Karim Belcaid
Senior Financial Economist, Ministry of Economy and Finance of Morocco and Financial Attaché at the Embassy of the Kingdom of Morocco in Tunisia
Karim Belcaid is a financial economist specializing in macro-finance, empirical modeling, and public financial management. He holds a PhD in Financial Economics from Mohammed V University in Rabat, where his doctoral research analyzed the dynamic linkages between Moroccan and international financial markets. Since September 2025, he has served as Financial Attaché at the Embassy of Morocco in Tunis, following more than a decade as Senior Economist at the Ministry of Economy and Finance – General Treasury of the Kingdom of Morocco, where he contributed to public accounting, fiscal public management and macro-financial statistics. He has also worked as an Economic Consultant with African Alliance, conducting financial assessments related to pandemic preparedness and response. His researches, published in journals such as The Journal of Economic Asymmetries, Journal of African Business, Sustainable Futures, and the OPEC Energy Review…, examine financial volatility, market connectedness, renewable energy economics, and public finance sustainability. A recipient of the 2022 AMMC Research Prize, he also teaches statistics, econometrics, and macro-finance.
Areas of Interest:
- Public Financial Sustainability & Fiscal Policy
- Macro-finance Modeling
- Financial Market Volatility & Connectedness
- Renewable Energy Economics & Climate-Finance
Education:
- PhD in financial Economics, Under the supervision of Professor Ahmed El Ghini, Laboratory of Analysis and Economic Modeling (LAEM), Mohammed V University in Rabat, Morocco, 2021
- M.Sc. in Engineering Statistics, National Institute of Statistics and Applied Economics (INSEA), Rabat, Morocco, 2013
- B.Sc., Mathematics. Preparatory Classes for the Grandes Ecoles of Engineering: Higher Mathematics (Moulay Youssef High School, Rabat), 2010
Experience:
- Senior Economist and Macro-Financial Specialist, Ministry of Economy and Finance– General Treasury of the Kingdom TGR, Morocco, May 2014 – Present
- Part-time Researcher and Lecturer affiliated with the Laboratory of Analysis and Economic Modeling (LAEM), Mohammed V University in Rabat, Morocco, 2016 – 2024
- Economic Consultant in African Alliance NGO, Project: Pandemic Preparedness, Prevention, and Response (PPPR) Financial Assessment, Morocco, - November 2024 – June 2025
Latest Publications:
- Belcaid, K., (2024): “Morocco's Green Shield: ESG Stock Performance under Global Climate, Economic, Geopolitical and Oil Uncertainties”. Sustainable Futures (Elsevier), https://doi.org/10.1016/j.sftr.2024.100250 (Q1 Scimago)
- El Karimi, M. and Belcaid, K. (2024): “The contribution of technological innovation, trade, and economic development to renewable energy use in the United Kingdom, Germany, and Turkey”. OPEC Energy Review (Wiley) https://doi.org/10.1111/opec.12313 (Q3 Scimago)
- Belcaid, K., El Aoufi, S. and Al-Faryan, MAS. (2023). Dynamics of contagion risk among World Markets in times of Crises: A Financial Network perspective. Asia-Pacific Financial Markets (SPRINGER NATURE). https://doi.org/10.1007/s10690-023-09439-2. (Q2 Scimago)
