Vulnerability of Southern Mediterranean Countries to Exogenous Shocks: Structural VAR Approach

Journal Title: Asian Economic and Financial Review - Year 2011, Vol 1, Issue 4

Abstract

All statistics and empirical studies relating to the Mediterranean region show the irregular fluctuation of the main macroeconomic aggregates. It is appear that the vulnerability of these countries is largely the result of different range of shocks. Regarding their economic structures, the prospects of growth for Southern Mediterranean countries are largely driven by changes in their external environment. Among the external shocks affecting these countries, we include oil price shocks, terms of trade, the trend of global growth, turmoil in the international financial system, and the crises of international policies (2nd and 3rd war Gulf, event of September 11 ...) and obviously the current global financial crisis. The interest of this work is to determine the various domestic and external shocks affecting the level of economic activity and prices and to identify, later, the main exogenous sources of economic fluctuations in the Southern Mediterranean countries. The sources of fluctuations are determined using a Structural VAR model.

Authors and Affiliations

Sarra BEN SLIMANE| Najran University, DEFI Université de la Méditerranée Aix Marseille II, Moez BEN TAHAR| CEMAFI, Université de Nice Sophia Antipolis and LEFA, IHEC Carthage, Zied ZSSID| CEMAFI, Université de Nice Sophia

Keywords

Related Articles

GLOBALIZATION AND UNEMPLOYMENT IN PAKISTAN

This study analyzes the impact of globalization on unemployment in Pakistan, using annual data for the period 1980 to 2013. Using the ARDL econometric framework, we find that the economic, political and social aspects of...

DETERMINATION OF THE IMPACT OF WORKING CAPITAL MANAGEMENT ON PROFITABILITY: AN EMPIRICAL STUDY FROM THE CEMENT SECTOR IN PAKISTAN

This paper examines the impact that the running assets management on the profitability of Pakistan cement sector. Moreover, the study outlines the main factors that basically determine the working capital in the financia...

ACCOUNTING CLARITY THROUGH THE PROPOSED TWO COLUMN PROFIT AND LOSS ACCOUNT; A COMPARATIVE STUDY OF ACCOUNTANTS AND INVESTORS’ PERCEPTIONS

This paper titled ‘accounting clarity through the proposed two column profit and loss account; a comparative study of accountants and investors’ perceptions, investigates the Relevance, Understanding, Reliability, Import...

TRADE-GROWTH NEXUS IN DEVELOPING AND DEVELOPED COUNTRIES: AN APPLICATION OF EXTREME BOUNDS ANALYSIS

In this study, we investigated the relationship between foreign trade and economic growth in the developing and developed countries by using extreme bounds analysis approach. For this we used unbalanced panel data of 103...

IS THE EXCHANGE RATE OF BANGLADESH MEAN REVERTING? A PANEL UNIT ROOT APPROACH

The study examines the relationship between market liquidity and economic growth in Nigeria over the period of 1987-2012 using time series data. The starting point of our analysis was to check for the time series propert...

Download PDF file
  • EP ID EP1732
  • DOI -
  • Views 501
  • Downloads 35

How To Cite

Sarra BEN SLIMANE, Moez BEN TAHAR, Zied ZSSID (2011). Vulnerability of Southern Mediterranean Countries to Exogenous Shocks: Structural VAR Approach. Asian Economic and Financial Review, 1(4), 254-275. https://europub.co.uk/articles/-A-1732