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<p>Understanding the connections between different economic sectors is essential for evaluating the stability and potential to recover financial markets. This study investigates the Moroccan stock market and explores the interrelationships between several industries, such as insurance, banking, telecommunications, construction, oil and gas, transportation, leisure, and hospitality. The investigation used the time-varying parameter vector autoregression method to examine how volatility spreads across different sectors regarding intensity, direction, and variation. This analysis involves studying both static and dynamic correlations. The analysis encompasses the pre-pandemic and pandemic phases, covering the time frame from January 1, 2019, to December 31, 2021. Preliminary evidence suggests that before the COVID-19 crisis, the various sectors of the Moroccan economy operated with a significant degree of autonomy from one another. However, during the pandemic, their relationships grew stronger. The findings are crucial for policymakers as they provide valuable information for creating specific risk management strategies and strategic plans to maintain economic strength during the upcoming crises.</p>

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Revealing sectoral dynamics: the impact of the COVID-19 crisis on Moroccan economic interconnections

  • 期刊论文

  • 发表日期：

    2025年9月8日

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  • Mohamed Beraich,
  • Hanane Allioui,
  • Sara El Aoufi

摘要

Understanding the connections between different economic sectors is essential for evaluating the stability and potential to recover financial markets. This study investigates the Moroccan stock market and explores the interrelationships between several industries, such as insurance, banking, telecommunications, construction, oil and gas, transportation, leisure, and hospitality. The investigation used the time-varying parameter vector autoregression method to examine how volatility spreads across different sectors regarding intensity, direction, and variation. This analysis involves studying both static and dynamic correlations. The analysis encompasses the pre-pandemic and pandemic phases, covering the time frame from January 1, 2019, to December 31, 2021. Preliminary evidence suggests that before the COVID-19 crisis, the various sectors of the Moroccan economy operated with a significant degree of autonomy from one another. However, during the pandemic, their relationships grew stronger. The findings are crucial for policymakers as they provide valuable information for creating specific risk management strategies and strategic plans to maintain economic strength during the upcoming crises.