بممارســة وتقاســم الســلطة التنفيذيــة، في حــدود مــا تســمح بــه المقتضيــات . الدســتورية يـًا أنـه، بغـض النظـر عـن نتيجـة � وباسـتقراء مجمـوع الخلاصـات المسـجلة، يبـدو جل حـًا أو تعثـرًًا)، فـإن � تدبيـر الشـأن العـام مـن طـرف مؤسسـة رئيـس الحكومـة (نجا مـًا قويــة مــن لعبــة تقاســم الســلطة التنفيذيــة. � المؤسســة الملكيــة تخــرج دائ وحتـى إذا افترضنـا أن هـذا السـلوك ينطـوي على قـدر مـن النفعيـة السياسـية، لا بـِر عـن نـوع مـن البراغماتيـة التـي تعتمدهـا المؤسسـة الملكيـة � يمكـن إنـكار أنـه يُُع . في تدبيـر الشـأن العـام، والتفاعـل مـع قضايـاه وتطوراتـه المختلفـة تقاســم الســلطة، نظريــة الوكالــة، الدســتور، الملــك، رئيــس كلمــات مفتاحيــة: . الحكومــة Abstract: This study addresses the issue of executive power-sharing in the Moroccan political system from the perspective of agency theory. It is based on a key hypothesis that explains the extent to which this theory aligns with the nature of the relationship between the monarchy and the head of government. The hypothesis posits that the monarchy embodies the role of the principal, standing above all, and delegates specific executive tasks to the head of government, who acts as the agent. The primary motivation for examining the validity of this alignment lies in assessing the ability of agency theory to explain the dominance of power in favour of the monarchy in its relationship with the government. By drawing on key literature related to executive power-sharing in dual political systems and the main assumptions of agency theory as a suitable methodological framework for studying contractual relationships arising from this duality—while considering differences in preferences, information asymmetry and varying risk behaviours—we demonstrate that the head of government bears all the risks associated with the exercise and distribution of executive power within the limits set by constitutional provisions. An analysis of the recorded conclusions clearly indicates that, regardless of the outcome of governance by the head of government (whether successful or unsuccessful), the monarchy always emerges stronger from the dynamics of executive power-sharing. Even if this behaviour entails a degree of political pragmatism, it undeniably reflects a form of pragmatism that the monarchy employs in managing public affairs and intelligently engaging with its various issues and developments. Keywords: power-sharing, agency theory, constitution, monarchy, head of government.
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