Economic Growth in Egypt : Impediments and Constraints (1974-2004)

Economic Growth in Egypt : Impediments and Constraints (1974-2004)

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 Ea...

Full description

Bibliographic Details
Main Author:	El Beblawi, Hazem
Format:	Working Paper
Language:	English en_US
Published:	World Bank, Washington, DC 2017
Subjects:	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
Online Access:	http://documents.worldbank.org/curated/en/457861468024586289/Economic-growth-in-Egypt-impediments-and-constraints-1974-2004 http://hdl.handle.net/10986/28047

Description
Summary:	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.