Abstract:International trading rules are undergoing significant changes that will reshape the future of trade in textiles and clothing. These changes include the abolishment of the quota system by 2005; China’s accession to the WTO; emergence of new tools of protectionism; growth of intra-regional trade within trading blocs; and the increasing role of global commodity chains. […]
Abstract:After decades of extensive use of protection to promote industrialization in developing countries, the tide has been reversed in recent years. Egypt is no exception. The paper addresses the questions: How far did trade liberalization go in Egypt? What is the impact of trade liberalization on protection in Egyptian industries over the past decade? And […]
Abstract:The slowdown of the Egyptian economy over the last few years and the floatation of the pound in January 2003 stimulated a debate over the effectiveness of monetary policy in activating the economy. This paper contributes to this debate by focusing on monetary policy transmission mechanisms and addressing the following questions: Was there a bubble […]
Abstract:Over the last 50 years, many developing countries have turned to tourism as a possible engine for economic growth and Egypt is no exception. However, despite its obvious economic benefits, tourism is generally considered a highly volatile industry that is prone to frequent internal and external shocks leading to downturns in activity.This paper examines the […]
Abstract:This paper aims at evaluating corporate governance rules, laws and standards in Egypt. It starts with a discussion on the concept and importance of corporate governance, followed by a review of the various aspects of the capital market, including the structure of the stock market, the legal and supervisory framework, registration requirements, and the ownership […]
Abstract:In response to increased global economic integration in recent decades, some countries took measures to align domestic incentives with the external environment, while others only made partial adjustments with a considerable time lag. This paper attempts to explain why reactions to changes in the external environment have been so varied. It traces the evolution of […]
Abstract:Merger and acquisition of banks could be for good or ill, depending on whether or not they promote competition and improve performance. This paper assesses the Egyptian experience over the past two decades and makes policy recommendations in light of international experience. It discusses the rationale for bank mergers and acquisitions and reviews their impact […]
Abstract: This paper reviews historical developments of monetary policy in Egypt over the last two decades and offers a new vision for the future. The analysis covers the monetary regime prior to the reforms of the early 1990s, as well as the post-reform era until now. The main features of the new monetary policy involve […]
Abstract: This paper assesses alternative strategies for achieving economic prosperity in Arab countries. The analysis considers not only shallow integration scenarios but also the scope for deeper integration through the coordination of regulatory procedures and the liberalization of barriers to trade in services.Using computable general equilibrium (CGE) models of Tunisia and Egypt to determine potential […]