IDEAS home Printed from https://ideas.repec.org/p/erg/wpaper/0211.html
   My bibliography  Save this paper

Egypt's Growth Performance Under Economic Liberalism: A Reassessment with New GDP Estimates, 1885-1945

Author

Listed:
  • Tarik M. Yousef

    () (Dubai School of Government)

Abstract

Following a period of rapid growth in the late 19th century, Egyptian real per capita income stagnated in the first half of the 20th century. This widely accepted belief is based on trends in agricultural productivity but a fragmented body of evidence on aggregate output. In particular, no estimates of national income exist for any extended period prior to WWII. Using a money- based cointegration approach and a new measure of broad money, we exploit Egypt's intimate economic links with the UK to provide the first continuous estimates of GDP for the period 1885-1945. Our estimates are consistent with trends in agriculture and other stylized facts about the Egyptian economy in the late 19th and first half of the 20th century. The empirical results provide support and some qualification to the conventional wisdom about Egypt's growth performance in addition to offering a detailed characterization of output cycles.

Suggested Citation

  • Tarik M. Yousef, 2002. "Egypt's Growth Performance Under Economic Liberalism: A Reassessment with New GDP Estimates, 1885-1945," Working Papers 0211, Economic Research Forum, revised 11 Apr 2002.
  • Handle: RePEc:erg:wpaper:0211
    as

    Download full text from publisher

    File URL: http://erf.org.eg/wp-content/uploads/2017/05/0211.pdf
    Download Restriction: no

    File URL: http://bit.ly/2qv07bz
    Download Restriction: no

    References listed on IDEAS

    as
    1. Osterwald-Lenum, Michael, 1992. "A Note with Quantiles of the Asymptotic Distribution of the Maximum Likelihood Cointegration Rank Test Statistics," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 54(3), pages 461-472, August.
    2. Paul A. Cashin, 1995. "Real Gdp In The Seven Colonies Of Australasia: 1861–1991," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 41(1), pages 19-39, March.
    3. Johansen, Soren, 1988. "Statistical analysis of cointegration vectors," Journal of Economic Dynamics and Control, Elsevier, vol. 12(2-3), pages 231-254.
    4. Hawke, G R, 1975. "Income Estimation from Monetary Data: Further Explorations," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 21(3), pages 301-307, September.
    5. Issawi, Charles, 1961. "Egypt Since 1800: A Study in Lop-sided Development," The Journal of Economic History, Cambridge University Press, vol. 21(01), pages 1-25, March.
    6. Keith Rankin, 1992. "New Zealand'S Gross National Product: 1859–1939," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 38(1), pages 49-69, March.
    7. Greasley, David & Oxley, Les, 2000. "Measuring New Zealand's GDP 1865-1933: A Cointegration-Based Approach," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 46(3), pages 351-368, September.
    Full references (including those not matched with items on IDEAS)

    Citations

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


    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.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    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:erg:wpaper:0211. 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: (Sherine Ghoneim). General contact details of provider: http://edirc.repec.org/data/erfaceg.html .

    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.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with 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.