL HAMIDI , N., & KARBOUB , Y. (2023). The impact of institutional quality on Morocco’s macroeconomic resilience to external shocks. International Journal of Economic Studies and Management (IJESM), 3(3), 766–779.