Empirical Analysis of Corporate Savings in Egypt
This paper presents empirical analysis of corporate savings in Egypt using two datasets: a survey of small and medium enterprises and data from accounting statements for the largest publicly traded firms. There are two main findings. First, larger...
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| Format: | Policy Research Working Paper |
| Language: | English |
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2012
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| Online Access: | http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20110413172716 http://hdl.handle.net/10986/3400 |
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okr-10986-34002021-04-23T14:02:09Z Empirical Analysis of Corporate Savings in Egypt Love, Inessa ACCESS TO CREDIT ACCESS TO EXTERNAL FINANCE ACCESS TO FINANCE ACCESS TO FINANCIAL SERVICES ACCESS TO FINANCING ACCOUNTING ACCOUNTS RECEIVABLE ACCOUNTS RECEIVABLES AFFILIATED ORGANIZATIONS ASYMMETRIC INFORMATION AVAILABILITY OF FINANCE BALANCE SHEET BALANCE SHEETS BANKS BENCHMARK BONDS BOOK VALUE BOOK VALUES BUSINESS ENVIRONMENT CAPITAL RATIO CAPITAL RATIOS CASH BALANCES CASH EXPENSE CASH FLOW CASH FLOWS CASH HOLDINGS COMPETITIVENESS CORPORATE SAVINGS COST OF CAPITAL CREDIBILITY CREDIT PRODUCTS DEBT DEBT LEVEL DEBT LEVELS DEBT OBLIGATIONS DECISION MAKING DEVELOPING COUNTRIES DEVELOPMENT POLICY DISINVESTMENT DIVIDEND DIVIDENDS DUMMY VARIABLES EARNINGS EMPLOYEE EQUIPMENT EQUIPMENT PURCHASES EQUITY HOLDERS EXCHANGE RATE EXPORTER EXPORTERS EXTERNAL FINANCE EXTERNAL FUNDS FINANCE ACCESS FINANCE CONSTRAINTS FINANCIAL ACCESS FINANCIAL ASSETS FINANCIAL CRISIS FINANCIAL PRODUCT FINANCIAL PRODUCTS FINANCIAL SAVINGS FINANCIAL SYSTEM FINANCING ACCESS FINANCING NEEDS FINANCING OBSTACLES FIXED ASSETS FIXED CAPITAL FLOW OF FUNDS FOREIGN FIRMS FOREIGN OWNERSHIP FUTURE CASH FLOWS FUTURE GROWTH FUTURE GROWTH OPPORTUNITIES GDP GENDER GOVERNMENT OWNERSHIP GOVERNMENT PAPER GOVERNMENT SAVINGS GREATER ACCESS GROSS MARGIN GROSS VALUE GROWTH OPPORTUNITIES GROWTH OPPORTUNITY GROWTH POTENTIAL HOLDING HOLDING COMPANIES HOLDINGS HOUSEHOLD SAVINGS INCOME INCOME VOLATILITY INDUSTRIAL COUNTRIES INFLATION INTEREST EXPENSE INTEREST PAYMENTS INTEREST RATE INTEREST RATES INTERNAL FINANCE INTERNAL FUNDS INTERNAL SAVINGS INTERNATIONAL BANK INTERNATIONAL MARKETS INVENTORIES INVENTORY INVESTMENT BEHAVIOR INVESTMENT CLIMATE INVESTMENT CLIMATE ASSESSMENT INVESTMENT FINANCE INVESTMENT OPPORTUNITIES INVESTMENT OPPORTUNITY INVESTMENT PROJECTS INVESTMENT PURPOSES LACK OF ACCESS LIABILITY LIABILITY SIDE LIQUID ASSETS LOAN LOAN APPLICATION LONG TERM DEBT MACROECONOMIC UNCERTAINTY MACROECONOMIC VOLATILITY MANUFACTURING INDUSTRY MARKETABLE SECURITIES NET VALUE OUTPUTS OUTSIDE INVESTORS OVERDRAFT OVERHEAD COSTS PHYSICAL ASSETS POLITICAL UNCERTAINTY PREFERENTIAL ACCESS PRIVATE SECTOR DEVELOPMENT PRODUCTIVE ASSETS PRODUCTIVE INVESTMENT PRODUCTIVITY PROFITABILITY PUBLIC POLICY RAPID GROWTH REGRESSION ANALYSIS REGULATORY POLICY RETAINED EARNINGS RETURN RETURN ON ASSETS ROA ROE SALES GROWTH SALES REVENUES SAVINGS SAVINGS ACCOUNT SAVINGS ACCOUNTS SECURITIES SHAREHOLDER SHAREHOLDERS SHORT TERM DEBT STATEMENT STATEMENTS STOCK EXCHANGE STOCK HOLDERS STOCKS TOTAL DEBT TOTAL FACTOR PRODUCTIVITY WAGES WORKING CAPITAL This paper presents empirical analysis of corporate savings in Egypt using two datasets: a survey of small and medium enterprises and data from accounting statements for the largest publicly traded firms. There are two main findings. First, larger firms invest more (they have more physical saving) and have greater access to finance than smaller firms. Second, despite the financial deepening, the use of credit products has been declining during the past decade. The study reaffirms the importance of improving access to financial services in Egypt and points out the need for more research. In addition, policies aimed at reducing macroeconomic volatility are likely to result in increased investment and growth in Egypt. 2012-03-19T18:01:48Z 2012-03-19T18:01:48Z 2011-04-01 http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20110413172716 http://hdl.handle.net/10986/3400 English Policy Research working paper ; no. WPS 5634 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Publications & Research :: Policy Research Working Paper Middle East and North Africa Egypt, Arab Republic of |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English |
| topic |
ACCESS TO CREDIT ACCESS TO EXTERNAL FINANCE ACCESS TO FINANCE ACCESS TO FINANCIAL SERVICES ACCESS TO FINANCING ACCOUNTING ACCOUNTS RECEIVABLE ACCOUNTS RECEIVABLES AFFILIATED ORGANIZATIONS ASYMMETRIC INFORMATION AVAILABILITY OF FINANCE BALANCE SHEET BALANCE SHEETS BANKS BENCHMARK BONDS BOOK VALUE BOOK VALUES BUSINESS ENVIRONMENT CAPITAL RATIO CAPITAL RATIOS CASH BALANCES CASH EXPENSE CASH FLOW CASH FLOWS CASH HOLDINGS COMPETITIVENESS CORPORATE SAVINGS COST OF CAPITAL CREDIBILITY CREDIT PRODUCTS DEBT DEBT LEVEL DEBT LEVELS DEBT OBLIGATIONS DECISION MAKING DEVELOPING COUNTRIES DEVELOPMENT POLICY DISINVESTMENT DIVIDEND DIVIDENDS DUMMY VARIABLES EARNINGS EMPLOYEE EQUIPMENT EQUIPMENT PURCHASES EQUITY HOLDERS EXCHANGE RATE EXPORTER EXPORTERS EXTERNAL FINANCE EXTERNAL FUNDS FINANCE ACCESS FINANCE CONSTRAINTS FINANCIAL ACCESS FINANCIAL ASSETS FINANCIAL CRISIS FINANCIAL PRODUCT FINANCIAL PRODUCTS FINANCIAL SAVINGS FINANCIAL SYSTEM FINANCING ACCESS FINANCING NEEDS FINANCING OBSTACLES FIXED ASSETS FIXED CAPITAL FLOW OF FUNDS FOREIGN FIRMS FOREIGN OWNERSHIP FUTURE CASH FLOWS FUTURE GROWTH FUTURE GROWTH OPPORTUNITIES GDP GENDER GOVERNMENT OWNERSHIP GOVERNMENT PAPER GOVERNMENT SAVINGS GREATER ACCESS GROSS MARGIN GROSS VALUE GROWTH OPPORTUNITIES GROWTH OPPORTUNITY GROWTH POTENTIAL HOLDING HOLDING COMPANIES HOLDINGS HOUSEHOLD SAVINGS INCOME INCOME VOLATILITY INDUSTRIAL COUNTRIES INFLATION INTEREST EXPENSE INTEREST PAYMENTS INTEREST RATE INTEREST RATES INTERNAL FINANCE INTERNAL FUNDS INTERNAL SAVINGS INTERNATIONAL BANK INTERNATIONAL MARKETS INVENTORIES INVENTORY INVESTMENT BEHAVIOR INVESTMENT CLIMATE INVESTMENT CLIMATE ASSESSMENT INVESTMENT FINANCE INVESTMENT OPPORTUNITIES INVESTMENT OPPORTUNITY INVESTMENT PROJECTS INVESTMENT PURPOSES LACK OF ACCESS LIABILITY LIABILITY SIDE LIQUID ASSETS LOAN LOAN APPLICATION LONG TERM DEBT MACROECONOMIC UNCERTAINTY MACROECONOMIC VOLATILITY MANUFACTURING INDUSTRY MARKETABLE SECURITIES NET VALUE OUTPUTS OUTSIDE INVESTORS OVERDRAFT OVERHEAD COSTS PHYSICAL ASSETS POLITICAL UNCERTAINTY PREFERENTIAL ACCESS PRIVATE SECTOR DEVELOPMENT PRODUCTIVE ASSETS PRODUCTIVE INVESTMENT PRODUCTIVITY PROFITABILITY PUBLIC POLICY RAPID GROWTH REGRESSION ANALYSIS REGULATORY POLICY RETAINED EARNINGS RETURN RETURN ON ASSETS ROA ROE SALES GROWTH SALES REVENUES SAVINGS SAVINGS ACCOUNT SAVINGS ACCOUNTS SECURITIES SHAREHOLDER SHAREHOLDERS SHORT TERM DEBT STATEMENT STATEMENTS STOCK EXCHANGE STOCK HOLDERS STOCKS TOTAL DEBT TOTAL FACTOR PRODUCTIVITY WAGES WORKING CAPITAL |
| spellingShingle |
ACCESS TO CREDIT ACCESS TO EXTERNAL FINANCE ACCESS TO FINANCE ACCESS TO FINANCIAL SERVICES ACCESS TO FINANCING ACCOUNTING ACCOUNTS RECEIVABLE ACCOUNTS RECEIVABLES AFFILIATED ORGANIZATIONS ASYMMETRIC INFORMATION AVAILABILITY OF FINANCE BALANCE SHEET BALANCE SHEETS BANKS BENCHMARK BONDS BOOK VALUE BOOK VALUES BUSINESS ENVIRONMENT CAPITAL RATIO CAPITAL RATIOS CASH BALANCES CASH EXPENSE CASH FLOW CASH FLOWS CASH HOLDINGS COMPETITIVENESS CORPORATE SAVINGS COST OF CAPITAL CREDIBILITY CREDIT PRODUCTS DEBT DEBT LEVEL DEBT LEVELS DEBT OBLIGATIONS DECISION MAKING DEVELOPING COUNTRIES DEVELOPMENT POLICY DISINVESTMENT DIVIDEND DIVIDENDS DUMMY VARIABLES EARNINGS EMPLOYEE EQUIPMENT EQUIPMENT PURCHASES EQUITY HOLDERS EXCHANGE RATE EXPORTER EXPORTERS EXTERNAL FINANCE EXTERNAL FUNDS FINANCE ACCESS FINANCE CONSTRAINTS FINANCIAL ACCESS FINANCIAL ASSETS FINANCIAL CRISIS FINANCIAL PRODUCT FINANCIAL PRODUCTS FINANCIAL SAVINGS FINANCIAL SYSTEM FINANCING ACCESS FINANCING NEEDS FINANCING OBSTACLES FIXED ASSETS FIXED CAPITAL FLOW OF FUNDS FOREIGN FIRMS FOREIGN OWNERSHIP FUTURE CASH FLOWS FUTURE GROWTH FUTURE GROWTH OPPORTUNITIES GDP GENDER GOVERNMENT OWNERSHIP GOVERNMENT PAPER GOVERNMENT SAVINGS GREATER ACCESS GROSS MARGIN GROSS VALUE GROWTH OPPORTUNITIES GROWTH OPPORTUNITY GROWTH POTENTIAL HOLDING HOLDING COMPANIES HOLDINGS HOUSEHOLD SAVINGS INCOME INCOME VOLATILITY INDUSTRIAL COUNTRIES INFLATION INTEREST EXPENSE INTEREST PAYMENTS INTEREST RATE INTEREST RATES INTERNAL FINANCE INTERNAL FUNDS INTERNAL SAVINGS INTERNATIONAL BANK INTERNATIONAL MARKETS INVENTORIES INVENTORY INVESTMENT BEHAVIOR INVESTMENT CLIMATE INVESTMENT CLIMATE ASSESSMENT INVESTMENT FINANCE INVESTMENT OPPORTUNITIES INVESTMENT OPPORTUNITY INVESTMENT PROJECTS INVESTMENT PURPOSES LACK OF ACCESS LIABILITY LIABILITY SIDE LIQUID ASSETS LOAN LOAN APPLICATION LONG TERM DEBT MACROECONOMIC UNCERTAINTY MACROECONOMIC VOLATILITY MANUFACTURING INDUSTRY MARKETABLE SECURITIES NET VALUE OUTPUTS OUTSIDE INVESTORS OVERDRAFT OVERHEAD COSTS PHYSICAL ASSETS POLITICAL UNCERTAINTY PREFERENTIAL ACCESS PRIVATE SECTOR DEVELOPMENT PRODUCTIVE ASSETS PRODUCTIVE INVESTMENT PRODUCTIVITY PROFITABILITY PUBLIC POLICY RAPID GROWTH REGRESSION ANALYSIS REGULATORY POLICY RETAINED EARNINGS RETURN RETURN ON ASSETS ROA ROE SALES GROWTH SALES REVENUES SAVINGS SAVINGS ACCOUNT SAVINGS ACCOUNTS SECURITIES SHAREHOLDER SHAREHOLDERS SHORT TERM DEBT STATEMENT STATEMENTS STOCK EXCHANGE STOCK HOLDERS STOCKS TOTAL DEBT TOTAL FACTOR PRODUCTIVITY WAGES WORKING CAPITAL Love, Inessa Empirical Analysis of Corporate Savings in Egypt |
| geographic_facet |
Middle East and North Africa Egypt, Arab Republic of |
| relation |
Policy Research working paper ; no. WPS 5634 |
| description |
This paper presents empirical analysis
of corporate savings in Egypt using two datasets: a survey
of small and medium enterprises and data from accounting
statements for the largest publicly traded firms. There are
two main findings. First, larger firms invest more (they
have more physical saving) and have greater access to
finance than smaller firms. Second, despite the financial
deepening, the use of credit products has been declining
during the past decade. The study reaffirms the importance
of improving access to financial services in Egypt and
points out the need for more research. In addition,
policies aimed at reducing macroeconomic volatility are
likely to result in increased investment and growth in Egypt. |
| format |
Publications & Research :: Policy Research Working Paper |
| author |
Love, Inessa |
| author_facet |
Love, Inessa |
| author_sort |
Love, Inessa |
| title |
Empirical Analysis of Corporate Savings in Egypt |
| title_short |
Empirical Analysis of Corporate Savings in Egypt |
| title_full |
Empirical Analysis of Corporate Savings in Egypt |
| title_fullStr |
Empirical Analysis of Corporate Savings in Egypt |
| title_full_unstemmed |
Empirical Analysis of Corporate Savings in Egypt |
| title_sort |
empirical analysis of corporate savings in egypt |
| publishDate |
2012 |
| url |
http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20110413172716 http://hdl.handle.net/10986/3400 |
| _version_ |
1764386922733502464 |