The Knowledge-Based Economy and the Economic Growth in Morocco: An Econometric Analysis

Abstract

The main aim of this research is to study the impact of the determinants of the new economy or knowledge economy on economic growth in Morocco, for a period from 1990 to 2023 (a sample of 34 years).  To do this, our analysis is based on the study of four key elements that define the knowledge economy domain according to the World Bank and the OECD. The four factors used are the education system, which is a key element of the knowledge-based economy, measured by expenditure on education, and is an essential element in the development of human capital; innovation, measured by the number of patent applications filed, which is a key indicator of the creativity and efficiency of innovation systems; and the use of information technologies, measured by the number of patent applications filed, which is an essential element in the development of human capital, the use of information and communication technologies (ICT), quantified by the number of Internet users, which are also essential for ensuring easy access to information, and finally, institutional quality, measured by the quality of regulation, which is a fairly important measure for ensuring a favorable environment for research and development.

Through an econometric study, the results obtained indicate that although progress has been made in certain sectors such as education and digitalization, Morocco is still a long way from full integration into a knowledge-based economy.

The Moroccan government must therefore redouble its efforts to improve its skills in each of these four sectors. And this greater involvement in the knowledge economy could help to accelerate Morocco's economic growth and optimize its place on the international stage.

Keywords: Knowledge Economy, Economic Growth, Morocco

JEL Classification: O39

Paper type: Empirical Research