دول اتحاد المغرب العربي و الطريق نحو التكامل

Abstract EN

The objective of this research paper is to measure and assess the degree of economic integration among the three Arab Maghreb countries (Algeria, Tunisia and morocco).

To achieve this goal, we examine the long term relationship among their macro economies (as measured by real gross domestic product RGDP), their financial linkages (as measured by money stocks M2 and foreign direct investment FDI), and their monetary policies (as measured by reel exchange rate RER and consumer price inflation INF) using co integration technique and annual data over the period from 1980-2011.

Our empirical results suggest the existence of long-term relationship links the three AMU macro economies, financial and monetary linkages which is a crucial factor for the success of integration in AMU led by these three countries.

Therefore, the failure of these countries to achieve a regional integration is likely caused by socio-political factors.