International Journal of Accounting, Finance, Auditing, Management and Economics <p>IJAFAME is a bi-monthly (one issue every two months) peer-reviewed scientific journal (Blind peer review), dedicated to research in finance, accounting, auditing, management and economics. Its objective is to promote research in economics and management while publishing original articles or articles adapted to a given context. It also provides a space for exchange between professionals and academics in order to find new research ideas and encourages theoretical and practical reflections developed according to different paradigms (positivist, constructivist, interpretativist, etc.).</p> <p>Paper's are published in english or frensh</p> en-US <div align="justify"> <p>&nbsp;</p> </div> (Prof. Dr Zakaria EZ-ZARZARI) (Secretary of Journal) Wed, 03 Jul 2024 23:26:40 +0000 OJS 60 Ricardian neutrality: A limit to the analysis of the debt sustainability of CEMAC countries <p>The study examines the distribution of overindebtedness across macroeconomic aggregates by empirically verifying the validity or otherwise of Ricardian equivalence as a main limitation to the analysis of debt sustainability within the panel of Economic and Monetary Community countries. of Central Africa chosen for the period 2000-2023. From the ARDL approach, parameterized as an error correction model (ECM), the results indicate that the level of private investment remains low in the face of episodes of long-term debt crisis, with insignificant effects of tax policy. However, private investment constitutes a channel of transmission of over-indebtedness and rejects the principle of Ricardian equivalence (PER), which favors the analysis of debt sustainability (DSA). The results estimated by Ordinary Least Squares (OLS) and Generalized Least Squares (GLM) reveal that consumption is also a channel of transmission of over-indebtedness. However, the tax base plays an important role in this transmission and validates the PER, which tends to limit the DSA of countries in the sub-region. Overall, these results prove the existence of expectations of economic agents in the face of an increase in taxes intended to repay the loan to the extent that these agents are victims or not of the fiscal illusion according to very specific transmission channels. over-indebtedness. These results are robust to a variety of alternative specifications.</p> <p><strong>Keywords:</strong> Ricardian equivalence, Overindebtedness, Fiscal policy, ARDL, MCG.</p> <p><strong>Classification JEL</strong>&nbsp;: B22, C33, E13, F34,</p> <p><strong>Paper type</strong>: Empirical Research.</p> Pierre Gaetant ANGO NGUEMA, Sydney Leslie DIBOUNDA SIMA Copyright (c) 2024 Pierre Gaetant ANGO NGUEMA, Sydney Leslie DIBOUNDA SIMA Thu, 04 Jul 2024 00:00:00 +0000 Role of the information content of the Moroccan treasury securities real yield curve in forecasting the future economic situation in Morocco <p>This study aims to investigate the role of the slope of the real interest rate curve of treasury securities in predicting the future economic situation in Morocco. Economic theory suggests that the slope of rates can be explained by three factors: the effects of monetary policy, expectations of monetary policy, and the intertemporal smoothing of consumption. Our theoretical model focuses on the latter explanation, suggesting that households aim to maintain a constant level of consumption, regardless of fluctuations in interest rates and the economic situation. To examine this relationship, we constructed a regression model that includes several lagged financial and/or monetary explanatory variables, such as real interest rates. This analysis utilizes quarterly data from 2007 to 2023. Our results underscore the importance of the information embedded in the structure of real interest rates, particularly the spread of real interest rates, for analyzing and forecasting future economic growth in Morocco.</p> <p>&nbsp;</p> <p><strong>Keywords:</strong> Moroccan yield curve, spread, economic forecast</p> <p><strong>JEL Codes :</strong> C50, E43, E52, E58.</p> <p><strong>Paper type: </strong>Empirical research.</p> Mohammed Hassan ALAOUI, Outmane Noufail SOUSSI Copyright (c) 2024 Mohammed Hassan ALAOUI, Outmane Noufail SOUSSI Thu, 04 Jul 2024 00:00:00 +0000 Public investment expenditure and domestic private investment in Cameroon: Autoregressive Vector Analysis <p>This work attempts to study the effect of public investment expenditure on domestic private investment in Cameroon during the period 1982-2021. The central question of this study concerns the relationships that exist between public investment expenditure and domestic private investment in Cameroon. To achieve our objectives, we opted for a vector autoregressive (VAR) analysis on time series data to capture the simultaneous effects of our study variables on each of the chosen variables at the national level. The empirical results from our VAR model show that public investment encourages private domestic investment in Cameroon, although it presents an insignificant inverse effect in other periods when considering the lag criteria specified by Akiake. Thus, public investment expenditure has a positive effect on private investment in Cameroon, indicating a crowding-in effect between these aggregates, although depending on the lag in the model, a crowding-out effect is also observed. Based on this finding, we recommended as a complementary development policy to the government and the private sector that the Cameroonian state should focus on the development and maintenance of infrastructure, education, industrialization, good governance, and security at the expense of superfluous political expenditures without economic evaluation.</p> <p>&nbsp;</p> <p><strong>Keywords: </strong>Public expenditure, public investment, private investment, Vector Autoregressive Analysis, crowding-in effect, crowding-out effect.</p> <p><strong>Classification JEL</strong>: E22-H52-H54-R42</p> <p><strong>Paper type</strong>: Empirical Research</p> Mana ABDOULKARIM, Donatien EZE EZE Copyright (c) 2024 Mana ABDOULKARIM, Donatien EZE EZE Thu, 04 Jul 2024 00:00:00 +0000 Wellbeing at work and managerial implications: A comprehensive literature review <p>The Moroccan company faces major challenges, as the dynamic environment drives the company to adjust its strategy, its organization and to focus on its human resources. This pursuit of performance is not without consequences on the employee’s wellbeing, who are increasingly suffering from stress, burnout and other illnesses, thereby producing terrible health consequences. According to the national study of (the Moroccan Observatory of Happiness, 2017), 30% of respondents claim to have experienced stress in the workplace. As a result, the national and international community is aware of the interest of the subject and the need to undertake concrete actions to contain psychosocial risks, as well as to make this variable a lever of performance (Gallup ,2018). On the other hand, wellbeing at work is a complex variable, on the one hand due to the different theoretical underpinnings that frame it and on the other, because of the existence of several dimensions that make up it. Moreover, this concept is often associated with related concepts such as quality of life (Bowling, 1991), satisfaction (Kiziah, 2003), affects (Watson and al., 1988), mental health (massé and al, 1998) and, finally, psychological health at work. (Achille, 2003). Consequently, the aim of this article is to present the different approaches to wellbeing at work, in order to identify the concept in relation to the related concepts and to review the different scales of measurement and models of wellbeing at work necessary for its conceptualization, while taking backwards to present critical analyses as to their uses. Finally, it is wise to focus on the evolving concept and practices of workplace wellbeing in Morocco as well as to present its managerial implications for the dynamics of Moroccan companies in line with the challenges of the current environment.</p> <p><br><strong>Keywords: </strong>Wellbeing at work, burnout, stress, scale of measurement, performance.</p> <p><strong>Classification JEL:&nbsp; </strong>I31, M10, M12, M14.</p> <p><strong>Paper type: </strong>Theoretical Research.</p> Youssef CHAINANE, Yassine BOUDI Copyright (c) 2024 Youssef CHAINANE, Yassine BOUDI Thu, 04 Jul 2024 00:00:00 +0000 Monitoring and evaluation of development aid: evolution of aid and specificities of the project cycle <p>This article examines the evolution of development aid towards a standardization of monitoring and evaluation (M&amp;E) practices, focusing on the initiatives of the OECD Development Assistance Committee. Through a literature review, including the work of researchers, reports from development aid donors, and statistics from the OECD Development Assistance Committee, we analyze the main trends and dominant practices. The introduction of evaluation criteria in 1991 has become a benchmark in the field. These criteria allow for more measurable and uniform management of development aid. Each intervention modality is equipped with a specific monitoring and evaluation strategy, designed to measure and improve aid effectiveness. Project-based interventions are of predominant importance, the logical framework and project cycle management are methodologies that have revolutionized the planning and evaluation of development aid projects, reflecting an almost unanimous adoption of this approach in specialized literature and observed practices. The evaluation criteria include relevance, effectiveness, efficiency, impact, sustainability, and coherence, each playing an essential role in the evaluation of development aid. The findings of this study show that standardization and methodological rigor are crucial to ensure that development aid achieves its objectives effectively and transparently. Moreover, the use of performance indicators and harmonized reporting systems contributes to better comparability and more accurate evaluation of results. The implementation of feedback mechanisms and the continuous adjustment of practices based on collected data allow for improved interventions and maximized impact. Therefore, a systematic and coherent approach to monitoring and evaluation is indispensable to optimize the effectiveness of development aid.</p> <p>&nbsp;</p> <p><strong>Keywords</strong>: Development aid, Official Development Assistance, Development Aid Project, Monitoring-Evaluation, Logical Framework Approach</p> <p><strong>Classification JEL</strong>: O22</p> <p><strong>Paper type</strong>: Theoretical Research</p> Hamza BIRBIR, Omar HNICHE, Abdelhalim LAKRARSI Copyright (c) 2024 Hamza BIRBIR, Omar HNICHE, Abdelhalim LAKRARSI Thu, 04 Jul 2024 00:00:00 +0000 Human Capital and Income Inequality in Africa: An Empirical Panel Data Study <p>This paper attempts to provide empirical evidence on the contribution of human capital in reducing income inequality for a panel of 15 African countries over the period 1980 -2014. The dynamic panel estimation techniques used to bring out important results. Firstly, the expansion of education in the countries concerned does not seem to have been accompanied by a reduction in income inequalities. Secondly, our results confirm the differential impact of education levels of income inequality. Indeed, while the expansion of secondary education seems to have been positively associated with income inequality, the expansion of primary and tertiary education seems to have reduced inequality, albeit very slightly, within the countries in our sample. Thirdly, our results show that more than the expansion of education, it is rather the reduction of educational inequalities that seems to be the determining factor in reducing income inequalities in the countries concerned. In addition to continuing efforts to expand education, particularly at the primary level, these results suggest the need to improve the quality of education, which in turn will raise its performance and ultimately reduce income inequalities. Similarly, accelerating the process of structural transformation of African economies would, through greater use of skilled labor, increase the yield from higher levels of education and, ultimately, a more egalitarian distribution of income.</p> <p>&nbsp;</p> <p><strong>Keywords: </strong>Educational inequality, education level, income inequality, Africa, GMM system.</p> <p><strong>Classification JEL</strong>: D30, I21, O55</p> <p><strong>Paper type</strong>: Empirical Research</p> Youssef BOURDANE, Abdellatif CHATRI Copyright (c) 2024 Youssef BOURDANE, Abdellatif CHATRI Sun, 07 Jul 2024 23:06:54 +0000 Environmental impact of Benin's general government budget for fiscal year 2024 <p>The State's general budget is a document drawn up by the government and voted by parliament, which forecasts and defines the expenditure and revenue that the State is entitled to incur and collect for the coming year. Benin's budget for fiscal year 2024 was allocated with the aim of continuing to implement the Government Action Program 2021-2026. However, as this action program is perfectly in line with the objectives of sustainable development, it is important to analyze the impact of this budget on environmental components, in order to identify areas where improvements can be made to better take the environment into account. The analysis, based on a mixed approach to data collection (qualitative and quantitative), reveals major challenges both in the budget process and in budget execution. Moreover, although the budget for the 2024 financial year allocates a significant share to capital expenditure for projects linked to the environment, climate change and land use planning, the fact remains that the resources made available by the State budget are not sufficient to drive the long-awaited sustainable socio-economic development. More resources should then be mobilized not only from development partners, but also and above all from the private sector, to support national ambitions in general and the consideration of the environmental dimension in particular in budget planning and execution. Finally, as has been the case since 2019 for gender, it would be useful to produce a note analyzing the environmental sensitivity of the State's general budget.</p> <p>&nbsp;</p> <p><strong>Keywords: </strong>state budget, environmental impact, governance, public policies, sustainable development</p> <p><strong>Classification JEL</strong>&nbsp;: H23, H41, Q51, Q56, Q58</p> <p><strong>Paper type</strong>: Empirical Research</p> Précieux Christian BEHANZIN, Jadix Esther SAINOU, Edouard Prince Nonviho HOUNKPONOU, Lucien AGBANDJI Copyright (c) 2024 Précieux Christian BEHANZIN, Jadix Esther SAINOU, Edouard Prince Nonviho HOUNKPONOU, Lucien AGBANDJI Sun, 07 Jul 2024 23:20:55 +0000 The Impact of E-Learning on the Performance and the Engagement of SME employees in Morocco <p>&nbsp;</p> <p><strong>Abstract&nbsp;: </strong></p> <p>This research examines the impact of e-learning on performance and employee engagement in SMEs in the Moroccan services sector, a key segment of the national economy. Using structural equation modelling, we analysed the relationships between e-learning quality, self-efficacy in using e-learning, employee engagement and job performance. The sample consisted of 200 Moroccan service SMEs, providing a diverse and representative dataset for the study.</p> <p>The conclusions of our study present a nuanced perspective. While we found no support for the hypothesis that the quality of e-learning directly improves employee performance, the significant impact of self-efficacy on engagement and performance highlights the importance of employee confidence in the effective use of e-learning tools</p> <p>&nbsp;</p> <p><strong>Keywords: </strong>e-learning; performance; engagement; SME; structural equations.</p> <p><strong>Classification JEL</strong>&nbsp;: D83&nbsp;; J2&nbsp;; L25&nbsp;; H32&nbsp;; C3</p> <p><strong>Paper type</strong>:&nbsp;Empirical Research</p> Abdellah BAKRIM, Malika AJERAME, Rachid EL BETTIOUI Copyright (c) 2024 Abdellah BAKRIM, Malika AJERAME, Rachid EL BETTIOUI Sun, 07 Jul 2024 23:30:05 +0000 The determinants of financial distress of SMEs in the southern regions of Morocco <p>This article aims to identify and analyze the main determinants of financial distress among SMEs in the southern regions of Morocco. Using structural equation modeling (SEM), we studied the relationships between various factors, such as financial ratios, access to financing, financial management skills, financial innovation, and strategic and judicial interventions, and their impact on the financial performance of SMEs. Data were collected from surveys of 373 SMEs in the regions of Guelmim-Oued Noun, Laâyoune-Sakia El Hamra, and Dakhla-Oued Eddahab. The results show that unfavorable financial ratios increase the risk of financial distress, while access to financing, financial management skills, financial innovation, and strategic and judicial interventions have significant positive effects on the financial performance of SMEs. These findings highlight the importance of improving access to financing and financial management to strengthen the resilience of SMEs.</p> <p>&nbsp;</p> <p><strong>Keywords: </strong>Financial distress, SMEs, access to finance, Structural equation modeling (SEM), Financial management</p> <p><strong>Classification JEL</strong>: E6, B4</p> <p><strong>Paper type</strong>: Empirical Research</p> Ali ABDAIM, Si Mohamed BOUAZIZ Copyright (c) 2024 Ali ABDAIM, Si Mohamed BOUAZIZ Mon, 08 Jul 2024 22:40:47 +0000 Dominant logics and cognitive inflection points: towards a cognitive and dynamic approach to the strong growth of gazelle SMEs <p>The field of business growth, though important for management science researchers, remains relatively modest in its contribution due to the fragmentation of the literature that characterizes it (Davidsson &amp; Delmar, 2000; Davidsson &amp; Wiklund, 2006; El Hakioui &amp; Louitri, 2018). To transcend this fragmentation, this work proposes to explore a cognitive approach to the study of the high growth SMEs in an integrative and dynamic manner. The emphasis is placed on the analysis of the owner-manager’s cognition, as an omnipresent and omnipotent actor, to understand the decision-making process within these firms. This paper highlights the need for in-depth analysis to delineate the capabilities of this approach and determine its potential for the integrative study of SMEs' high growth. The conceptual contribution is based on cognitive science, emphasizing managerial and entrepreneurial cognition, which focuses on the thinking of the manager/entrepreneur and their perception of the action environment. Two key concepts of cognition, dominant logics, and cognitive inflection points, are highlighted in the context of high growth, providing a dynamic and integrative perspective to understand this complex phenomenon.</p> <p>&nbsp;</p> <p>Top of Form</p> <p><strong>Keywords</strong>: High-growth SMEs, Owner-manager, Cognition, Dominant logic, Cognitive inflection point.</p> <p><strong>JEL Classification: </strong>M13</p> <p><strong>Paper type: </strong>Theoretical Research</p> Mohamed EL HAKIOUI Copyright (c) 2024 Mohamed EL HAKIOUI Mon, 08 Jul 2024 22:47:22 +0000 Social innovation, a determining factor in the social and solidarity economy <p>The Social and Solidarity Economy (SSE) is seen as a new field crowned by initiatives that aim for social, environmental and economic development while strengthening the social ties between the various players. By its very nature, the SSE sector is resolutely innovative. It is in the field of SSE that we can speak of social innovation, which makes it possible to improve or solve a social problem from a global perspective (C. Bouchard, 1999).</p> <p>In this paper, we seek to highlight the role that social innovation can play in strengthening the SSE sector and improving its competitiveness. Our problem is as follows: "To what extent can social innovation be a determining factor for the SSE? To answer this question, we will review the literature on the birth and development of the social and solidarity economy. We will also detail and explain the theoretical foundations and principles of the social and solidarity economy, with the aim of highlighting the characteristics that make up this new field and making it a key area for the development of social innovations. We will then show that the social/solidarity-based economy is a prime example of social innovation. And to fully understand the links between the SSE and the SI, we plan to conduct a qualitative study by interviewing professionals, experts and university professors using an interview guide.</p> <p>&nbsp;</p> <p><strong>Keywords:</strong> Social and solidarity economy; Social innovation; Links</p> <p><strong>JEL classification:</strong> O350</p> <p><strong>Type of paper:</strong> empirical research</p> <p>&nbsp;</p> Fatima Zahra YOUSFI, Fatiha CHOUIEKH Copyright (c) 2024 Fatima Zahra YOUSFI, Fatiha CHOUIEKH Mon, 08 Jul 2024 23:00:01 +0000 Strategy for economic recovery of household solid waste from Conakry in Guinea, West Africa <p>The objective of this research concerns the evaluation of the economic impacts of strategies for the recovery of household solid waste in the city of Conakry based on tangible and demonstrated elements. To achieve this, four waste management scenarios served as a basis for the analyzes carried out. Collection was provided by the Albayrack company and transported to our work location. Careful manual sorting is carried out to characterize the waste.</p> <p>The analysis of the physico-chemical parameters (density, electrical conductivity, average pH, moisture content of the fermentable material, lower calorific value PCI, carbon/nitrogen ratio) was carried out on samples obtained in applying the quartering method.</p> <p>This characterization of household solid waste has made it possible to understand that the MSW of the city of Conakry are composed of: 44% organic waste, 20% plastic, 4% glass, 8% paper / cardboard, 5% metal, 5% wood and 14% other.</p> <p>According to the results of the characterization of the DMA (sorting by category presented in figure 4) acquired from this study, we note that the DMA of the city of Conakry present a diversity of materials, the majority of which can be recovered or reused and by consequently the waste of resources decreases and pushes the development of the economy. Thus, this study allowed us to divide into 4 groups the MSW capable of being recovered or recycled and are presented as follows: Waste recoverable by composting, methanization, recycling and storable. These recovery strategies would reduce household solid waste dumps by 80% in the City of Conakry (Guinea).</p> <p>&nbsp;</p> <p><strong>Key words:</strong> Strategies, household waste, characterization, economic recovery and production cost.</p> <p><strong>JEL Classification:</strong> Q42, Q53</p> <p><strong>Type of paper:</strong> Theoretical Research</p> <p>&nbsp;</p> Alain GBILIMOU, Marie Rose BANGOURA, Facinet CONTE Copyright (c) 2024 Alain GBILIMOU, Marie Rose BANGOURA, Facinet CONTE Mon, 08 Jul 2024 23:14:23 +0000 Territorial Economic Dynamics and the Influence of Logistics Activities: An Exhaustive Review of Trends and Outlook <p>Logistics activities have a major role to contribute to regional development and local economic growth. This literature review examines the relationship between logistics activities and economic development, focusing on the economic and spatial dimensions. To do this, we begin by considering logistics as a factor of economic transformation in order to understand how logistics activities can influence territorial economic dynamic. Particular attention will be paid to The Foundations of Territorial Attractiveness and the Impacts of Logistics Investment on the Local Economy. The review will follow a systematic methodology, including an exhaustive search of academic databases. It will focus on the relationships between logistics activities, spatial planning and local economic development, exploring both economic and spatial dimensions for a holistic view. Major themes include the impact of logistics infrastructures, synergies with local economic development, and the influence of economic and spatial dimensions. This review will help to consolidate understanding of the links between logistics infrastructure and local economic development.</p> <p>&nbsp;</p> <p><strong>Key words : </strong>Economic development, Territorial Economic dynamics, Territorial attractiveness,</p> <p><strong>JEL Classification : </strong>O1- R11- O18</p> <p><strong>Paper type</strong> : Theoretical research</p> Ibrahim MAJJAJ, Naouar ANISSER Copyright (c) 2024 Ibrahim MAJJAJ, Naouar ANISSER Mon, 08 Jul 2024 23:21:00 +0000 The Fiscal Dimension of the Welfare State: The Role of Taxation in Wealth Redistribution <p>Taxation has emerged as a decisive force in the redistribution of wealth within contemporary societies, acting as a strategic instrument for mitigating inequalities.</p> <p>Progressive income taxes, advocated by Thomas Piketty (2013), offer a targeted approach to reducing disparities. By levying a higher percentage of higher incomes, these taxes aim to restore financial equilibrium. At the same time, wealth taxes, in line with Piketty's vision, target the concentration of wealth within a narrow elite. Social transfers, supported by Joseph Stiglitz (2012), are positioned as a vital lever. These programs, financed by tax revenues, help to reduce poverty and improve the standard of living of disadvantaged populations, thus realizing the vision of equal opportunity.</p> <p>However, some nuances emerge from the warnings of Dani Rodrik (2011). This Turkish economist warns of the risks of excessive taxation on capital, highlighting the potential disincentives to investment and economic growth.</p> <p>Our article aims to highlight the significant impact of taxation on the distribution of wealth, within the broader framework of the social state by employing an in-depth conceptual review to synthesize and analyze relevant research from scholars. By orienting tax policies towards progressive models, we seek to strengthen social justice and contribute to inclusive economic growth. Our aim is to explore balanced approaches that maximize redistributive benefits while stimulating investment. This article aspires to catalyze constructive debates to guide decision-makers towards informed fiscal choices, shaping a more robust and equitable social state.</p> <p>&nbsp;</p> <p><strong>Keywords: </strong>Taxation, wealth distribution, progressive taxation, social transfers, social state.</p> <p><strong>Classification JEL</strong>: H23, I39</p> <p><strong>Paper type</strong>: Theoretical article</p> Abdelkarim JABRI, Lamyae MAOUAN Copyright (c) 2024 Abdelkarim JABRI, Lamyae MAOUAN Mon, 08 Jul 2024 23:33:05 +0000 Public finance management in the digital age <p>This article analyzes the relationship between the digital revolution and public finance management in the context of the dynamic transformations initiated by Morocco over more than a decade ago. The aim of this research is to assess the impact of digitalization on the efficiency of public finance management in Morocco, highlighting the benefits and challenges associated with this digital transformation. The methodology adopted combines a literature review of digital reforms to obtain a comprehensive view of the changes induced by digitization. The results show that digitization has improved the transparency, efficiency and traceability of public financial operations. Integrated information systems have facilitated resource management, budget planning and expenditure control. However, challenges remain, notably in terms of data security, staff training and resistance to change. The main limitation of this study lies in the limited access to specific, up-to-date data concerning certain reforms, making impact assessment partially subjective. The results of this research provide valuable insights for policy-makers and public managers, highlighting the importance of continuous training, regular updating of digital systems and proactive change management in maximizing the benefits of digitization. This study makes an original contribution by putting into perspective the specificities of the Moroccan context in public finance management in the digital age.</p> <p>&nbsp;</p> <p><strong>Keywords: </strong>Digital administration, digitalization, training, public finances, public services.</p> <p><strong>JEL Classification: </strong>E69, H83, O32.</p> <p><strong>Paper type: </strong>Theoretical Research.</p> <p><span style="vertical-align: inherit;"><span style="vertical-align: inherit;">&nbsp;</span></span></p> Ayoub OUBOUMLIK, Naoual OUAZZANI TOUHAMI Copyright (c) 2024 Ayoub OUBOUMLIK, Naoual OUAZZANI TOUHAMI Mon, 08 Jul 2024 23:42:41 +0000 Impact of the covid-19 crisis on the Moroccan banking sector <p>The health crisis severely affected bank profitability, both during the pandemic and after its immediate effects had subsided. Banks faced an increase in non-performing loans, a reduction in interest margins and a general decline in investor confidence. Containment measures and declining economic activity compounded these challenges, limiting credit opportunities and increasing default risks.Furthermore, our analyses reveal that even after containment measures were lifted, negative impacts on bank performance persisted. Banks had to revise their risk management strategies and adjust their long-term profitability forecasts. The crisis thus highlighted the vulnerability of the Moroccan banking sector to external shocks, and underlined the importance of strengthening resilience and risk management mechanisms to prepare for possible future crises.</p> <p>The aim of our paper is to analyze the impact of the COVID-19 health crisis on the banking sector in Morocco, highlighting its negative effects on the performance of the Moroccan banking sector. To this end, we have used the GARCH (Generalized Autoregressive Conditional Heteroskedasticity) model to examine the volatility of the Moroccan banks' stock index, based on daily prices and geometric returns.</p> <p><strong>&nbsp;</strong></p> <p><strong>Keywords:</strong> Banks index, Covid-19, GARCH, financial shocks, volatility.</p> <p><strong>JEL Classification: </strong>G21.</p> <p><strong>Paper type: </strong>Empirical research</p> <p><strong>&nbsp;</strong></p> Hajar BENBACHIR, Ouiame BENZIZOUN Copyright (c) 2024 Hajar BENBACHIR, Ouiame BENZIZOUN Mon, 08 Jul 2024 23:51:07 +0000 Comprehensive analysis of the impacts of COVID-19 on educational inequalities in rural Morocco and perspectives for public policies <p>Despite the implementation of significant educational reforms in Morocco in 1999, 2009, and 2015, there persists a notable disparity in school enrollment between boys and girls, public and private school students, and urban and rural residents. Consequently, educational inequalities have increased, particularly during and after the global pandemic.</p> <p>Consequently, the advent of the COVID-19 pandemic compelled Moroccan educational systems to adapt to novel circumstances swiftly, precipitating significant challenges about the right to education during periods of crisis.</p> <p>This article aims to analyze the educational losses and inequalities caused by the COVID-19 pandemic and the responses of governments, schools, and teachers, with a particular focus on rural Moroccan areas. To address this gap, this study also aims to propose actions to strengthen education in rural areas, as a common good and a bulwark against inequalities.</p> <p>A quantitative and qualitative survey conducted in rural areas of Morocco revealed that the COVID-19 pandemic has exacerbated existing educational inequalities in these areas. The limited access to technology, the school closures, and the socio-economic disparities were significant factors that affected the educational outcomes.</p> <p>Together, the discourses and practices of teachers and principals demonstrate the intricacy of managing education during and in the aftermath of a pandemic. This illuminates both the difficulties inherent in reform and the necessity of learning from crises.</p> <p>&nbsp;</p> <p><strong>Keywords: </strong>Inequalities, education, pandemic, rural, public policy, dropout.</p> <p><strong>JEL Classification: </strong><em>I24 </em></p> <p><strong>Paper type: </strong>Empirical research.</p> <p><strong>&nbsp;</strong></p> Youssef NAIT BELAID, Khalid DERKAOUI, Youssef AIT HADDOUCH Copyright (c) 2024 Youssef NAIT BELAID, Khalid DERKAOUI, Youssef AIT HADDOUCH Tue, 09 Jul 2024 00:00:00 +0000 Comparative analysis Morocco-South Korea in the context of E-administration and the digital transition of the State <p>This article, from the conceptual literature, more theoretical than practical, aims to analyze the role of digitalization in the performance of Moroccan public administrations.In recent years, several governments have turned their attention to the digital phenomenon, offering users digital services that facilitate access to information and simplify administrative procedures, with the aim of bringing the public closer to public administration and raising awareness of its benefits.Strengthening Morocco's e-government, guided by the Korean approach, requires significant adaptation of best practices observed in South Korea. By leveraging South Korea's advanced technological infrastructure and government initiatives, Morocco can achieve the transition to digital government.South Korea and Morocco have established several partnerships for the digitization of public administration, as part of broader cooperation in information and communication technologies (ICT).The aim of this article is to synthesize a systematic review of the literature on the phenomenon of digital transformation and e-government, to analyze the factors influencing this transformation and to identify the obstacles that may arise during the digitization process.The research carried out shows that there are several prerequisites and determinants for a successful digital transformation of public administration (trust, awareness, acceptance, agility...).To gain a better understanding of the subject, we will try to gather as much information as possible on the achievements of South Korea and Morocco in terms of the digitization of public services, in order to compare the two countries and draw up recommendations and best practices for mastering the digital transition of public administration.&nbsp;&nbsp;&nbsp; &nbsp;</p> <p><strong>&nbsp;</strong></p> <p><strong>Keywords:</strong> digital transformation, e-government, Morocco, South Korea, Public administration.&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;</p> <p><strong>Classification JEL:</strong> H11</p> <p><strong>Paper type&nbsp;: </strong>theorical Research</p> Saad RGUIOUEG, Fatimazohra AZIZI, Hindou BADDIH Copyright (c) 2024 Saad RGUIOUEG, Fatimazohra AZIZI, Hindou BADDIH Tue, 09 Jul 2024 00:07:51 +0000 Evolution of pedagogical discourse in Moroccan universities: impact of online interactions on the co-construction of knowledge <p>Distance education is gaining increasing importance in Moroccan universities, thanks to the accessibility and diversification of dissemination methods. This mode of teaching relies on active methodologies and seeks to facilitate interaction among participants in the educational process. The objective remains similar to that of traditional in-person teaching: to engage participants in a participatory approach that fosters the collective construction of knowledge. However, the strategies and tools employed in this innovative pedagogical framework differ significantly. Synchronous and asynchronous communications are generally structured in a planned manner to overcome the constraints of distance. Pedagogical discourse is continuously evolving, facing new and complex communication challenges. In this context, the present article examines the role of online pedagogical discourse through didactic interactions during the co-construction of knowledge in distance learning environments. To conduct this research, we adopt a mixed-method approach combining direct observation of the formal apparatus of enunciation on the Moodle platform, particularly in discussion forums, with the administration of a questionnaire via Google Forms. The collected data are then analyzed and compared with the prescribed pedagogical objectives to evaluate the effectiveness and impact of these online interactions on the learning process. This study aims to shed light on the specific communication dynamics of digital environments and their implications for the evolution of pedagogical practices in higher education in Morocco. The results provide relevant insights into optimizing online interactions to promote collaborative and effective learning, thereby contributing to the continuous improvement of distance education practices.</p> <p>&nbsp;</p> <p><strong>Keywords: </strong>Online interactions; educational discourse; e-learning; distance education; forums</p> <p><strong>Classification JEL</strong>&nbsp;: M41</p> <p><strong>Paper type</strong>: Empirical Research</p> Asmae LAAOUJ, Mohammed ATMANI Copyright (c) 2024 Asmae LAAOUJ, Mohammed ATMANI Sun, 14 Jul 2024 13:23:43 +0000 Industrial policies in the 21st century: the 4th generation of industrial revolutions <p>Industry 4.0, also known as the Fourth Industrial Revolution, is characterized by the integration of advanced digital technologies into manufacturing processes. The main pillars of Industry 4.0 include the Internet of Things, artificial intelligence, additive manufacturing and robotics. These technological advances aim to increase the efficiency, flexibility and productivity of factories, opening the way to new opportunities for businesses and economies. The impact of Industry 4.0 on industrial policy is significant, as it leads to a major transformation of industrial processes and economic models. Technological advancements such as the Internet of Things, artificial intelligence and additive manufacturing are changing the way businesses operate. This requires adapting industrial policies to encourage innovation, competitiveness and sustainability. In the context of Industry 4.0, industrial policy faces several major challenges such as the need to adapt to rapid technological advances, ensure data protection and respond to the challenges linked to the digital transition. However, these challenges also offer unique opportunities for industrial policy, notably in terms of promoting innovation, boosting business competitiveness and promoting sustainable economic growth. The key lies in the ability of governments and industry players to work closely together to seize these opportunities and successfully address the challenges.</p> <p>Observation of the main experiments underway since the second decade of the third millennium allows us to note the multitude of objectives for each case. Feedback from international experiences reveals a concentration on digitalization, the Internet of Things, Data and renewable energies. The main objective of this work is to provide researchers and policy makers with a range of data that will be used to implement academic choices in economic studies or public policies regarding industrial development visions.</p> <p>&nbsp;</p> <p><strong>Keywords: </strong>Industry 4.0, industrial policy, Internet of Things, Data, Cloud</p> <p><strong>JEL Classification: </strong><em>B15, F68, G18, O31&nbsp; </em></p> <p><strong>Paper type: </strong>Theoretical Research&nbsp;</p> Yassine ALIA, Nouh EL HARMOUZI Copyright (c) 2024 Yassine ALIA, Nouh EL HARMOUZI Sun, 14 Jul 2024 13:31:58 +0000 Developing Inclusive Business Models at the Base of the Pyramid: A Resource-Based View <p>This paper is grounded in the extended resource-based theory proposed by Warnier, Weppe, and Lecocq (2013), which emphasizes the role of managerial subjectivity in defining resources that can be leveraged for competitive advantage. Traditionally, resources have been classified as strategic, ordinary, or negative, with negative resources often overlooked despite their potential value. This study explores how the business model framework can facilitate the identification, capture, transformation, and delivery of negative resources by combining them with other resources. We address the gap in the literature concerning the integration of negative resources and their strategic importance.</p> <p>Through an exploration of two detailed case studies of companies operating in the Base of the Pyramid (BOP) market, we provide empirical insights into innovative practices that enable these firms to convert negative resources into valuable assets. The case studies include <em>THE ORGANIZATION X 's "Branchements Sociaux BS</em>" program in Morocco and <em>THE ORGANIZATION Y</em> in Bangladesh. These cases illustrate how organizations can repurpose negative resources to create inclusive and sustainable business models, offering essential services to underserved communities.</p> <p>Our findings suggest that negative resources, when effectively integrated and managed, can significantly contribute to both social and economic value creation. This study highlights the importance of developing inclusive business models that not only provide essential services to marginalized populations but also utilize and enhance local resources and capabilities. The implications of this research extend to managers and policymakers seeking to foster innovation and sustainability in resource-constrained environments. By focusing on how negative resources can be transformed into strategic assets, this research offers valuable insights into creating competitive advantages in BOP markets.</p> <p>&nbsp;</p> <p><strong>Keywords: </strong>Inclusion, negative resources, Base of the Pyramid (BOP), sustainable business models, resource-based theory.</p> <p><strong>JEL Classification: </strong>L22 Firm Organization and Market Structure</p> <p><strong>Paper type: </strong>Empirical research</p> Sabrina NASSIH Copyright (c) 2024 Sabrina NASSIH Sun, 14 Jul 2024 13:40:55 +0000 Determining factors and perceived quality of public service <p><strong>Abstract:</strong></p> <p>This critical paper examines the complex issue of quality in public services. It explores the origins and definitions of the concept of quality, as well as the principle of the state's legitimacy as a service provider. It emphasizes the importance for public authorities, especially in Morocco, to measure the perceived quality of public services and its impact on public organizations. The SERVQUAL model is discussed as a tool to assess perceived quality in the public sector. The specific dimensions of public service quality are outlined, including accessibility, equal treatment of users, involvement of users in service design, complaint management, and transparency of information. The distinction between produced service quality and perceived service quality is highlighted, noting that public sector quality frameworks often focus more on internal management than user perceptions. The legal and constitutional regulation of public services in Morocco is examined, including the Moroccan Public Service Charter and various mechanisms to ensure quality. The paper concludes that the examination of quality in public services is particularly complex due to the multitude of legal and regulatory texts governing the public sector, making it a critical analysis of the existing paradigms and their effectiveness in evaluating public service quality.</p> <p>&nbsp;</p> <p><strong>Keywords:</strong> Public services, quality, perceived quality, SERVQUAL, Morocco, public service charter.</p> <p><strong>JEL Classification: </strong>M31</p> <p><strong>Paper type: </strong>Theoretical Research<strong>&nbsp; </strong></p> Ali OUHAKI, Ghizlane SAAD, Cheklekbire MALAININE Copyright (c) 2024 Ali OUHAKI, Ghizlane SAAD, Cheklekbire MALAININE Sun, 14 Jul 2024 13:49:20 +0000