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Trade and Foreign Exchange Regime in Egypt

Author

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  • Hanaa Kheir-El-Din

    (Department of Economics, Faculty of Economics and Political Science, Cairo University)

  • Sherine El-Shawarby

Abstract

The objective of this paper is to examine the most important components of foreign trade policy in Egypt: the tariff structure, non-tariff barriers (NTBs) and the exchange rate policy. With the intent of assessing the policies? likely impacts on Egyptian export competitiveness the paper also focuses on distortions resulting from these policies. The study found that since 1991, Egypt has taken serious steps towards trade liberalization through a series of corrective measures aimed at accelerating the reduction in the height as well as in the variance of tariff rates, phasing out most of NTBs on imports as well as on exports, reducing other types of NTBs, providing export incentives, and simplifying the exchange rate system. However, substantial reforms are still required if satisfactory export-led growth is to be attained and sustained in the long-run. Trade policy in Egypt is not the only determinant of trade performance or of the pattern of resource allocation. Performance is also still controlled by various government regulations and interventions and by institutional, legislative, political, and social considerations. Awareness of the need to reform on various economic and non-economic fronts would be an important step toward the potential overall improvement in competitiveness.

Suggested Citation

  • Hanaa Kheir-El-Din & Sherine El-Shawarby, 2000. "Trade and Foreign Exchange Regime in Egypt," Working Papers 2034, Economic Research Forum, revised 11 Sep 2000.
    • Handle: RePEc:erg:wpaper:2034
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    References listed on IDEAS

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    1. Guillermo A. Calvo & Leonardo Leiderman & Carmen M. Reinhart, 1993. "Capital Inflows and Real Exchange Rate Appreciation in Latin America: The Role of External Factors," IMF Staff Papers, Palgrave Macmillan, vol. 40(1), pages 108-151, March.
    2. Mr. Joannes Mongardini, 1998. "Estimating Egypt’s Equilibrium Real Exchange Rate," IMF Working Papers 1998/005, International Monetary Fund.
    3. Jonathan Ikoba & Akorlie A. Nyatepe-Coo & Oluwole Owoye, 1996. "The Effects of Domestic Policies and External Factors on the Real Exchange Rate and Economic Performance in Sub-Saharan Africa," The American Economist, Sage Publications, vol. 40(1), pages 92-103, March.
    4. Deardorff, Alan V., 1987. "Why do governments prefer nontariff barriers?," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 26(1), pages 191-216, January.
    5. Greenaway, David, 1989. "Commercial Policy and Policy Conflict: An Evaluation of the Incidence of Protection in a Non-industrialized Economy," The Manchester School of Economic & Social Studies, University of Manchester, vol. 57(2), pages 125-141, June.
    6. Corbo, Vittorio & Hernandez, Leonardo, 1996. "Macroeconomic Adjustment to Capital Inflows: Lessons from Recent Latin American and East Asian Experience," The World Bank Research Observer, World Bank, vol. 11(1), pages 61-85, February.
    7. Vousden,Neil, 1990. "The Economics of Trade Protection," Cambridge Books, Cambridge University Press, number 9780521346696.
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    Cited by:

    1. Fouad Abou-Stait, 2005. "Working Paper 76 - Are Exports the Engine of Economic Growth? An Application of Cointegration and Causality Analysis for Egypt, 1977 - 2003," Working Paper Series 211, African Development Bank.

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