IDEAS home Printed from
   My bibliography  Save this article

Egypt's Growth Performance under Economic Liberalism: A Reassessment with New GDP Estimates, 1886-1945


  • Yousef, Tarik M


The stagnation of Egyptian living standards in the first half of the 20th century has been widely presumed in economic history. However, this conventional wisdom is partially based on a fragmented body of evidence on aggregate output. In particular, no estimates of national income exist for any extended period prior to World War II. Using a money-based cointegration approach and a new measure of broad money, we exploit Egypt's intimate economic links with the U.K. to provide the first continuous estimates of GDP for the period 1886-1945. Our estimates are consistent with trends in agriculture and other stylized facts about the Egyptian economy in the late 19th and early 20th century. The empirical results provide qualified support to the conventional wisdom about Egypt's growth performance in addition to offering a detailed characterization of output cycles. Copyright 2002 by The International Association for Research in Income and Wealth.

Suggested Citation

  • Yousef, Tarik M, 2002. "Egypt's Growth Performance under Economic Liberalism: A Reassessment with New GDP Estimates, 1886-1945," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 48(4), pages 561-579, December.
  • Handle: RePEc:bla:revinw:v:48:y:2002:i:4:p:561-79

    Download full text from publisher

    File URL:
    File Function: link to full text
    Download Restriction: Access to full text is restricted to subscribers.

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    1. Singh, S K & Maddala, G S, 1976. "A Function for Size Distribution of Incomes," Econometrica, Econometric Society, vol. 44(5), pages 963-970, September.
    2. Yitzhaki, Shlomo, 1983. "On an Extension of the Gini Inequality Index," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 24(3), pages 617-628, October.
    3. Lerman, Robert I. & Yitzhaki, Shlomo, 1989. "Improving the accuracy of estimates of Gini coefficients," Journal of Econometrics, Elsevier, vol. 42(1), pages 43-47, September.
    Full references (including those not matched with items on IDEAS)


    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.

    Cited by:

    1. Prados de la Escosura, Leandro, 2013. "Human development in Africa: A long-run perspective," Explorations in Economic History, Elsevier, vol. 50(2), pages 179-204.
    2. Michael Tomz & Mark L. J. Wright, 2007. "Do Countries Default in "Bad Times" ?," Journal of the European Economic Association, MIT Press, vol. 5(2-3), pages 352-360, 04-05.
    3. Van Leeuwen, Bas & van Leeuwen-Li, Jieli & Foldvari, Peter, 2012. "Education as a driver of income inequality in twentieth-century Africa," MPRA Paper 43574, University Library of Munich, Germany.

    More about this item


    Access and download statistics


    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:revinw:v:48:y:2002:i:4:p:561-79. See general 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: (Wiley-Blackwell Digital Licensing) or (Christopher F. Baum). General contact details of provider: .

    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.

    We have no references for this item. You can help adding them by using 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 RePEc Author Service 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.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.