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
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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, 2007. "Economic Growth in Egypt: Constraints and Determinants," Journal of African Development, African Finance and Economic Association, vol. 9(1), pages 31-66.
- 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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