This paper draws some lessons for the Egyptian economy from recent crisis episodes in Latin America and East Asia. Egypt is striving to achieve higher sustainable growth rates to increase the welfare of its population. Opening up the capital account presents both opportunities and dangers. Recent experience has shown that opening up would allow the economy to benefit from capital inflows but would also expose it to their volatility, with sudden adverse consequences to economic activity, employment, income and monetary stability.
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Paper provided by Economic Research Forum in its series Papers with number
9820.
Find related papers by JEL classification: P41 - Economic Systems - - Other Economic Systems - - - Planning, Coordination, and Reform F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics O11 - Economic Development, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development O16 - Economic Development, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment