Economic Growth in Egypt: Constraints and Determinants
AbstractEgypt accelerated its ongoing transition from a public sector dominated economy to a private sector led and market oriented economy after the collapse of oil prices in the mid-1980s. Some aspects of the economy, such as trade policy, have been substantially transformed since then whereas other aspects, such as public control of the financial sector, have experienced less change in substance. We examine some determinants of growth in Egypt since the mid-1980s using insights from both standard econometric techniques and a diagnostic approach proposed by Hausmann, Rodrik and Velasco (2004). We find that trends in government consumption, credit to the private sector and the average growth rate of OECD countries have been significant determinants of growth in Egypt in the past. We also present evidence that suggests that inefficiency of financial intermediation is a significant current constraint on growth.
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Bibliographic InfoPaper provided by EconWPA in its series Development and Comp Systems with number 0512024.
Length: 36 pages
Date of creation: 26 Dec 2005
Date of revision:
Note: Type of Document - pdf; pages: 36
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Economic growth; Egypt; growth diagnostic; binding constraint; financial intermediation;
Other versions of this item:
- Anton Dobronogov & Farrukh Iqbal, 2004. "Economic Growth in Egypt: Constraints and Determinants," Working Papers 0420, Economic Research Forum, revised Oct 2004.
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- Juliane Brach, 2008. "Constraints to Economic Development and Growth in the Middle East and North Africa," GIGA Working Paper Series 85, GIGA German Institute of Global and Area Studies.
- World Bank, 2007. "Arab Republic of Egypt : Poverty Assessment Update, Volume 1. Main Report," World Bank Other Operational Studies 7642, The World Bank.
- Kamal, Mona, 2013. "Financial Development and Economic Growth in Egypt: A Re-investigation," MPRA Paper 48564, University Library of Munich, Germany.
- Klaus-Stefan Enders, 2007. "Egypt--Searching for Binding Constraints on Growth," IMF Working Papers 07/57, International Monetary Fund.
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