Distinguished Lectures

Achieving Rapid Growth: The Road Ahead for Egypt

Publication Number: ECES-DLS3-E&A

July, 1996

Author : Jeffrey Sachs

Type : Distinguished Lectures

Why settle for slow growth when you can have fast growth instead? In this publication, Jeffrey Sachs, one of the world's most visible and dynamic economists, offers developing countries a coherent reform strategy to achieve rapid growth. Sachs illustrates how and why state-led industrialization, once the favored strategy of much of the developing world- including Egypt- evolved as a post-colonial ideology and ultimately proved to be an economic liability that the developing world can no longer afford. By contrasting the performance of closed, state-led economies with open, market-based ones, he argues that state-led industrialization failed to deliver the goods. He identifies the common features of fast-growing economies and plots a course to help Egypt find its own road to sustained economic growth.