Academic literature on the topic 'Egypt – Economic policy'

The focus of this research is concern about Egypt’s policy during the reign of Gamal Abdul Naseer (1952-1962 BC). this research aims to explain 1) Explaining Gamal Abdul Naseer policy in Egpyt. 2) Describing the impact of Gamal Abdul Naseer policy on the development of Egypt. The research choose qualitative method by using descriptive analysis on sociological politic approach as a subject which concentrates on power, government, and authority toward its citizens. The result demonstrated Nasser’s urge in order to improve the politic and economic sector in Egypt during his regime. Nasser initiated a system which supported the growth of political development and fiscal cooperation for improving Egypt as a nation. Nasser started the guided democracy system in Egypt. While in economic sector, Nasser’s goal was to develop industrialization as a solution of Egypt economic problems.

In the first half of the 1970s, Egypt turned away from the Soviet Union and initiated an economic open-door policy. Since then, the United States, the International Monetary Fund (IMF), and the World Bank have encouraged comprehensive reforms that would make Egypt an outward-looking market-oriented capitalist economy in which the private sector plays a dominant role. While the Egyptian economy had gone in that direction between 1974 and 1990, it had fallen far short of what they were looking for. In lengthy negotiations with the IMF, Egypt had, in spite of strong pressure, remained unwilling to implement many elements in this orthodox reform package. At the same time, most observers agreed that the government's own policies were not successful: living standards declined while the foreign debt grew rapidly, undermining the country's political independence. Analysts attributed this resistance to reform in the face of foreign pressure to a mix of domestic and foreign factors.

This paper studies the Spillover effect of US unconventional monetary policy (UMP) on Egypt as a case study of an emerging market and a small open economy The authors adopts structural vector autoregressive (SVAR) model with variable lag structure. The Wu and Xia (2016)’s shadow interest rate is used as a measure of U.S. unconventional monetary policy. In case of Egypt, we use Short Interest rate (r) as a measure of monetary policy rate; our empirical results reveal that US unconventional monetary policies significantly affect the monetary policy of Egypt but this effect is less on other macroeconomic variables. The main recommendation of the paper is that monetary authority in Egypt should take into consideration the conflict effect of US monetary policy on Egyptian economic indicators, and at the same time it should implement suitable policies coincide with it to achieve the economic stability and targeting inflation.

This thesis investigates the transmission mechanism of monetary policy in Egypt in the last four decades. To achieve this, five empirical studies are included in this thesis. The consumer‟s expenditure is estimated in Chapter 3, while the investment expenditure under uncertainty is estimated in Chapters 4. Furthermore, the results of these two chapters paved the way to the next chapters, the interest rate channel, chapter 5, and the bank lending channel, Chapter 6. Moreover, Chapter 7 devoted to estimate the exchange rate channel under the regime shift. However, Chapter 2 provides all the required discussion about the economic policies and developments in the Egyptian economy for the purpose of this thesis. The time series econometrics is used in all of these chapters. The unit root tests, the Engle-Ganger two-step cointegration approach, the bounds tests, and GARCH models are used in Chapters 3 and 4. However, unit root tests, the VAR models, Granger-causality, the impulse response function, variance decomposition, the Johansen‟s cointegration, and the VECM are used in Chapters 5, 6, and 7. The results of these chapters assert the existence of the channels of monetary transmission mechanism in Egypt between 1975 and 2010.

This thesis attempts to address the need for a clear strategy for the supply side in the Egyptian mortgage market. The thesis focuses for the first time on the issues in relation to the role of the bank and non-bank financial institutions in the creation of an effective and sustainable mortgage market that works better for low- and moderate-income households in Egypt as well as the role of these institutions after the mortgage market has reached a certain stage of development. The key research objectives are as follows: 1) to address why Egyptian housing co-operative societies can be seen as important policy agents to expand the mortgage credit beneficiaries base in Egypt; 2) to evaluate the effectiveness of the Egyptian housing co-operative societies as community based organisations and policy agents; 3) to identify and analyse the various economic, social and political factors influencing this effectiveness; 4) to assess the role of the banking institutions (as contextual stakeholders in the immediate environment of the Egyptian housing co-operative societies) in expanding access to mortgage credit and savings in Egypt; and 5) to identify which institutions constrain most the development of an effective and sustainable level of mortgage credit for low- and moderate-income households. In order to address these issues and objectives, the researcher reviewed the theoretical and empirical issues associated with the assessment of mortgage credit intermediation models to identify their reach and the limit of that reach and, implicitly, to examine what needs to be done to close the gap on what would be a more accessible mortgage market. Further, from 2008 to 2010, the researcher surveyed and interviewed a group of banking, co-operative and government officers in Cairo, Egypt. Questions regarding their attitudes towards housing policy and finance in Egypt were posed, especially in relation to the provision of mortgage credit in Egypt. The thesis found that Egyptian banking institutions, as agents in carrying out housing policies and finance, enabled the housing co-operative societies as stakeholders to form expectations towards the results of the new reforms with the same framework as they had done before. The survey and interviews showed that housing co-operative societies were dissatisfied with the expected results of recent reforms in the Egyptian housing and mortgage markets. It appears that resistance to the reforms was caused by the fact that housing co-operative societies were not interested. But the thesis found that the unfair distributive results associated with mortgage credit allocation were resented most by housing co-operative societies. Thus, the thesis concludes that to extend the reach of mortgage credit, there needs to be a wider strategy to reform the housing and mortgage markets in Egypt that includes strengthening the role of community institutions such as Egyptian housing co-operative societies based on well defined and structured stakeholder framework.

AbstractClusters for high-value crops are ubiquitous in China and in African countries. Drawing from three case studies (potato cluster in China, medicinal and aromatic cluster in Egypt, and dates cluster in Tunisia), this chapter discusses the major challenges facing cluster development and the roles of different agents (e.g., entrepreneurs, business associations, and local governments). Cluster development involves supply-side or demand-side bottlenecks along the way, which are beyond the capacity of individual enterprises. Whether a cluster can develop to the next stage depends crucially upon whether the bottlenecks can be resolved. Because the bottlenecks are context- and temporal-specific, it would be impossible for a planner or outsider donor to prescribe a one-size-fits-all intervention to overcome all the binding constraints. Instead, local elites, such as business leaders and local officials, can play a greater role in identifying the emerging bottlenecks and figuring out indigenous solutions. In China, because local governments have an embedded interest in promoting local economic development, they are keen to provide local public goods or initiate joint actions to address the successive binding constraints and facilitate cluster development. By comparison, the role of the local government is more muted in Africa, limiting the growth potential of agricultural clusters.

Economic difficulties manifested by the low GDP per capita, high unemployment, high rates of inflation, limited sources of foreign currency, mounting internal and external debts, and high subsidies have been facing Egypt for a long time. Despite the higher growth rates in Egypt in the first decade of the millennium, the persisting economic difficulties and political instability problems led to the 2011 uprising. Against expectations, the political instability, security issues, and unrest, which followed the uprising, and the world economic difficulties led to further deepening of the economic problems of Egypt due to the reduction in the limited sources of foreign currency and fragile economic structure. Egyptian dependence on income from remittances, the Suez Canal, and tourism as the main sources of foreign currency are inadequate. Egypt should diversify its economic activities by further engagements in the services sector, direct more effort to technological advances, and increase the added value to its products by empowering the large youth and educated population.

Emerging information technologies provide a solid and promising platform to support economic development. In that respect, the information and communication technology sector has been one of Egypt's strongest economic sectors with increasing prospects for job creation, productivity, scalability, impact, and growth. One of the subsets of ICT, the software industry, is gradually becoming more visible, stronger, and mature in terms of output and impact both locally and beyond. Software is arguably the best entry platform for developing nations, like Egypt, into the global ICT production complex. Local companies and startups in the software development space have started their operations over the last decade trying to capture a segment of the regional and global market opportunities. This chapter assesses the developments in the software industry in Egypt and the potential role it can play as a contributor to economic development through the establishment of an export-oriented outsourcing software industry capitalizing on one of Egypt's primary resources, human capital.

After the fifth enlargement of European Union in 2004 and with the expansion of European Unions borders and new neighbors, it became one of the important policies to provide security, stability and prosperity, and develop relationship between neighborhood countries. Although, enlargement process provide some opportunities to the member states of European Union, it brings about some difficulties. The differences at the life standards, environment, public health, prevention and combating organized crime between European Union and neighbor countries caused to create new policies. European Neighborhood Policy was launched in 2004, and consists of 16 countries, namely: Israel, Jordan, Moldova, Morocco, The Palestinian Authority, Tunisia, Ukraine, Armenia, Azerbaijan, Egypt, Georgia, Lebanon, Algeria, Syria, Libya and Belarus. European Union and the partner country sign the Partnership and Cooperation Agreements or Association Agreements, and then the Agreement Action Plans are mutually adapted. Action Plans include privileged relationship, mutual commitment to common values, democracy and human rights, legal and market economy principles, good governance, sustainable development, energy and transportation policies. Within the framework of European Neighborhood Policy, the main aim is to arrange the relationship between the neighbors of European Union. In this study, economic effects of the European Neighborhood Policy will be examined for the relevant countries.

This study examines the hypothesis of the Export-Led Growth in the seven selected Middle East and North Africa countries, the hypothesis state that export growth driven by export promotion policies enhances overall economic growth. Empirical investigations have tended to focus attention on the direction of causality between exports and economic growth using Granger causality tests. However, the empirical results based on these tests are, at best, mixed and often contradictory. The paper employs panel data analysis by utilizing the Pedroni panel cointegration, Pedroni Dynamic Ordinary Least Squares and Fully Modify Ordinary Least Squares, and Canning-Pedroni causality methods, a recent development in panel data econometrics, properties of integration and cointegration and consistency of parameters. The study considers the following three variables; Real Gross Domestic Product (GDP), Real exports (EXP) and Real import (IMP). Annual secondary data are obtained from the World Bank Development Indicator for seven MENA countries, Namely, Algeria, Egypt, Sudan, Jordan, Saudi Arabia, UAE, and Qatar. The empirical results emphasize the existence of a positive relationship between Export and GDP. Results of waled and Z-bar Group statistics indicate the long-run unidirectional causality between Export and GDP, operates from Export to the GDP. It confirms the validity of Export-led growth hypothesis of the seven selected MENA countries. Empirical evidence suggests significant policy prescriptions; these countries should focus more on supporting export orientated industries through aid-for-trade, trade-capacity building schemes and other types of policies in order to promote economic growth.

As noted in this monograph, marriage forms a central element of social life for Egyptians. Marriage in Egypt is nearly universal, and parents invest heavily to establish their children in married life. Once married, couples are faced with social pressures to begin childbearing immediately, a reflection of the high value placed on parenthood and children. But not all marriages begin with the same prospects for stability and satisfaction. This study draws attention to the problems faced by women who marry at very early ages in parts of rural Egypt. Despite a legal minimum age of 16, significant numbers of young girls marry below that age, and many experience social, emotional, and health-related difficulties. This study tells why these young women married early and how that decision affected their later life. The study points to areas where the aspirations of these girls have been clearly thwarted—to go to school, delay marriage, and postpone childbearing until they feel physically and psychologically ready. A related picture emerges of the social and economic forces that propel rural girls into marriage at very young ages. Each of these problems suggest areas for policy attention.

This report maps the African landscape of Open Science – with a focus on Open Data as a sub-set of Open Science. Data to inform the landscape study were collected through a variety of methods, including surveys, desk research, engagement with a community of practice, networking with stakeholders, participation in conferences, case study presentations, and workshops hosted. Although the majority of African countries (35 of 54) demonstrates commitment to science through its investment in research and development (R&D), academies of science, ministries of science and technology, policies, recognition of research, and participation in the Science Granting Councils Initiative (SGCI), the following countries demonstrate the highest commitment and political willingness to invest in science: Botswana, Ethiopia, Kenya, Senegal, South Africa, Tanzania, and Uganda. In addition to existing policies in Science, Technology and Innovation (STI), the following countries have made progress towards Open Data policies: Botswana, Kenya, Madagascar, Mauritius, South Africa and Uganda. Only two African countries (Kenya and South Africa) at this stage contribute 0.8% of its GDP (Gross Domestic Product) to R&D (Research and Development), which is the closest to the AU’s (African Union’s) suggested 1%. Countries such as Lesotho and Madagascar ranked as 0%, while the R&D expenditure for 24 African countries is unknown. In addition to this, science globally has become fully dependent on stable ICT (Information and Communication Technologies) infrastructure, which includes connectivity/bandwidth, high performance computing facilities and data services. This is especially applicable since countries globally are finding themselves in the midst of the 4th Industrial Revolution (4IR), which is not only “about” data, but which “is” data. According to an article1 by Alan Marcus (2015) (Senior Director, Head of Information Technology and Telecommunications Industries, World Economic Forum), “At its core, data represents a post-industrial opportunity. Its uses have unprecedented complexity, velocity and global reach. As digital communications become ubiquitous, data will rule in a world where nearly everyone and everything is connected in real time. That will require a highly reliable, secure and available infrastructure at its core, and innovation at the edge.” Every industry is affected as part of this revolution – also science. An important component of the digital transformation is “trust” – people must be able to trust that governments and all other industries (including the science sector), adequately handle and protect their data. This requires accountability on a global level, and digital industries must embrace the change and go for a higher standard of protection. “This will reassure consumers and citizens, benefitting the whole digital economy”, says Marcus. A stable and secure information and communication technologies (ICT) infrastructure – currently provided by the National Research and Education Networks (NRENs) – is key to advance collaboration in science. The AfricaConnect2 project (AfricaConnect (2012–2014) and AfricaConnect2 (2016–2018)) through establishing connectivity between National Research and Education Networks (NRENs), is planning to roll out AfricaConnect3 by the end of 2019. The concern however is that selected African governments (with the exception of a few countries such as South Africa, Mozambique, Ethiopia and others) have low awareness of the impact the Internet has today on all societal levels, how much ICT (and the 4th Industrial Revolution) have affected research, and the added value an NREN can bring to higher education and research in addressing the respective needs, which is far more complex than simply providing connectivity. Apart from more commitment and investment in R&D, African governments – to become and remain part of the 4th Industrial Revolution – have no option other than to acknowledge and commit to the role NRENs play in advancing science towards addressing the SDG (Sustainable Development Goals). For successful collaboration and direction, it is fundamental that policies within one country are aligned with one another. Alignment on continental level is crucial for the future Pan-African African Open Science Platform to be successful. Both the HIPSSA ((Harmonization of ICT Policies in Sub-Saharan Africa)3 project and WATRA (the West Africa Telecommunications Regulators Assembly)4, have made progress towards the regulation of the telecom sector, and in particular of bottlenecks which curb the development of competition among ISPs. A study under HIPSSA identified potential bottlenecks in access at an affordable price to the international capacity of submarine cables and suggested means and tools used by regulators to remedy them. Work on the recommended measures and making them operational continues in collaboration with WATRA. In addition to sufficient bandwidth and connectivity, high-performance computing facilities and services in support of data sharing are also required. The South African National Integrated Cyberinfrastructure System5 (NICIS) has made great progress in planning and setting up a cyberinfrastructure ecosystem in support of collaborative science and data sharing. The regional Southern African Development Community6 (SADC) Cyber-infrastructure Framework provides a valuable roadmap towards high-speed Internet, developing human capacity and skills in ICT technologies, high- performance computing and more. The following countries have been identified as having high-performance computing facilities, some as a result of the Square Kilometre Array7 (SKA) partnership: Botswana, Ghana, Kenya, Madagascar, Mozambique, Mauritius, Namibia, South Africa, Tunisia, and Zambia. More and more NRENs – especially the Level 6 NRENs 8 (Algeria, Egypt, Kenya, South Africa, and recently Zambia) – are exploring offering additional services; also in support of data sharing and transfer. The following NRENs already allow for running data-intensive applications and sharing of high-end computing assets, bio-modelling and computation on high-performance/ supercomputers: KENET (Kenya), TENET (South Africa), RENU (Uganda), ZAMREN (Zambia), EUN (Egypt) and ARN (Algeria). Fifteen higher education training institutions from eight African countries (Botswana, Benin, Kenya, Nigeria, Rwanda, South Africa, Sudan, and Tanzania) have been identified as offering formal courses on data science. In addition to formal degrees, a number of international short courses have been developed and free international online courses are also available as an option to build capacity and integrate as part of curricula. The small number of higher education or research intensive institutions offering data science is however insufficient, and there is a desperate need for more training in data science. The CODATA-RDA Schools of Research Data Science aim at addressing the continental need for foundational data skills across all disciplines, along with training conducted by The Carpentries 9 programme (specifically Data Carpentry 10 ). Thus far, CODATA-RDA schools in collaboration with AOSP, integrating content from Data Carpentry, were presented in Rwanda (in 2018), and during17-29 June 2019, in Ethiopia. Awareness regarding Open Science (including Open Data) is evident through the 12 Open Science-related Open Access/Open Data/Open Science declarations and agreements endorsed or signed by African governments; 200 Open Access journals from Africa registered on the Directory of Open Access Journals (DOAJ); 174 Open Access institutional research repositories registered on openDOAR (Directory of Open Access Repositories); 33 Open Access/Open Science policies registered on ROARMAP (Registry of Open Access Repository Mandates and Policies); 24 data repositories registered with the Registry of Data Repositories (re3data.org) (although the pilot project identified 66 research data repositories); and one data repository assigned the CoreTrustSeal. Although this is a start, far more needs to be done to align African data curation and research practices with global standards. Funding to conduct research remains a challenge. African researchers mostly fund their own research, and there are little incentives for them to make their research and accompanying data sets openly accessible. Funding and peer recognition, along with an enabling research environment conducive for research, are regarded as major incentives. The landscape report concludes with a number of concerns towards sharing research data openly, as well as challenges in terms of Open Data policy, ICT infrastructure supportive of data sharing, capacity building, lack of skills, and the need for incentives. Although great progress has been made in terms of Open Science and Open Data practices, more awareness needs to be created and further advocacy efforts are required for buy-in from African governments. A federated African Open Science Platform (AOSP) will not only encourage more collaboration among researchers in addressing the SDGs, but it will also benefit the many stakeholders identified as part of the pilot phase. The time is now, for governments in Africa, to acknowledge the important role of science in general, but specifically Open Science and Open Data, through developing and aligning the relevant policies, investing in an ICT infrastructure conducive for data sharing through committing funding to making NRENs financially sustainable, incentivising open research practices by scientists, and creating opportunities for more scientists and stakeholders across all disciplines to be trained in data management.