Strategies of Economic Openness for Maghreb Countries under the New Regime of Global Trade: An Empirical Study for the Economies of: Algeria, Libya, and Tunisia

Abstract

This paper presents an analytic study of the economies of many countries of the Maghreb, through formulation of the economic relations, and construction of an experimental model. The study conducted an empirical use of the model to estimate and analyze of the impact of the economic activity performance of these countries, measured by GDP, as well as many relevant macroeconomic variables. Also, the work proceeded to predict the trends of future economic growth, especially in the context of taking into account the overall their affiliation to the World Trade Organization (WTO). Results of quantitative analysis led to a result, that the solo financial liberalization of those economies - being studied - did not leave a positive and significant impact on GDP, while the positive impact was found on the collective level of those States. Thus, the handle in the form of merger of financial institutions and of their markets would lead to achieving economic advantages in the field of competition in the global financial markets. In addition, That handle will lead to strengthen their negotiating positions, for each of them, in the context of contributing to decisions formulation of the WTO, in order to achieve tangible economic returns, and then to a real integration in the multilateral trading system.