Assessing The Performance Of Monetary Policy Under Economic Reform And Structural Adjustment Program: The Case Of Egypt
AbstractThis paper assesses the performance of monetary policy in Egypt during the periods following the introduction of economic reform and structural adjustment program (ERSAP). It sets out to answer the question: Why couldn’t the central bank of Egypt (CBE) achieve the goal of price stability under the ERSAP? The study compares economic performance as of the nineties decade with both its counterpart in Germany, during the same periods, and with the economic performance of the Egyptian economy during the periods before the nineties, i.e. 1975-1990. The study concluded that the CBE could bring the rate of inflation down nevertheless, the rate of growth of both unemployment and real GDP has been worsened and price stability still far reaching. The failure to achieve price stability is explained by two reasons, namely, a conflict between monetary policy objectives and a chronic budget deficit financed by issuing new money.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by Alexandru Ioan Cuza University, Faculty of Economics and Business Administration in its journal Review of Economic and Business Studies.
Volume (Year): (2011)
Issue (Month): 7 (May)
Monetary Policy in Egypt; Economic Reform; Monetary Policy Objectives;
Find related papers by JEL classification:
- E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
- E40 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - General
- E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
- E50 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - General
You can help add them by filling out this form.
reading list or among the top items on IDEAS.Access and download statisticsgeneral information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Sireteanu Napoleon-Alexandru).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.