Financial Sector Reforms in Algeria, Tunisia and Morocco

Abstract

This paper review assesses the Financial Sector Reforms in Algeria, Tunisia and Morocco, from this standpoint, light was shed on the status of these reforms within the International Monetary Fund’s programs and the most important things that the three countries have done at the level of tax and banking systems, as well as the laws that govern them, in addition to monetary and financial policy.

As for the normative study, it was conducted on the basis of the ARDL model by choosing three independent variables represented by government spending, money supply, and the exchange rate, and a dependent variable represented by the gross domestic product, which expresses the gross domestic product’s impact of these reforms on the economies of these countries, this study produced weak results, within this model, with the exception of Morocco, which achieved somewhat acceptable results compared to Algeria and Tunisia, this may be due to the fact that these reforms do not fit with the structure and specificity of the economies of these three countries under study.