Economic Growth in Egypt

El Beblawi, Hazem

Economic Growth in Egypt

Autores

El Beblawi, Hazem

Editor

World Bank, Washington, DC

Descripción

The paper focuses its analysis on the last three decades of the twentieth century. The basic assumption is that Egypt's economic performance during this period was less than satisfactory compared with the most successful examples in the far East and elsewhere. The paper also assumes that Egypt's initial conditions at midcentury compared favorably with the winners in the development race at the end of the century. Egypt has achieved positive progress, no doubt, yet compared with the higher performers in Asia, and given its favorable good initial conditions, the record seems quite mediocre. By mid-twentieth century, Egypt's agriculture had almost reached its limits. Egypt, therefore, faced a new challenge: a need to transform itself into an industrial society. This objective was only partially achieved. The paper identifies three interrelated factors that helped hinder Egypt's accession to a new industrial society. The first factor is a strong state and a weak society. An authoritarian state that in its endeavor to preserve its prerogatives had to give up good governance practices and limit the creative initiative of the individuals. The second factor is a semi-rentier economy. The availability of windfall revenues not only reduced the pressure for change but also promoted a new rentier mentality that undermined the emergence of an industrial spirit. The third factor is an inadequate education system. This system failed to provide the proper skills and values required for the industrial society. These factors, moreover, are interdependent and reinforce each other.

Palabras clave

ACCESS TO EDUCATION, ACCOUNTABILITY, ACCOUNTING, ADULT LITERACY, AGRICULTURAL DEVELOPMENT, AGRICULTURE PRODUCTION, APPROPRIATE TECHNOLOGY, BAD GOVERNANCE, BENEFICIARIES, BLACK MARKET, BLACK MARKETS, BOTH SEXES, BUDGET DEFICIT, BUREAUCRACY, CAPITAL FLOWS, CASH TRANSFERS, CENTRAL BANK, CENTRAL PLANNING, CIVIL CODE, CIVIL SOCIETY, CIVIL WAR, CLIMATE CHANGE, COLONIES, COMMODITY PRICES, CONSENSUS, CONSTITUTION, CONSUMER GOODS, CORRUPTION, CREDIBILITY, CREDITWORTHINESS, DEBT, DECISION MAKERS, DECISION-MAKING, DECISION-MAKING PROCESS, DEMOCRACY, DEMOCRATIZATION, DEVELOPING COUNTRIES, DEVELOPMENT BANK, DEVELOPMENT EFFORTS, DICTATORS, DIMINISHING RETURNS, DROPOUT, ECONOMIC BEHAVIOR, ECONOMIC DEVELOPMENT, ECONOMIC DEVELOPMENTS, ECONOMIC FREEDOM, ECONOMIC GROWTH, ECONOMIC LIBERALIZATION, ECONOMIC OPPORTUNITIES, ECONOMIC PERFORMANCE, ECONOMIC PROGRESS, ECONOMIC REFORMS, EMERGING MARKET, EMERGING MARKET ECONOMIES, ENERGY CONSUMPTION, EQUIPMENT, ERADICATION OF ILLITERACY, EXCHANGE OF INFORMATION, EXPLOITATION, EXPORTER, FEMALE EDUCATION, FINANCIAL ASSISTANCE, FINANCIAL BENEFITS, FINANCIAL CRISIS, FINANCIAL INFORMATION, FINANCIAL INSTITUTIONS, FINANCIAL RESOURCES, FINANCIAL STATEMENTS, FINANCIAL SUPPORT, FISCAL POLICIES, FLOW OF INFORMATION, FOREIGN AID, FOREIGN COMPETITION, FOREIGN DEBT, FOREIGN DIRECT INVESTMENT, FOREIGN EXCHANGE, FOREIGN EXCHANGES, FOREIGN INVESTORS, FOREIGN POLICY, FOREIGN TRADE, FRAUD, FREE PRESS, FUTURE GENERATIONS, GLOBALIZATION, GOOD GOVERNANCE, GOVERNANCE DEFICIT, GOVERNANCE INDICATOR, GOVERNANCE INDICATORS, GOVERNMENT DEPARTMENTS, GOVERNMENT EFFECTIVENESS, GOVERNMENT MANAGEMENT, GOVERNMENTAL DEPARTMENTS, GROWTH RATES, HEAD OF STATE, HOLDING, HOST COUNTRIES, HUMAN DEVELOPMENT, HUMAN RIGHTS, ILLITERACY, ILLITERATE POPULATION, IMMUNITY, IMPACT OF EDUCATION, IMPERIALISM, INCOME, INDEBTEDNESS, INDUSTRIAL REVOLUTION, INDUSTRIALIZATION, INFLATION, INSURANCE, INTERNATIONAL BANK, INTERNATIONAL DEVELOPMENT, INTERNATIONAL FINANCIAL INSTITUTIONS, INTERNATIONAL POLITICS, INTERNATIONAL TRADE, JUDICIAL SYSTEM, JUDICIARY, LACK OF TRANSPARENCY, LAND OWNERSHIP, LEGAL STATUS, LEGITIMACY, LEVEL OF EDUCATION, LIFE EXPECTANCY, LIQUID MONEY, LIQUIDITY, LOCAL AUTHORITIES, LOCAL CURRENCY, MALTHUSIAN TRAP, MARKET ECONOMIES, MARKET ECONOMY, MIGRANT, MIGRATION, MILITARY REGIME, MINISTERS, MINISTRY OF INFORMATION, MODERNIZATION, MONARCHY, MONETARY FUND, MULTILATERAL INSTITUTIONS, NATIONAL PRIORITIES, NATIONAL SECURITY, NATIONALIZATION, NATURAL GAS, NATURAL RESOURCE, NATURAL RESOURCES, NEWBORN, NUTRITION, OIL, OIL PRICE, OIL PRICES, OIL RESOURCES, OPEC, OPEN DOOR, PARLIAMENT, POLICY MAKERS, POLITICAL ACCOUNTABILITY, POLITICAL DECISION, POLITICAL ELITE, POLITICAL INSTABILITY, POLITICAL PARTIES, POLITICAL POWER, POLITICAL STABILITY, POLITICAL SYSTEM, POLITICIANS, POOR PERFORMANCE, POPULAR SUPPORT, POPULATION DENSITIES, POPULATION GROWTH, POPULATION PROBLEM, PORTFOLIO, PRACTITIONERS, PRIMARY SCHOOL, PRIME MINISTER, PRIVATE SCHOOLS, PRIVATE SECTOR PARTICIPATION, PRODUCERS, PROGRESS, PROPAGANDA, PROPERTY RIGHTS, PUBLIC DEBT, PUBLIC DEBTS, PUBLIC OPINION, PUBLIC SECTOR, PUBLIC SECTOR BANKS, PUBLIC SERVICES, PUBLIC WELFARE, QUALITY EDUCATION, QUALITY OF EDUCATION, QUANTITATIVE INDICATORS, RADIO, RATE OF GROWTH, RATES OF GROWTH, RATIONALIZATION, REAL EXCHANGE RATE, RECIPIENT COUNTRY, REGULATORY QUALITY, REMITTANCES, REPRESENTATIVES, REPUBLICS, RESERVES, RESOURCE CURSE, RESPECT, RULE OF LAW, SCHOOL ENROLMENT, SECONDARY SCHOOL, SECONDARY SCHOOLS, SECURITIES, SEX, SMALL SAVERS, SOCIAL COMMISSION, SOCIAL STATUS, SOCIALISM, SOCIOECONOMIC STATUS, SOVEREIGNTY, SPOT MARKETS, SUSTAINABLE ECONOMIC GROWTH, TAXATION, TELEVISION, TERRORIST, TRADE UNIONS, TRADING, TRANSPARENCY, TRUST FUNDS, WORKING CAPITAL