Economic Growth in Egypt: Constraints and Determinants

Anton Dobronogov () and Farrukh Iqbal

No 420, Working Papers from Economic Research Forum

Abstract: Egypt accelerated its ongoing transition from a public sector dominated economy to a private sector led and market oriented economy after the collapse of oil prices in the mid-1980s. Some aspects of the economy, such as trade policy, have been substantially transformed since then whereas other aspects, such as public control of the financial sector, have experienced less change in substance. We examine some determinants of growth in Egypt since the mid-1980s using insights from both standard econometric techniques and a diagnostic approach proposed by Hausmann, Rodrik and Velasco (2004). We find that trends in government consumption, credit to the private sector and the average growth rate of OECD countries have been significant determinants of growth in Egypt in the past. We also present evidence that suggests that inefficiency of financial intermediation is a significant current constraint on growth.

Pages: 26 pages
Date: 2004-07-10, Revised 2004-07-10
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Citations: View citations in EconPapers (1)

Published by The Economic Research Forum (ERF)

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Related works:
Journal Article: Economic Growth in Egypt: Constraints and Determinants (2007)
Working Paper: Economic Growth in Egypt: Constraints and Determinants (2005)
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