Public-Private Partnership and Economic Growth in Morocco: An Empirical Analysis
Keywords:
Public–Private Partnership; infrastructures; economic growth; multiple linear regression
Abstract
Public-private partnerships (PPPs) have emerged as an innovative investment model for infrastructure projects. Introduced in Morocco during the 1990s, PPPs have since become an important element of the country's economic development strategy, in order to stimulate economic development and address infrastructure challenges. Our paper aims to study the impact of investment in public-private partnerships on economic growth. This study serves to enrich and complement the existing work in this field, thus contributing to the advancement of knowledge and expanding the boundaries of the existing literature.The dataset was analyzed using Autoregressive Distributed Lag (ARDL). The results indicate that investment in PPPs has a positive and statistically significant impact on Morocco's economic growth in the long term, highlighting the effectiveness of this investment model in the national context.
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References
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5. Banda, Z., & Jeke, L. (2022). The impact of Public-Private Partnerships on Zambia's economic growth and development. African Review of Economics and Finance, 14(1), 135-175.
6. Barro, R. J. (1990). Government spending in a simple model of endogeneous growth. Journal of political economy, 98(5, Part 2), S103-S125.
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11. Canning, D., & Bennathan, E. (2000). The social rate of return on infrastructure investments. Available at SSRN 630763.
12. Checherita, C. D. (2009). A macroeconomic analysis of investment under public-private partnerships and its policy implications—the case of developing countries. George Mason University.
13. Delmon, J. (2010). Partenariats public-privé dans le secteur des infrastructures. Guide pratique à l’intention des décideurs publics. La Banque Mondiale.
14. EIB. (2005). Évaluation des projets de type PPP financés par la BEI, Rapport d’évaluation.
15. Elhamma, A. (2012). The activity based costing in morocco: Adoption and diffusion. Arabian Journal of Business and Management Review, 1 (6), 33-45.
16. Elhamma, A. (2023). Impact of mandatory IFRS adoption on foreign direct investment: the moderating role of conflict of interest regulation. Journal of Financial Reporting and Accounting, Vol. ahead-of-print No. ahead-of-print. https://doi.org/10.1108/JFRA-04-2022-0145.
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20. Elhamma, A. and Moalla, M. (2015). Impact of uncertainty and decentralization on activity-based costing use. International Journal of Accounting and Economics Studies 3 (2), 148-155.
21. Hamed Sallam, A. (2015). The Impact of public-private partnership on Egyptian Economic Growth: A Comparative Study. Scientific Journal of Business and Environmental Studies, 6, 1-21.
22. Hammami, M., & al. (2006). Determinants of Public-Private Partnerships in Infrastructure. IMF Working Paper, WP/06/99.
23. Hodge, G. A. (2000). Privatization: An International Review of Performance. Westview Press
24. Jasiukevicius, L., & Vasiliauskaite, A. (2013). The relation between economic growth and public-private partnership market development in the countries of the European Union. Economics and management, 18(2), 226-236.
25. Kuma, J. K. (2018). Modélisation ARDL, Test de cointégration aux bornes et Approche de Toda-Yamamoto: éléments de théorie et pratiques sur logiciels. Université de Kinshasa.
26. Lee, M., & al. (2018). Deriving macroeconomic benefits from public–private partnerships in developing Asia. Asian Development Bank Economics Working Paper Series, (551).
27. Loukili, Z., & Elhamma, A. (2024). L’émergence de la politique des partenariats public-privé: Étude comparative Maroc et France. International Journal of Accounting, Finance, Auditing, Management and Economics, 5(6), 190-206. HYPERLINK "https://doi.org/10.5281/zenodo.11537330" \t "_new" https://doi.org/10.5281/zenodo.11537330
28. Mapule, M., & al. (2023). Public–private partnerships and economic growth: a sectoral analysis from developing countries. International Journal of Construction Management. Récupéré sur https://doi.org/10.1080/15623599.2023.2217374.
29. MEF. (2018). Guide du Partenariat Public privé. Direction des Entreprises Publiques et de la Privatisation. Ministère de l'Economie et des Finances. http://www.finances.gov.ma/
30. OECD. (2008). Partenariat Public Privé : partager les risques et optimiser les ressources.
31. Pesaran, M. H., Shin, Y., & Smith, R. J. (2001). Bounds testing approaches to the analysis of level relationships. Journal of applied econometrics, 16(3), 289-326.
32. Pimentel, I., & al. (2017). The impact of investment in Public Private Partnerships on Public, Private investment and GDP in Portugal. Department of Economics. Lisbon School of Economics & Management. DOI:10.13140/RG.2.2.17117.46568
33. Snoussi, N., & Elhamma, A. (2024). The pivotal role of management control in times of crisis: Enhancing organizational resilience and strategic adaptation. European Scientific Journal, ESJ, 36, 136-153.
34. The World Bank. (2016). Government Objectives: Benefits and Risks of PPPs. Public private partnership.
35. The World Bank. (2017). PPP COUNTRY PROFILE – Morocco.
36. Turan, T., & al. (2011). Economic growth effects of public and private investment: evidence from dynamic panel estimation for developed and developing countries. Prague Economic Papers. doi:DOI: 10.18267
37. UNCTAD. (2016). Le développement économique en Afrique : Dynamique de la dette et financement du développement en Afrique.
38. Yurdaku, H., & Kamasa, R. (2020). Investment through public private partnership (ppp): the impact of ppp activities on the growth of gdp. PressAcademia Procedia (PAP).
39. Yurdaku, H., & Kamasa, R. (2020). Investment through public private partnership (PPP): the impact of ppp activities on the growth of GDP. PressAcademia Procedia (PAP), V.11, p.150-152.
40. Zangoueinezhad, A., & Azar, A. (2014). How public-private partnership projects impact infrastructure industry for economic growth. International Journal of Social Economics, 41(10), 994-1010.
2. Akitoby, B., Schwartz, G., & Hemming, R. (2007). Investissement public et partenariats public–privé. In Investissement public et partenariats public–privé. International Monetary Fund.
3. Atapattu, P. J. (2019). Infrastructure Investment with Public-Private Partnership (PPP) and Economic Growth in Developing Countries in Asia. Vidyodaya Journal of Management, 5(1).
4. Bakırtaş, D., & Aysu, A. (2019). The Relationships between Public-Private Partnership Investments and Economic Growth: Panel Data Analysis. . BİLTÜRK Journal of Economics and Related Studies, 1(1), 28-42.
5. Banda, Z., & Jeke, L. (2022). The impact of Public-Private Partnerships on Zambia's economic growth and development. African Review of Economics and Finance, 14(1), 135-175.
6. Barro, R. J. (1990). Government spending in a simple model of endogeneous growth. Journal of political economy, 98(5, Part 2), S103-S125.
7. Bennani, S., & Elhamma, A. (2015), La comptabilité en finance islamique selon les normes AAOIFI. Editions universitaires européennes.
8. Bettignies, & Ross. (2009). Public–private partnerships and the privatization of financing: An incomplete contracts approach. International journal of industrial organization, 27(3), 358-368. HYPERLINK "https://doi.org/10.1016/j.ijindorg.2008.10.004" \o "Persistent link using digital object identifier" \t "_blank" https://doi.org/10.1016/j.ijindorg.2008.10.004
9. Bourbonnais. (2015). Econométrie. Editions Dunod.
10. Calderón, C., Moral‐Benito, E., & Servén, L. (2015). Is infrastructure capital productive? A dynamic heterogeneous approach. Journal of Applied Econometrics, 30(2), 177-198.
11. Canning, D., & Bennathan, E. (2000). The social rate of return on infrastructure investments. Available at SSRN 630763.
12. Checherita, C. D. (2009). A macroeconomic analysis of investment under public-private partnerships and its policy implications—the case of developing countries. George Mason University.
13. Delmon, J. (2010). Partenariats public-privé dans le secteur des infrastructures. Guide pratique à l’intention des décideurs publics. La Banque Mondiale.
14. EIB. (2005). Évaluation des projets de type PPP financés par la BEI, Rapport d’évaluation.
15. Elhamma, A. (2012). The activity based costing in morocco: Adoption and diffusion. Arabian Journal of Business and Management Review, 1 (6), 33-45.
16. Elhamma, A. (2023). Impact of mandatory IFRS adoption on foreign direct investment: the moderating role of conflict of interest regulation. Journal of Financial Reporting and Accounting, Vol. ahead-of-print No. ahead-of-print. https://doi.org/10.1108/JFRA-04-2022-0145.
17. Elhamma, A. (2023). The relationship between organisational decentralisation, balanced scorecard and its perceived benefits in Moroccan SMEs. International Journal of Accounting, Auditing and Performance Evaluation, 19 (2), 185-202. https://doi.org/10.1504/IJAAPE.2023.132384.
18. Elhamma, A. (2024). Determinants of national IFRS adoption: evidence from the Middle East and North Africa region. International Journal of Accounting, Auditing and Performance Evaluation, 20 (1-2), 69-90, https://doi.org/10.1504/IJAAPE.2024.135535.
19. Elhamma, A. (2025). Perceived benefits of IFRS adoption in Morocco and French-speaking Sub-Saharan African countries. In F. Albuquerque & P. G. Dos Santos (Eds.), Contemporary innovations in reporting and analysis (pp. 183-210). IGI Global. https://doi.org/10.4018/979-8-3693-5923-5.ch007.
20. Elhamma, A. and Moalla, M. (2015). Impact of uncertainty and decentralization on activity-based costing use. International Journal of Accounting and Economics Studies 3 (2), 148-155.
21. Hamed Sallam, A. (2015). The Impact of public-private partnership on Egyptian Economic Growth: A Comparative Study. Scientific Journal of Business and Environmental Studies, 6, 1-21.
22. Hammami, M., & al. (2006). Determinants of Public-Private Partnerships in Infrastructure. IMF Working Paper, WP/06/99.
23. Hodge, G. A. (2000). Privatization: An International Review of Performance. Westview Press
24. Jasiukevicius, L., & Vasiliauskaite, A. (2013). The relation between economic growth and public-private partnership market development in the countries of the European Union. Economics and management, 18(2), 226-236.
25. Kuma, J. K. (2018). Modélisation ARDL, Test de cointégration aux bornes et Approche de Toda-Yamamoto: éléments de théorie et pratiques sur logiciels. Université de Kinshasa.
26. Lee, M., & al. (2018). Deriving macroeconomic benefits from public–private partnerships in developing Asia. Asian Development Bank Economics Working Paper Series, (551).
27. Loukili, Z., & Elhamma, A. (2024). L’émergence de la politique des partenariats public-privé: Étude comparative Maroc et France. International Journal of Accounting, Finance, Auditing, Management and Economics, 5(6), 190-206. HYPERLINK "https://doi.org/10.5281/zenodo.11537330" \t "_new" https://doi.org/10.5281/zenodo.11537330
28. Mapule, M., & al. (2023). Public–private partnerships and economic growth: a sectoral analysis from developing countries. International Journal of Construction Management. Récupéré sur https://doi.org/10.1080/15623599.2023.2217374.
29. MEF. (2018). Guide du Partenariat Public privé. Direction des Entreprises Publiques et de la Privatisation. Ministère de l'Economie et des Finances. http://www.finances.gov.ma/
30. OECD. (2008). Partenariat Public Privé : partager les risques et optimiser les ressources.
31. Pesaran, M. H., Shin, Y., & Smith, R. J. (2001). Bounds testing approaches to the analysis of level relationships. Journal of applied econometrics, 16(3), 289-326.
32. Pimentel, I., & al. (2017). The impact of investment in Public Private Partnerships on Public, Private investment and GDP in Portugal. Department of Economics. Lisbon School of Economics & Management. DOI:10.13140/RG.2.2.17117.46568
33. Snoussi, N., & Elhamma, A. (2024). The pivotal role of management control in times of crisis: Enhancing organizational resilience and strategic adaptation. European Scientific Journal, ESJ, 36, 136-153.
34. The World Bank. (2016). Government Objectives: Benefits and Risks of PPPs. Public private partnership.
35. The World Bank. (2017). PPP COUNTRY PROFILE – Morocco.
36. Turan, T., & al. (2011). Economic growth effects of public and private investment: evidence from dynamic panel estimation for developed and developing countries. Prague Economic Papers. doi:DOI: 10.18267
37. UNCTAD. (2016). Le développement économique en Afrique : Dynamique de la dette et financement du développement en Afrique.
38. Yurdaku, H., & Kamasa, R. (2020). Investment through public private partnership (ppp): the impact of ppp activities on the growth of gdp. PressAcademia Procedia (PAP).
39. Yurdaku, H., & Kamasa, R. (2020). Investment through public private partnership (PPP): the impact of ppp activities on the growth of GDP. PressAcademia Procedia (PAP), V.11, p.150-152.
40. Zangoueinezhad, A., & Azar, A. (2014). How public-private partnership projects impact infrastructure industry for economic growth. International Journal of Social Economics, 41(10), 994-1010.
Published
2025-03-31
How to Cite
Loukili, Z., & El Hamma, A. (2025). Public-Private Partnership and Economic Growth in Morocco: An Empirical Analysis. European Scientific Journal, ESJ, 21(7), 80. https://doi.org/10.19044/esj.2025.v21n7p80
Section
ESJ Social Sciences
Copyright (c) 2025 Zineb Loukili, Azzouz El Hamma
This work is licensed under a Creative Commons Attribution 4.0 International License.
