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 […]
Abstract:This paper explores the effectiveness of education and training programs in providing the human capital needed for economic development in Arab countries. It reviews educational attainment and the pattern of expenditures on education in these countries. Further, it assesses the rate of return on investment in education as well as the impact of education on […]
Abstract:This paper compares European Community (EC) ‘trade fundamentals’ that prevailed in the 1960s with those that apply in Arab countries today. These fundamentals differ significantly – Arab countries trade much less with each other than EC members did, and the importance of such trade in GDP varies greatly. This suggests that a viable Arab integration […]
Abstract:This paper starts by reviewing the population and labor migration record of the GCC. It then outlines four scenarios concerning the prospects of Arab worker migration to the region, and examines the factors that will shape the direction of the migration trends in the near to medium runs. It concludes that slow Arab out-migration over […]