Political Violence and Excess Liquidity in Egypt: A Note

David Fielding and Anja Shortland ()

No 02/5, Discussion Papers in Economics from Division of Economics, School of Business, University of Leicester

Abstract: In this paper we estimate a time-series model of excess liquidity in the Egyptian banking sector. While financial liberalization and financial stability are found to have reduced excess liquidity, these effects have been offset by an increase in the number of violent political incidents arising from conflict between radical Islamic groups and the Egyptian state. The link between political events and financial outcomes provides a rationale for economic policy interventions by the international community in response to increases in political instability.

Keywords: Egypt; Excess Liquidity; Political Violence; Radical Islamism (search for similar items in EconPapers)
JEL-codes: G21 O16 (search for similar items in EconPapers)
Date: 2002-04
New Economics Papers: this item is included in nep-afr
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