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Economic & Sector Work :: Policy Note

Is There a New Vision for Maghreb Economic Integation? Volume 1. Main Report

ACCESSION AGREEMENTS AGRICULTURE AIR TRANSPORT APPAREL APPLIED TARIFF BARRIERS TO ENTRY BILATERAL TRADE BILATERAL TRADE AGREEMENT BILATERAL TRADE AGREEMENTS BORDER BARRIERS CAPITAL MARKET COMPARATIVE ADVANTAGE COMPETITION POLICY COMPETITIVENESS CONSUMERS CUSTOMS CUSTOMS CLEARANCE DEREGULATION DISPUTE SETTLEMENT DISPUTE SETTLEMENT MECHANISMS DIVERSIFIED EXPORTS DOMESTIC DISTORTIONS DOMESTIC MARKET DOMESTIC POLICY REFORMS DOMESTIC REFORMS DOMESTIC REGULATORY POLICIES DOMESTIC STANDARDS EAST EUROPE ECONOMIC EFFICIENCY ECONOMIC GROWTH ECONOMIC INTEGRATION ECONOMIES OF SCALE EUROPEAN UNION EXCHANGE RATE EXPORT DIVERSIFICATION EXPORT DYNAMISM EXPORT EXPANSION EXPORT GROWTH EXPORT PERFORMANCE EXPORT PRODUCTS EXPORT SPECIALIZATION EXPORT VALUE EXPORTERS EXPORTS EXTERNAL MARKETS EXTERNAL TARIFFS FINANCIAL SECTOR FINANCIAL SECTORS FINANCIAL SERVICES FOREIGN DIRECT INVESTMENT FOREIGN EXCHANGE FOREIGN FIRMS FOREIGN INVESTMENT FOREIGN INVESTORS GDP GDP PER CAPITA GLOBAL COMPETITION GLOBAL ECONOMY GLOBAL INTEGRATION GLOBAL MARKETS GLOBAL PRODUCTION GLOBAL PRODUCTION CHAINS GROWTH RATE GROWTH RATES HARMONIZATION IMPORT COMPETITION IMPORT TARIFFS IMPORTS INCOME INCOME GROWTH INCOME LEVELS INDUSTRY TRADE INPUT-OUTPUT TABLES INTEGRATION EFFORTS INTERNATIONAL COMPETITIVENESS INTRAREGIONAL TRADE INVESTMENT CLIMATE KNOWLEDGE SPILLOVERS LABOR FORCE LOW TRADE MACROECONOMIC CONDITIONS MARGINAL IMPACT MARKET ENLARGEMENT MARKET INTEGRATION MARKET SHARE MARKET SIZE MARKET-SEGMENTING EFFECT MEMBER COUNTRIES MERCHANDISE TRADE MFN TARIFFS MIDDLE EAST MULTILATERAL COMMITMENTS MULTILATERAL NEGOTIATIONS MULTINATIONAL ENTERPRISES NATIONAL MARKETS NON-TARIFF BARRIERS NORTH AFRICA OPEN REGIONALISM PER CAPITA INCOME PER CAPITA INCOMES POLICY BARRIERS POLICY REFORMS POLITICAL ECONOMY PORT CHARGES PRICE LIBERALIZATION PRIVATE INVESTMENT PRIVATE SECTOR PRODUCTION COSTS PROTECTIONISM PRUDENTIAL REGULATION QUANTITATIVE RESTRICTIONS REAL GDP REGIONAL BLOCS REGIONAL COOPERATION REGIONAL INTEGRATION REGIONAL INTEGRATION EFFORTS REGIONAL MARKET REGIONAL MARKETS REGIONAL TRADE REGIONAL TRADE AGREEMENT REGIONAL TRADING ARRANGEMENTS REGRESSION ANALYSIS REGULATORY COOPERATION REGULATORY FRAMEWORK REGULATORY FRAMEWORKS REGULATORY POLICIES REGULATORY REFORMS REMOVAL OF TRADE BARRIERS REMOVING BARRIERS SCALE ECONOMIES SHALLOW INTEGRATION SPECIALIZATION TARIFF BARRIERS TARIFF RATES TELECOMMUNICATIONS TOURISM TRADE BARRIERS TRADE DIVERSION TRADE EXPANSION TRADE IN GOODS TRADE IN SERVICES TRADE INTEGRATION TRADE INTENSITY TRADE LIBERALIZATION TRADE PERFORMANCE TRADE POLICY TRADE POLICY REFORMS TRADING BLOCS TRADING PARTNER TRADING PARTNERS TRANSACTION COSTS TRANSPORT COSTS TRANSPORT SERVICES UNEMPLOYMENT UNSKILLED LABOR WORLD ECONOMY WORLD TRADE WTO
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Washington, DC
Middle East and North Africa
2014-08-25T14:49:36Z | 2014-08-25T14:49:36Z | 2006-11

This report on the new vision for Magreb economic integration argues that assessing the benefits from regional integration can best be done in the context of the broader issues of economic integration in the world economy and more specifically with the main trading partner, the European Union. Based on empirical evidence the paper finds that there is limited potential for intraregional merchandise trade integration in the Maghreb. The report also alerts that benefits from deeper economic integration are no means automatic. Several worldwide studies have argued that weaknesses in the investment climate not only hinder a country's imports and inward foreign direct investment, they also deter exports from enterprises operating in the domestic economy (World Bank, 2005). Service liberalization requires complementary policies and effective regulation, ranging from prudential regulation to pro-competitive regulation in telecommunications. The concluding message emerging from the analysis is that a strategy focusing on service sector and investment climate reforms aimed at facilitating market competition and contestability would improve growth, trade and investment performance in the Maghreb, bringing greater economic gains than would be derived from merchandise trade liberalization alone. The report is structured as follows. The first chapter examines the prospects of regional integration based on merchandise trade liberalization. It does so by performing a detailed quantitative analysis of Maghreb's trade and investment patterns and performance. The chapter also assesses Maghreb countries' trade and investment potential, drawing on panel trade and investment gravity models. The second chapter identifies policy barriers, relative performance and progress made by Maghreb countries in investment climate and service sector policy reforms. To allow for cross-country comparability, the report draws on the methodology developed by the European Central Bank for Reconstruction and Development (EBRD) to construct policy reform indexes for the Maghreb countries. The third chapter aims at estimating the economic gains from deeper and wider integration. The final section of the report summarizes the main conclusions and policy implications drawn from the analysis.

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