IMPACT OF SWIFT TRANSACTIONS ON THE ECONOMIC DEVELOPMENT OF MOROCCO

Autor

  • Inass Bouayach Doctorate Student, Abdelmalek Essaadi University, Morrocco
  • Moad El Kharrim Professor, Abdelmalek Essaadi University, Morrocco
  • Mohamed Dakkon Professor, Abdelmalek Essaadi University, Morrocco

DOI:

https://doi.org/10.46827/ejefr.v8i8.1933

Słowa kluczowe:

SWIFT transactions, economic development, financial digitalization, international trade, foreign direct investment

Abstrakt

The modernization of payment systems – the global SWIFT (Society for Worldwide Interbank Financial Telecommunication) network is generally regarded as an enabler of financial integration and economic growth. This paper offers a test of the impact of digitalization of the financial sector via SWIFT on the economic development of Morocco, looking at channels such as international trade, foreign direct investment (FDI) and productive capital investment. We employ annual data from the period 2000-2023 and perform stationarity tests and Granger causality analysis in this paper, then estimate a multiple regression model by the Ordinary Least Squares (OLS) method and a two-stage least squares (2SLS) model to treat the potential endogeneity of the SWIFT variable. The results show that more SWIFT transaction is related to higher GDP, but the effect is positive yet small and depends on the economic sector and the quality of investment. The trade openness has a mixed relationship with growth (including negative effects at some points), and FDI inflows have a limited contribution to GDP growth. These findings indicate that the digitalization of transactions through SWIFT can improve the effectiveness and robustness of the financial sector, but it must be supported by policies that enhance export competitiveness and direct investments towards sustainable economic development.

 

JEL: F36, O11, O33, F14, F21

 

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Biogramy autorów

  • Inass Bouayach - Doctorate Student, Abdelmalek Essaadi University, Morrocco

    Inass Bouayach is a PhD student at Abdelmalek Essaâdi University, specializing in finance and digitization. His research explores the intersection of digital finance and financial markets, analyzing how emerging technologies such as blockchain, fintech innovations, and digital banking are transforming traditional financial systems. As a doctoral candidate, he is actively engaged in studying the impact of financial digitization on market efficiency, regulatory frameworks, and financial inclusion, contributing to the evolving discourse on the digital transformation of finance.

  • Moad El Kharrim - Professor, Abdelmalek Essaadi University, Morrocco

    Professor Moad El Kharrim is an academic at Abdelmalek Essaâdi University, specializing in econometrics, applied statistical modeling, mathematical finance, and portfolio management. His research explores the role of artificial intelligence in enhancing business management, financial decision-making, and investment strategies. He focuses on optimizing portfolio allocation, risk management, and financial forecasting through advanced statistical and AI-driven models. His work also integrates sustainable management practices with digital transformation, emphasizing the environmental and economic benefits of AI in financial and business applications.

  • Mohamed Dakkon - Professor, Abdelmalek Essaadi University, Morrocco

    Professor Mohamed Dakkon is an academic at Abdelmalek Essaâdi University, specializing in statistical modeling and actuarial science. His research focuses on developing advanced statistical and probabilistic models for risk assessment, insurance, and financial forecasting. He explores the applications of actuarial science in optimizing financial decision-making, enhancing predictive analytics, and managing uncertainty in economic and financial systems. His work also integrates emerging data-driven methodologies to improve risk management and strategic planning in insurance and finance.

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Pobrania

Opublikowane

2025-04-30

Numer

Tom 8 Nr 8 (2025)

Dział

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