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Economic & Sector Work :: Policy Note

Is There a New Vision for Maghreb Economic Integation? Volume 2. Annex

AGRICULTURE ANDEAN PACT AVERAGE TARIFF AVERAGE TARIFF RATE BILATERAL AGREEMENTS BILATERAL TRADE BILATERAL TRADE FLOWS CD CENTRAL AMERICAN COMMODITY PRICES COMMON MARKET COMPARATIVE ADVANTAGE COMPARATIVE DISADVANTAGE COMPETITION POLICY COMPETITIVE EFFECTS COMPETITIVE POSITION CONCESSIONS CONSUMER PRICE CONSUMER PRICE INFLATION CONSUMERS CONVERGENCE CURRENCY CURRENCY UNION CURRENT ACCOUNT CUSTOMS CUSTOMS UNION DEBT DOMESTIC COMPETITION DOMESTIC CONSUMERS DOMESTIC MARKET DOMESTIC MARKETS EAST EUROPE ECONOMIC COMMUNITY ECONOMIC INTEGRATION ECONOMIC RISK ECONOMIES OF SCALE EXCHANGE RATE STABILITY EXPORT BARRIERS EXPORT DATA EXPORT DEMAND EXPORT DIVERSIFICATION EXPORT EARNINGS EXPORT GROWTH EXPORT PRODUCTS EXPORT SECTOR EXPORT VALUE EXPORTERS EXPORTING COUNTRY EXPORTS FINANCIAL INSTITUTIONS FINANCIAL SECTOR FINANCIAL SERVICES FOREIGN COUNTRY FOREIGN DEBT FOREIGN DIRECT INVESTMENT FOREIGN EXCHANGE FOSTERING MARKET FREE TRADE FREE TRADE ZONE GDP GDP PER CAPITA GLOBAL EXPORTS GRAVITY MODEL GROSS DOMESTIC PRODUCT GROSS FIXED CAPITAL FORMATION GROWTH RATE GROWTH RATES HUMAN CAPITAL IMPORT BARRIERS IMPORT TARIFFS IMPORTING COUNTRY INDUSTRIAL ECONOMIES INDUSTRIAL PRODUCTION INDUSTRIALIZATION INDUSTRY TRADE INFLATION INTELLECTUAL PROPERTY INTELLECTUAL PROPERTY RIGHTS INTEREST RATE INTERNATIONAL TRADE INTRAINDUSTRY TRADE INTRAREGIONAL TRADE INVESTMENT CLIMATE INVESTMENT RATE INVESTMENT RULES LATIN AMERICAN LEGAL STATUS LIQUIDITY LOCAL CURRENCY MARKET ACCESS MARKET CONCENTRATION MARKET SHARE MARKET SHARE CHANGES MARKET SHARES MARKET SIZE MEASURE OF TRADE MEMBER COUNTRIES MERCHANDISE MERCHANDISE EXPORTS MERCHANDISE TRADE MIDDLE EAST NATIONAL TREATMENT NATURAL MONOPOLIES NORTH AFRICA OPENNESS PARTNER COUNTRIES POLICY REFORMS POLITICAL RISK POSITIVE EFFECTS PREFERENTIAL AGREEMENTS PREFERENTIAL TRADING PREFERENTIAL TRADING AGREEMENTS PRICE CONTROL PRICE LIBERALIZATION PRIVATE SECTOR PRIVATE SECTOR INVOLVEMENT PROPERTY RIGHTS PURCHASING PURCHASING POWER PURCHASING POWER PARITY REAL EXCHANGE RATE REAL GDP REGIONAL AGREEMENTS REGIONAL ARRANGEMENT REGIONAL INTEGRATION REGIONAL MARKET REGIONAL TRADE REGIONAL TRADE AGREEMENT REGIONAL TRADE AGREEMENTS SHARE OF WORLD EXPORTS SPECIALIZATION STANDARD ERRORS SUB-SAHARAN AFRICA TARIFF BARRIERS TARIFF DATA TARIFF LEVELS TARIFF LINES TARIFF RATE TELECOMMUNICATIONS TERMS OF TRADE TERMS OF TRADE SHOCKS THE GAMBIA TRADE AGREEMENT TRADE FLOW TRADE FLOWS TRADE INTENSITY TRADE MORE TRADE OPENNESS TRADE RELATIONSHIP TRADE SHARE TRADING PARTNERS TRANSITIONAL COUNTRIES TRINIDAD AND TOBAGO VALUE OF EXPORTS WORLD ECONOMY WORLD INVESTMENT WORLD MARKET WORLD TRADE WTO
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Washington, DC
Middle East and North Africa
2014-08-22T20:29:22Z | 2014-08-22T20:29:22Z | 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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