Abstract: There is growing consensus on the importance of investment as a determinant for economic growth. However, the relationship between public and private investment was and is still debatable in several developed and developing countries. The situation in Egypt is no exception. While some economists view public and private investments as competitive, others consider them […]
Abstract:This paper contributes to the ongoing debate about formalization in Egypt and makes the case for adopting reforms to integrate the informal sector into the mainstream economy. It first attempts to explain why Egyptian entrepreneurs choose to stay informal, and then assesses the likely welfare impact of formalization on different economic agents using a partial […]
Abstract:This paper analyzes the pension system in Egypt, with the purpose of making a set of proposals for reform, taking into account the interests of employees, pensioners, and the national economy. The paper finds that although the current pension system has many advantages and is not facing financial difficulties, there is a need to increase […]
Abstract:This paper assesses the effectiveness of Egypt’s budgetary institutions in achieving long-term fiscal sustainability in light of growing literature. The paper finds that while the budgetary process in Egypt is clearly-defined and its rules are closely followed, there is a need for several reforms. These include imposing limits on public expenditure, shifting from yearly to […]
Abstract:This paper reviews some key fiscal sustainability issues in developing and emerging countries. It concludes, first, that the discussion of fiscal sustainability should be focused on the consolidated state budget, including all present and future contingent claims. Second, it points out that the safe level of the net public debt-to-GDP ratio is lower in countries […]
Abstract:This paper surveys the recent literature on fiscal sustainability with particular focus on emerging market countries. It discusses the main elements that differentiate emerging market countries from industrial countries and then discusses how probabilistic models can help to evaluate fiscal sustainability in an uncertain environment. Based on this discussion, the paper uses Egypt to illustrate […]
Abstract:There is a broad recognition that civil service reforms in developing countries have been less than successful in the past, as they tended to focus on downsizing and procedural changes without radically changing the outmoded incentives system. Drawing on the incentives literature, this paper argues that the success of reforms in the future is conditional […]
Abstract:The purpose of this paper is threefold: (i) to assess the effectiveness, efficiency and equity of public expenditure on education, health and food subsidy programs in Egypt, (ii) to broadly analyze reform approaches of these sectors, and (iii) to make policy recommendations for Egypt accordingly. The paper shows that the Egyptian government is committed to […]
Abstract:This paper provides an overview of the channels through which the structure of public debt can affect macroeconomic performance. Its objective is to provide an analysis of factors influencing the optimal composition of the public debt, and to establish some general guidelines for public debt management in emerging economies.The paper offers several principles for managing […]
Abstract:This paper provides an assessment of concluding free trade agreements between Egypt and the US; and Morocco and the US. It starts with an analysis of what makes each pair of countries good candidates for concluding an FTA, followed by an estimation of the likely benefits to the parties involved. The paper concludes that an […]