Fostering Higher Growth and Employment in the Kingdom of Morocco

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World Bank Publications, Jan 1, 2006 - Economic policy - 107 pages
This book identifies the binding constraints to growth of Morocco. It applies an innovative procedure known as "growth diagnostic" and has a central finding. The Moroccan economy suffers from a too slow process of structural transformation for achieving higher growth, especially for its exports that face unfavorable external shocks arising from competitor countries in the main markets for Moroccan exports. This process of so-called "productive diversification" requires that Morocco enhance its competitiveness.
 

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Page 90 - Close monitoring (and coordination) of the promotion activities by a "principal" who has internalized the agenda of economic restructuring and shoulders the main responsibility for it, is essential. This "principal" could be the prime minister himself and/or whoever has the ear of His Majesty the King.
Page 90 - Just as there is no single blueprint for undertaking promotion, the needs and circumstances of productive discovery are likely to change over time.
Page 90 - The council and executing agencies carrying out promotion must maintain channels of communication with the private sector. Autonomy and insulation do not mean that bureaucrats can maintain arm's-length relationships from entrepreneurs and investors.
Page 76 - Stringent local content rules, creating support industries, protection of local suppliers, sub-contracting promotion FDI kept out unless necessary for technology access or exports, joint ventures and licensing encouraged Ambitious plans for R&D in advanced industry, heavy investment in technology infrastructure.
Page 1 - What makes some countries rich and others poor? Economists have asked this question since the days of Adam Smith. Yet, after more than two hundred years, the mystery of economic growth has not been solved.
Page 89 - This facilitates structuring the support as a corrective to specific market failures instead of as generic industrial policies.
Page 83 - ... deterioration, in the range of 25 percent, in its terms of trade during the first half of the 1980s, Tunisia has not been affected by significant terms of trade shocks. The fact that Tunisia's energy trade has been broadly balanced during the last few years helped to protect it from oil price shocks.15 The terms of trade remained almost unchanged during the first half of the 1990s, and then deteriorated gradually by about 8 percent during the second half.
Page 32 - Existing enterprises: income tax relief equal to the amount of the increase in their tax liability as compared to the higher tax liability of the previous 2 years Until 2011,100% tax credit for investment of more than HUF100 billion (HUF 3 billion in less developed regions).
Page 38 - It is equal to the uniform tariff, which, if imposed at the border, would have the same effect on aggregate imports as the current structure of trade measures.
Page ix - Free Trade Zone General Agreement on Tariffs and Trade Gross domestic product...

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