We examine aid-induced Dutch Disease - after controlling for the effects of remittances and FDI flows - in the context of two North African countries, Morocco and Tunisia. We do so by performing a multivariate time series analysis of aggregated annual data over the period 1980-2009. Aid causes...

Using a vector error-correction model, I explore the short-run dynamics and long-run linkages between financial reform and the mobilization of domestic saving in Morocco. In the short run, financial depth (volume of intermediation) is shown to have a positive influence on private saving, while...

This paper uses the Granger-causality technique to test Friedman's hypothesis that variability in monetary growth causes changes in velocity. Two models are constructed and tested. The first model uses aggregate money without distinction between the anticipated and unanticipated money growth....