Abstract:Despite repeated attempts at regional integration for half a century, Arab economic relations remain limited and compare unfavorably with other regional blocks. This paper attempts to identify the objective reasons for the slow progress on Arab integration in the past, with a view to offering suggestions for a better future.It shows that a lack of […]
Abstract: This paper analyzes Egypt’s experience in introducing private participation in airport activity, highlighting its strengths and weaknesses in light of international experiences. The study reviews airport privatization trends in developed and developing countries, the main methods of financing, and the changing role of the state in this activity. More importantly, the paper reviews the […]
Abstract:This paper discusses alternative policy options for dealing with the large variability in world cotton prices. It also evaluates the current price guarantee scheme in Egypt in terms of its impact on farmers, traders, the treasury and the economy at large. It concludes that Egypt is better off at this stage continuing with and reforming […]
Utility Regulation Versus BOT Schemes: An Assessment of Electricity Sector Reforms in Arab Countries
Abstract:This paper assesses two alternative approaches to private sector engagement in utilities, namely the Build Operate Transfer (BOT) and sector-wide reforms. The assessment draws on the new theory of regulatory contracts. The paper first evaluates the two approaches in terms of their effectiveness in dealing with the problems of information asymmetry, incentive compatibility and commitment. […]
Abstract:The aim of competition policy is to promote free and fair competition, to increase efficiency and productivity in the economy and promote enhanced consumer welfare. This paper provides an overview of the rationale and justification for having a competition regime, using the Australian experience as an example of how to implement and administer an effective […]
Abstract:This paper describes the recent evolution of macroeconomic policies in Egypt and derives a simple model (within an IS-LM framework) showing that, until the mid 1990s, the presence of liability dollarization and high passthrough from exchange rate to prices may have limited Egypt’s ability to conduct an independent monetary policy. However, the paper shows that […]
Abstract:This paper attempts to explain the rationale for competition policy in an emerging economy. It reviews the theoretical debate on the issue, highlighting the claims for and against the adoption of competition policy. The paper then discusses the difficulties facing an emerging economy in formulating competition policy and explores the reasons for the reluctance in […]
Abstract: This paper contributes to the ongoing debate about the impact of globalization on the economic well-being of citizens in the developing world. It begins with a brief history of the process of world integration over the past century or so, highlighting the differences between the current and previous episodes of globalization. The study then […]
This edition of the Business Barometer reports the results of a stratified sample of 200 public and private firms. The survey covers their assessment of economic growth and the results of their operations in terms of their production, sales, inventories, prices, wages, employment and investment over the first six months of 2001. It also summarizes […]
Abstract: Recent years have witnessed substantial changes in the composition of capital flows to developing countries, with FDI and equity flows playing an increasing role. Using a new cross- country dataset on external assets and liabilities, this paper discusses the implications of these trends for the level and composition of countries’ external positions, with particular […]