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 […]
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 […]