Abstract: After decades of state domination of economic activity, many governments around the world are increasingly relying on the private sector to foster economic growth. Starting from the premise that it takes a competitive business environment to ensure greater and more efficient private sector participation in economic growth, this paper assesses both the macro and […]
Abstract: This paper analyzes two problems with tax administration in Egypt: tax evasion and taxpayers’ high transaction costs in tax payment. The paper evaluates the magnitude of each problem in a comparative cross-country context. Empirical analysis suggests that tax evasion in Egypt is consistent, to a great extent, with the country’s economic and institutional conditions. […]
Abstract: Engendering capital market growth is essential to bring the Egyptian stock market out of its slump and ensure sustainable economic growth. A short-term plan should revive domestic and international demand for shares by controlling the supply of financial securities and enhancing the quality of issues. Pricing of shares, improving market capitalization and liquidity, enhancing […]
Abstract: The state of development of nonbank financial intermediaries (NBFIs) is a good indicator of the financial system’s development as a whole. NBFIs include all the financial institutions which are not classified as commercial banks. Such institutions have the common characteristic of mobilizing savings and facilitating the financing of different activities, but they do not […]
The results of the new ECES survey of industrial expectations, Industrial Barometer, paint a promising picture for the Egyptian manufacturing sector in the coming six months Most indicators of current business activity in the manufacturing sector, relative to the previous six months, reflect continued growth in the overall economy, with the public sector generally more […]
Abstract: Over a decade and half, the East Asian economies have experienced rapid economic growth. Nevertheless, such rapid growth and boom conditions masked economic weaknesses which remained hidden so long as the boom continued. With the external environment becoming less favorable, the competitiveness of those economies started to erode which resulted into the evolution of […]
Abstract: The rapid liberalization of Egypt’s financial sector demands maintaining the safety and stability of the banking system through prudential regulation. The justification for prudential regulation stems from the shortcomings of laissez-faire banking. Prudential policy generally seeks to prevent systemic risk, minimize financial instability, and ensure that financial intermediaries are adequately capitalized and professionally managed.Revolutionary […]
Abstract: Egypt’s efforts to liberalize its financial sector in the l990s have been impressive. Egyptian authorities have been successful in reversing more than three decades of interventionist policies. The fundamental building blocks of this liberalization process now seem solid. They include a reduced fiscal deficit, and the unification and freeing of exchange rates, interest rates, […]
Abstract: Financial markets can influence economic growth by improving productivity of capital, channeling investment to firms and increasing savings for greater capital accumulation. Because of asymmetric information, however, prudential regulation is necessary to ensure the stability of financial markets, particularly during financial liberalization. At times of liberalization, interest rate controls may be a potentially stabilizing […]
Abstract: This paper is concerned with gas pricing policies and begins by describing the unique characteristics of gas that influence the market and pricing. In Egypt, the upstream and downstream pricing of gas is based on the institutional system which governs the hydrocarbon industry and the multiplicity of objectives the government tries to achieve.The policy […]