This edition of the Business Barometer reports the results of a stratified sample of 200 large manufacturing and construction 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 2000. It also […]
Abstract: This paper adopts a comprehensive approach to assess the impact of foreign tourism on the Egyptian economy, which extends beyond their spending on hotels and restaurants. The study uses the economic impact analysis (EIA) methodology to trace direct and secondary effects of foreign tourists’ spending on output, value added, employment, and tax revenue. The […]
In the last six months of 1999, Egypt’s manufacturing sector showed an improvement in performance from the relatively stagnant years of 1998 and early 1999 Although industrial sales and production show a slight trend upwards, investment is not expected to rise in the next six months. This is due to the fact that producers must […]
Abstract: The Egyptian and Turkish governments are currently seeking to liberalize their regional trade and consolidate their power positions in the Middle East through the establishment of a free trade area. This proposal has triggered numerous questions that this paper attempts to discuss, namely: What is the Egyptian- Turkish free trade area expected to offer […]
Building on the success of the last two issues, the Barometer seeks to provide and analyze real-side economic data on the current state of Egypt’s industrial sector. For each issue, ECES conducts a survey of industrial firms in Egypt to evaluate their business and economic expectations for the coming six months
Abstract: Privatization is perceived as the cornerstone of Egypt’s economic reform program. This paper presents an overview of the challenges that the privatization program has encountered so far and means of tackling them. It discusses the political and legal constraints to privatization, taking into consideration the role of the different actors that are involved in […]
Abstract: The paper examines the behavior of stock returns in the Egyptian stock exchange, the efficiency of the market in pricing securities, and the relationship between returns and conditional volatility. GARCH(p,q)-M models estimated for the four best known daily indices indicate significant departures from the efficient market hypothesis; the tendency for returns to exhibit volatility […]
Abstract: This paper analyzes Egypt’s trade policy reforms since 1980 to evaluate the general openness of the economy. Changes in tariffs, additional taxes and subsidies, non-tariff barriers and the exchange rate system are surveyed as indicators of liberalization trends in the economy. The analysis extends beyond the status quo and considers the future of trade […]
Abstract: It is widely acknowledged that Egypt’s stabilization program has been highly successful. Stabilization, albeit necessary, is not sufficient to accelerate growth. Egypt needs to foster greater investment (including foreign direct investment) to achieve the envisaged high-growth scenario. While the tax burden is only a part of the investment climate, it plays a crucial role […]