Capital flows to Egypt under the financial globalization This paper analyzes the financial globalization and the factors which accelerate this phenomenon. It also touched on its benefits and risks. Then it moves to analysis the capital flows in Egypt, trends and components. The results indicate that the Egypt's share in both of the international capital flows and the capital flows to the middle east dropped dramatically, reaching .08% and minus 43% in 2001 compared with 0.15% and 22.2% in 1997.As a reflection, the capital flows components declined. The flows of the FDI decreased to $ 647 million in 2002 compared with $ 1.1 billion in 2000.Moreover, the inflows of portfolio investment turned into out flows in FY 2002/2003 ,reaching $405.2 million compared with $1.5 billion in FY 96/97 . On the other hand, the external debt to GDP ratio increased from 28.2% in FY 1999/2000 to 43.7% in july/sept. of 2003/2004.Finally, the paper recommended a number of axes to maximize the capital flows to Egypt under the acceleration of the financial globalization phenomenon now a days and at the future.
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