Amina Ait Hbibi

This study examines the determinants influencing the attractiveness of foreign direct investment (FDI) in Morocco during the period 2000–2023. The data utilized in this study are sourced from the World Bank and the International Monetary Fund, encompassing economic, institutional, and infrastructural dimensions. The model includes variables representing economic growth, economic openness, inflation, infrastructure quality, political and macroeconomic stability, institutional quality, and fiscal policy. A Ridge regression was adopted to address multicollinearity issues detected in the data. Econometric diagnostics, including stationarity tests, residual normality tests, autocorrelation tests, and heteroskedasticity tests, confirm the robustness of the model.The results show that economic openness has a positive and significant effect on FDI inflows, highlighting the importance of trade and international integration. Political and macroeconomic stability also exerts a positive and significant impact, confirming that foreign investors value a stable environment. Conversely, economic growth exhibits a negative and non-significant effect, suggesting that Morocco’s growth has not been sufficient to create favorable conditions for FDI attractiveness. Infrastructure quality and institutional quality show significant negative impacts, which may reflect perceived shortcomings in these areas despite ongoing efforts. Inflation has no statistically significant effect on FDI, while fiscal policy has a significant negative impact, indicating that tax policies have a dissuasive effect on international investors.

Type of the article: Research Article

Abstract
This paper examines the potential impact of financial technology (Fintech)on the financial inclusion of women working in the informal sector in Morocco, a population largely excluded from formal financial systems despite the rapid expansion of digital financial services.
The study aims to identify the key factors that influence the adoption of Fintech solutions among these women, using the Technology Acceptance Model (TAM) as the theoretical framework. Specific variables analyzed include perceived usefulness, ease of use, cost reduction, transaction security, and language accessibility.
The study is based on primary data collected through a structured survey conducted between March and May 2024. The sample consists of 315 Moroccan women engaged in informal sectors, including local trade, handicrafts, and agriculture. The women come from both rural and urban areas. An ordered Probit model is employed to test eight hypotheses concerning the adoption of Fintech.
Results show that simple user interfaces, lower costs, and perceived security significantly increase the likelihood of Fintech adoption. Conversely, variables such as greater access to financial services or awareness-raising initiatives have a limited impact. Control variables such as level of education and social influence also reveal significant effects, while access to digital infrastructure shows a more moderate influence. The results underline that Fintech can contribute to the financial inclusion of women in the informal sector, provided that solutions are simple, affordable, and culturally appropriate. The study recommends the development of Fintech tools adapted to the sociocultural and technological contexts of this vulnerable group.