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
- EP ID EP1732
- DOI -
- Views 547
- Downloads 35
PRINCIPLES OF VENTURE AND BUSINESS-ANGEL INVESTMENTS
Positive state policies in the developed countries of the world are directed towards fundamental transformation and development of innovative economical sector. One of the most principle ways for solving tasks of priorit...
THE EFFECT OF TRADE, SPECIALIZATION AND FINANCIAL INTEGRATION ON BUSINESS CYCLES SYNCHRONIZATION IN SOME MEDITERRANEAN COUNTRIES
The aim of this paper is to study if bilateral trade, similarity of specialization and capital flows between some Mediterranean countries (Egypt, Morocco, Tunisia and Turkey) and their main European partners (Germany, Fr...
THE IMPACT OF BIRD FLU ON THE ECONOMY: CGE MODEL APPROACH (COMPUTABLE GENERAL EQUILIBRIUM MODEL)
The negative impact of the outbreak of bird flu on economic sectors in the partial and macro research will be analyzed using CGE models (Computable General Equilibrium). The result of the simulation studies indicate that...
THE DETERMINANTS OF FDI IN TUNISIA: AN EMPIRICAL STUDY THROUGH A GRAVITY MODEL
In order to analyze the determinants of FDI, several empirical studies have been done by applying different econometric models. The purpose of this article is to identify the determinants of FDI in Tunisia through a grav...
FACTORS INFLUENCING SUCCESSFUL BRAND EXTENSION INTO RELATED AND UNRELATED PRODUCT CATEGORIES
This study describes the study that analyzes the factors influencing successful brand extension. Specifically the study analyze the impact of similarity, brand reputation, perceived risk and consumer innovativeness on th...