Egypt - Development Policy Review
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Washington, DC
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This development policy review finds
ample evidence that Egypt has prospered as a consequence of
giving the economy a greater market orientation. While
favorable global conditions have helped, the structural
changes over the last two decades have been an essential
ingredient for Egypt's success. Productivity has risen
more in segments of the economy where the private sector s
share in investment and output grew most. Empirical
estimates done for this report suggest that each dollar of
private investment contributed four times more to output
than a dollar of public investment, reflecting in part the
poor choice and maintenance of public investment.
Consequently, further increases in output, incomes and
productivity may be expected from the recently rising share
of private investment in the total. Public sector
productivity has also increased in recent years, reflecting
in part the increased importance of state owned firms in
petroleum and natural gas. Egypt's economic growth is
also now more closely correlated with that of the
Organization for Economic Co-operation and Development
countries magnified by a factor of 1.25, and volatility has
declined. This results from many links, not just the direct
effect of oil and gas.
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ACCESS TO BANKS, ACCESS TO INFORMATION, ACCOUNTING, ADVERSE EFFECTS, AGRICULTURAL OUTPUT, AGRICULTURE, ALLOCATION OF CREDIT, BAILOUTS, BANK DEPOSITS, BANK GUARANTEE, BANK INTERMEDIATION, BANK LENDING, BANKING DEPOSITS, BANKING SUPERVISION, BANKING SYSTEM, BANKRUPTCIES, BANKRUPTCY, BENEFICIARIES, BENEFICIARY, BID, BUDGET CONSTRAINT, BUDGET DEFICIT, BUSINESS CLIMATE, BUSINESS CYCLES, CAPITAL FLOWS, CAPITAL INFLOWS, CAPITAL MARKET, CAPITAL MARKETS, CAPITAL STOCK, CASH TRANSFERS, CENTRAL BANK, CLEAN WATER, COMPETITIVE AUCTIONS, COMPETITIVE BIDDING, CONSUMER DURABLES, CONSUMER PRICE INDEX, CONSUMER PROTECTION, CONTINGENT DEBTS, CONTINGENT LIABILITIES, CONTROLLED PRICES, CREDIT CULTURE, CREDIT FLOWS, CREDIT OUTSTANDING, CREDITOR, CREDITOR BANKS, CURRENCY, CURRENCY DEPRECIATION, CURRENCY DEVALUATION, DEBT, DEBTORS, DECENTRALIZATION, DECISION MAKING, DEFLATORS, DEMOGRAPHIC, DEPOSIT, DEPOSITS, DEVELOPING COUNTRIES, DEVELOPMENT BANK, DEVELOPMENT POLICIES, DEVELOPMENT POLICY, DIRECT ACCESS, DOMESTIC DEBTS, DOMESTIC PRICES, ECONOMIC DEVELOPMENT, ECONOMIC GROWTH, ECONOMIC POLICIES, ECONOMIC REFORM, ECONOMIC RESEARCH, ECONOMIC STRUCTURE, ECONOMIC THEORY, ELASTICITY, EQUIPMENT, EQUITY HOLDINGS, EQUITY MARKET, EQUITY STAKES, EXCHANGE RATE, EXCHANGE RATES, EXPENDITURES, EXPORT MARKETS, EXPORTS, EXTERNAL DEBT, EXTERNALITY, EXTREME POVERTY, FACTORS OF PRODUCTION, FINANCE CORPORATION, FINANCES, FINANCIAL ASSETS, FINANCIAL MANAGEMENT, FINANCIAL SECTOR, FINANCIAL TRANSACTIONS, FISCAL DEFICIT, FISCAL POLICIES, FLOW OF FUNDS, FOOD PRICES, FOREIGN ASSETS, FOREIGN CURRENCY, FOREIGN DIRECT INVESTMENT, FOREIGN EXCHANGE, FOREIGN EXCHANGE MARKET, FOREIGN EXCHANGE RESERVES, FOREIGN INVESTORS, FREE RIDER, FREE RIDER PROBLEM, FUTURE GROWTH, GDP, GDP DEFLATOR, GDP PER CAPITA, GINI COEFFICIENT, GLOBAL ECONOMY, GLOBAL FINANCIAL MARKETS, GOVERNANCE INDICATORS, GOVERNMENT BORROWING, GOVERNMENT BUDGET, GOVERNMENT DEFICIT, GOVERNMENT EXPENDITURE, GOVERNMENT FINANCE, GOVERNMENT GUARANTEES, GOVERNMENT PAPER, GOVERNMENT POLICIES, GOVERNMENT REVENUES, GOVERNMENT SPENDING, GROWTH RATES, HOLDING, HOLDING COMPANIES, HOLDING COMPANY, HOUSEHOLD SAVINGS, HOUSEHOLD WEALTH, HUMAN CAPITAL, HUMAN DEVELOPMENT, INCOME TAX, INCOMES, INEFFICIENCY, INFLATION, INFLATIONARY PRESSURES, INFRASTRUCTURE INVESTMENTS, INSURANCE, INTEREST RATE, INTEREST RATES, INTERNAL AUDITS, INTERNATIONAL DEVELOPMENT, INTERNATIONAL FINANCIAL INSTITUTIONS, INTERNATIONAL FINANCIAL MARKETS, INTERNATIONAL STANDARDS, INVESTMENT ALLOCATION, INVESTMENT BANK, INVESTMENT CLIMATE, INVESTMENT FLOWS, INVESTMENT RATE, INVESTOR INTEREST, JOINT VENTURE, LABOR MARKET, LAND HOLDINGS, LEASE PAYMENTS, LENDERS, LIFE EXPECTANCY, LIQUIDITY, LIVING STANDARDS, LOAN, LOCAL CURRENCY, LOW INTEREST RATES, M2, MARGINAL COST, MARKET ECONOMY, MATURITIES, MBI, MERGERS, MISMANAGEMENT, MONEY SUPPLY, MUTUAL FUNDS, NATIONAL INVESTMENT, NATIONAL SAVINGS, OIL PRICES, OPEN ECONOMIES, OPEN ECONOMY, OUTSTANDING DOMESTIC DEBT, OUTSTANDING STOCK, PENSION, PENSION REFORMS, PENSION SYSTEM, PENSIONS, PERSONAL INCOME, POVERTY ALLEVIATION, PRIVATE ENTITY, PRIVATE FINANCING, PRIVATE INVESTMENT, PRIVATE INVESTMENTS, PRIVATIZATION, PRODUCTION FUNCTION, PRODUCTIVITY, PRODUCTIVITY INCREASES, PUBLIC DEBT, PUBLIC INVESTMENT, PUBLIC INVESTMENTS, PUBLIC SPENDING, RATES OF RETURN, REAL ESTATE, REAL GDP, REAL INTEREST, REAL INTEREST RATES, REGIONAL TRADE, REMITTANCE, REMITTANCES, REMOTE AREAS, RESERVE, RETURNS, RISE IN INFLATION, SAFETY NET, SOCIAL FUND, SOCIAL SAFETY NET, STATE BANK, STATE BANKS, STOCK EXCHANGE, STRUCTURAL CHANGE, SYSTEMIC RISKS, TAX, TAX RATES, TAX REVENUES, TOTAL FACTOR PRODUCTIVITY, TRADE REFORMS, TRADES, TRADING, TRANSPARENCY, TREASURY, UNEMPLOYMENT, UNEMPLOYMENT RATE, VALUE ADDED, VOLATILITY, WAGES, WHOLESALE PRICE INDEX, WORLD ECONOMY