World Bank2012-06-052012-06-052006978-0-8213-6796-4https://hdl.handle.net/10986/7114This 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.en-USCC BY 3.0 IGOACCELERATING GROWTHACCOUNTING MODELSADJUSTED INCOMEADJUSTMENT POLICYAGGREGATE LEVELAGRICULTURAL SECTORAGRICULTUREANNUAL GROWTHANTI-EXPORT BIASAVERAGE ANNUAL GROWTHAVERAGE TARIFFSBANKSBASE YEARBENCHMARKCAPITA INCOME GROWTHCAPITAL FORMATIONCAPITAL-INTENSIVE INDUSTRIESCDCOMPARATOR COUNTRIESCOMPETITIVE PRESSURESCOMPETITIVENESSCONSOLIDATIONCONSUMER PRICE INDEXCONSUMER PRICESCONVERGENCECOUNTRY REGRESSIONSCOUNTRY RISKCROSS-COUNTRY REGRESSIONSCUSTOMSDEBTDECISION TREEDEMOCRATIC INSTITUTIONSDEVELOPING COUNTRIESDEVELOPING COUNTRYDEVELOPMENT INDICATORSDEVELOPMENT STRATEGYDOMESTIC DEMANDDOMESTIC MARKETECONOMIC ACTIVITYECONOMIC CONVERGENCEECONOMIC COOPERATIONECONOMIC GROWTHECONOMIC OPPORTUNITIESECONOMIC PERFORMANCEECONOMIC RESEARCHECONOMIC STABILITYECONOMIC THEORYECONOMIC TRENDSEMERGING MARKETSENDOGENOUS GROWTHEXCESS LIQUIDITYEXCHANGE RATE POLICYEXCHANGE RATE REGIMEEXPORT DIVERSIFICATIONEXPORT EARNINGSEXPORT GROWTHEXPORT PERFORMANCEEXPORT SECTOREXPORTSEXTERNAL CONDITIONSEXTERNAL DEBTEXTERNAL SHOCKSEXTERNALITIESFACTORS OF PRODUCTIONFINANCIAL SECTORFINANCIAL SYSTEMFOREIGN DIRECT INVESTMENTFOREIGN OWNERSHIPFREE TRADEFREE TRADE AGREEMENTFREE TRADE AGREEMENTSFREE TRADE ZONEGDP PER CAPITAGEOGRAPHIC PROXIMITYGROSS DOMESTIC PRODUCTGROSS NATIONAL SAVINGSGROWTHGROWTH ACCOUNTINGGROWTH MODELSGROWTH PERFORMANCEGROWTH RATEGROWTH RATESGROWTH STRATEGIESHIGH GROWTHHIGH VOLATILITYHUMAN CAPITALHUMAN DEVELOPMENTIMPORT-SUBSTITUTION INDUSTRIALIZATIONINCOME GROWTHINCOME PER CAPITAINCREASEINDUSTRIAL SECTORINDUSTRIALIZATIONINFLATIONINSURANCEINTELLECTUAL PROPERTYINTELLECTUAL PROPERTY RIGHTSINTERNAL IMBALANCESINTERNATIONAL MARKETSINTERNATIONAL RESERVESINTERNATIONAL STANDARDSINTERNATIONAL TRADEINVESTMENT CLIMATEINVESTMENT RATESKNOWLEDGE CAPITALKNOWLEDGE ECONOMYKNOWLEDGE SPILLOVERLABOR COSTSLABOR FORCELABOR FORCE GROWTHLABOR MARKETLABOR MARKETSLABOR PRODUCTIVITYLEGAL STATUSLIQUIDITYLIVING STANDARDSLONG-TERM GROWTHMACROECONOMIC ADJUSTMENTMACROECONOMIC ENVIRONMENTMACROECONOMIC INSTABILITYMACROECONOMIC POLICIESMARGINAL TAXMARGINAL TAX RATESMARKET FAILURESMARKET FORCESMARKET SHAREMEDIUM TERMMEMBER COUNTRIESMIDDLE EASTMIGRATIONMONETARY POLICYNATIONAL ACCOUNTSNATURAL RESOURCESNEIGHBORING COUNTRIESNEOCLASSICAL GROWTH MODELNONTARIFF BARRIERSOIL PRICESPER CAPITA INCOMEPER CAPITA INCOMESPOLICY PROPOSALSPOVERTY RATESPOVERTY REDUCTIONPREFERENTIAL TRADEPREFERENTIAL TRADE ARRANGEMENTSPRICE STABILITYPRIVATE INVESTMENTPRIVATE SECTORPRIVATIZATIONPRODUCTION COSTSPRODUCTIVITYPRODUCTIVITY GROWTHPROMOTION POLICIESPROPERTY RIGHTSPROTECTIONISMPUBLIC DEBTPUBLIC SECTORPURCHASING POWERRAPID GROWTHREAL EXCHANGE RATEREAL GDPREAL WAGEREAL WAGE RATESREGIONAL MARKETRELATIVE POSITIONRELATIVE PRICESSECTORAL COMPOSITIONSKILLED WORKERSSOCIAL STABILITYSTABILIZATION POLICIESSTANDARD DEVIATIONSTATE INTERVENTIONSTRUCTURAL CHANGESSTRUCTURAL REFORMSSUBSIDIARYSUBSIDIARY RIGHTSSUSTAINABLE GROWTHTARIFF REDUCTIONSTAX REVENUESTAXATIONTECHNOLOGICAL CHANGETECHNOLOGICAL CHANGESTECHNOLOGICAL PROGRESSTELECOMMUNICATIONSTFPTOTAL FACTOR PRODUCTIVITYTRADE AGREEMENTSTRADE DEFICITTRADE LIBERALIZATIONTRADE REGIMEUNDERESTIMATESUNEMPLOYMENTUNEMPLOYMENT RATEURBANIZATIONVALUE-ADDED TAXWAGESWORLD TRADEWORLD TRADE ORGANIZATIONWTOWorld Bank10.1596/978-0-8213-6796-4