Publication:
Egypt beyond the Crisis : Medium-Term Challenges for Sustained Growth

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dc.contributor.authorSelim, Hoda
dc.contributor.authorHerrera, Santiago
dc.contributor.authorYoussef, Hoda
dc.contributor.authorZaki, Chahir
dc.date.accessioned2012-03-19T18:42:26Z
dc.date.available2012-03-19T18:42:26Z
dc.date.issued2010-10-01
dc.description.abstractThe paper analyzes the impact of the recent global crisis in the context of the previous two decades' growth and capital flows. Growth decomposition exercises show that Egyptian growth is driven mostly by capital accumulation. To estimate the share of labor in national income, the analysis adjusts the national accounts statistics to include the compensation of self-employed and non-paid family workers. Still, the share of labor, about 30 percent, is significantly lower than previously estimated. The authors estimate the output costs of the current crisis by comparing the output trajectory that would have prevailed without the crisis with the observed and revised gross domestic product projections for the medium term. The fall in private investment was the main driver of the output cost. Even if private investment recovers its pre-crisis levels, there is a permanent loss in gross domestic product per capita of about 2 percent with respect to the scenario without the crisis. The paper shows how the shock to investment is magnified due to the capital-intensive nature of the Egyptian economy: if the economy had the traditionally-used share of labor in income (40 percent), the output loss would have been reduced by half.en
dc.identifierhttp://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20101020092638
dc.identifier.doi10.1596/1813-9450-5451
dc.identifier.urihttps://hdl.handle.net/10986/3934
dc.languageEnglish
dc.relation.ispartofseriesPolicy Research working paper ; no. WPS 5451
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectACCESS TO FINANCE
dc.subjectACCOUNTING
dc.subjectAGGREGATE DEMAND
dc.subjectAGRICULTURE
dc.subjectBALANCE OF PAYMENTS
dc.subjectBALANCE SHEETS
dc.subjectBANK HOLDINGS
dc.subjectBANK POLICY
dc.subjectBANK PORTFOLIOS
dc.subjectBANKING SECTOR
dc.subjectBASIS POINTS
dc.subjectBENCHMARK
dc.subjectBONDS
dc.subjectBOOM-BUST CYCLE
dc.subjectBOOM-BUST CYCLES
dc.subjectBUDGET DEFICIT
dc.subjectBUSINESS CYCLE
dc.subjectBUSINESS CYCLES
dc.subjectCAPITAL ACCUMULATION
dc.subjectCAPITAL FLOWS
dc.subjectCAPITAL INFLOW
dc.subjectCAPITAL INFLOWS
dc.subjectCAPITAL INVESTMENT
dc.subjectCAPITAL MARKETS
dc.subjectCAPITAL OUTFLOW
dc.subjectCAPITAL OUTFLOWS
dc.subjectCAPITAL SHARE
dc.subjectCAPITAL SHARES
dc.subjectCAPITAL STOCK
dc.subjectCAPITAL STOCKS
dc.subjectCENTRAL BANK
dc.subjectCOMMERCIAL BANKS
dc.subjectCOMMODITY PRICES
dc.subjectCONSUMER PROTECTION
dc.subjectCONSUMPTION SMOOTHING
dc.subjectCORRUPTION
dc.subjectCURRENCY
dc.subjectCURRENCY ASSETS
dc.subjectCURRENT ACCOUNT DEFICIT
dc.subjectDEBT
dc.subjectDEBT HOLDINGS
dc.subjectDEBT RATIO
dc.subjectDEBT RATIOS
dc.subjectDEBT REDUCTION
dc.subjectDEBT SERVICE
dc.subjectDEBT SERVICING
dc.subjectDEFICIT FINANCING
dc.subjectDEFICITS
dc.subjectDEMAND FOR CREDIT
dc.subjectDEPOSIT
dc.subjectDEVELOPING COUNTRIES
dc.subjectDEVELOPMENT ECONOMICS
dc.subjectDEVELOPMENT POLICY
dc.subjectDOMESTIC CREDIT
dc.subjectDOMESTIC DEBT
dc.subjectDOMESTIC DEBT MARKETS
dc.subjectECONOMETRIC ANALYSIS
dc.subjectECONOMETRICS
dc.subjectECONOMIC DEVELOPMENT
dc.subjectECONOMIC GROWTH
dc.subjectECONOMIC OUTLOOK
dc.subjectECONOMIC PERFORMANCE
dc.subjectECONOMIC REFORM
dc.subjectECONOMIC REFORMS
dc.subjectECONOMIC RESEARCH
dc.subjectECONOMIC SECTORS
dc.subjectECONOMIC VALUE
dc.subjectELASTICITY
dc.subjectELASTICITY OF DEMAND
dc.subjectEMERGING ECONOMIES
dc.subjectEMERGING MARKET
dc.subjectEMERGING MARKETS
dc.subjectEXCESS LIQUIDITY
dc.subjectEXCHANGE RATE
dc.subjectEXPENDITURE
dc.subjectEXPENDITURES
dc.subjectEXPORT GROWTH
dc.subjectEXPORTER
dc.subjectEXPORTS
dc.subjectEXTERNAL CAPITAL
dc.subjectEXTERNAL DEBT
dc.subjectFEDERAL RESERVE
dc.subjectFEDERAL RESERVE BANK
dc.subjectFINANCIAL CRISES
dc.subjectFINANCIAL CRISIS
dc.subjectFINANCIAL DEVELOPMENT
dc.subjectFINANCIAL FLOWS
dc.subjectFINANCIAL INTERMEDIATION
dc.subjectFINANCIAL REFORMS
dc.subjectFINANCIAL SECTOR
dc.subjectFINANCIAL STRESS
dc.subjectFINANCIAL SYSTEM
dc.subjectFISCAL DEFICIT
dc.subjectFISCAL DEFICITS
dc.subjectFISCAL DISCIPLINE
dc.subjectFISCAL POLICY
dc.subjectFIXED CAPITAL
dc.subjectFORECASTS
dc.subjectFOREIGN CURRENCY
dc.subjectFOREIGN DIRECT INVESTMENT
dc.subjectFOREIGN EXCHANGE
dc.subjectFOREIGN EXCHANGE MARKET
dc.subjectFREE TRADE
dc.subjectGDP
dc.subjectGDP PER CAPITA
dc.subjectGLOBAL ECONOMY
dc.subjectGLOBAL FINANCIAL STABILITY
dc.subjectGOVERNMENT SPENDING
dc.subjectGROSS DOMESTIC PRODUCT
dc.subjectGROSS DOMESTIC PRODUCT PER CAPITA
dc.subjectGROSS FIXED CAPITAL FORMATION
dc.subjectGROWTH MODELS
dc.subjectGROWTH RATE
dc.subjectHOLDINGS
dc.subjectHOLDINGS OF GOVERNMENT SECURITIES
dc.subjectHOUSEHOLD INCOME
dc.subjectHUMAN CAPITAL
dc.subjectHUMAN DEVELOPMENT
dc.subjectINCOME LEVELS
dc.subjectINDEBTEDNESS
dc.subjectINFLATION
dc.subjectINFLATIONARY PRESSURES
dc.subjectINSURANCE
dc.subjectINTEREST RATE
dc.subjectINTEREST RATES
dc.subjectINTERNATIONAL BANK
dc.subjectINTERNATIONAL CAPITAL
dc.subjectINTERNATIONAL FINANCE
dc.subjectINTERNATIONAL STANDARDS
dc.subjectINTERNATIONAL TRADE
dc.subjectINVENTORIES
dc.subjectINVESTMENT CAPITAL
dc.subjectINVESTMENT CLIMATE
dc.subjectINVESTOR BASE
dc.subjectJOB CREATION
dc.subjectLABOR MARKET
dc.subjectLACK OF ACCESS
dc.subjectLACK OF COMPETITION
dc.subjectLENDING INTEREST RATE
dc.subjectLEVEL OF INTEREST RATES
dc.subjectLIMITED ACCESS
dc.subjectLIQUIDITY
dc.subjectLOCAL CURRENCY
dc.subjectLONG TERM CAPITAL
dc.subjectLONG-TERM COST
dc.subjectM2
dc.subjectMACROECONOMICS
dc.subjectMARGINAL PRODUCT
dc.subjectMARGINAL PRODUCTIVITY
dc.subjectMARKET CONCENTRATION
dc.subjectMARKET DETERMINATION
dc.subjectMARKETABLE DEBT
dc.subjectMARKETABLE SECURITIES
dc.subjectMATURITIES
dc.subjectMIDDLE INCOME COUNTRIES
dc.subjectMONETARY FUND
dc.subjectNATIONAL INCOME
dc.subjectNATIONAL SAVINGS
dc.subjectNET EXPORTS
dc.subjectOUTPUT LOSS
dc.subjectOUTPUT LOSSES
dc.subjectPHYSICAL CAPITAL
dc.subjectPOLICY RESPONSES
dc.subjectPOLITICAL ECONOMY
dc.subjectPORTFOLIO
dc.subjectPRIVATE CAPITAL
dc.subjectPRIVATE INVESTMENT
dc.subjectPRIVATE INVESTMENTS
dc.subjectPRIVATE SECTOR CREDIT
dc.subjectPRODUCTION COSTS
dc.subjectPRODUCTION FUNCTION
dc.subjectPRODUCTIVITY GROWTH
dc.subjectPUBLIC BANKS
dc.subjectPUBLIC DEBT
dc.subjectPUBLIC DEBT MANAGEMENT
dc.subjectPUBLIC FINANCES
dc.subjectPUBLIC INVESTMENT
dc.subjectPUBLIC SECTOR DEBT
dc.subjectPUBLIC SPENDING
dc.subjectPURCHASING POWER
dc.subjectRATE OF RETURN
dc.subjectRATES OF RETURN
dc.subjectREAL EXCHANGE RATE
dc.subjectREAL GDP
dc.subjectREAL INTEREST
dc.subjectREAL INTEREST RATES
dc.subjectRECESSION
dc.subjectRECESSIONS
dc.subjectREMITTANCES
dc.subjectRESERVE
dc.subjectRESERVE REQUIREMENT
dc.subjectRESERVE REQUIREMENTS
dc.subjectRESERVES
dc.subjectRETURNS
dc.subjectRISK AVERSION
dc.subjectSAFETY NETS
dc.subjectSAVINGS
dc.subjectSAVINGS RATE
dc.subjectSAVINGS RATES
dc.subjectSOCIAL WELFARE
dc.subjectSTOCK MARKET
dc.subjectSTOCKS
dc.subjectSTRUCTURAL CHANGE
dc.subjectT-BILL
dc.subjectT-BILLS
dc.subjectT-BONDS
dc.subjectTAX
dc.subjectTAX EXEMPTIONS
dc.subjectTAX RATES
dc.subjectTAXATION
dc.subjectTOTAL FACTOR PRODUCTIVITY
dc.subjectTOTAL FACTOR PRODUCTIVITY GROWTH
dc.subjectTRADE BALANCE
dc.subjectTRADE LIBERALIZATION
dc.subjectTRADE POLICY
dc.subjectTRADING
dc.subjectTROUGH
dc.subjectUNDERESTIMATES
dc.subjectUNEMPLOYMENT
dc.subjectUNEMPLOYMENT RATE
dc.subjectUNEMPLOYMENT RATES
dc.subjectVALUE ADDED
dc.subjectVARIABLE RATE
dc.subjectWAGES
dc.subjectWELFARE BENEFITS
dc.titleEgypt beyond the Crisis : Medium-Term Challenges for Sustained Growthen
dspace.entity.typePublication
okr.crossref.titleEgypt beyond the crisis: medium-term challenges for sustained growth
okr.date.disclosure2010-10-01
okr.date.doiregistration2025-04-10T11:39:09.424126Z
okr.doctypePublications & Research::Policy Research Working Paper
okr.docurlhttp://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20101020092638
okr.guid922851468037493542
okr.identifier.doi10.1596/1813-9450-5451
okr.identifier.externaldocumentum000158349_20101020092638
okr.identifier.internaldocumentum12883414
okr.identifier.reportWPS5451
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2010/10/20/000158349_20101020092638/Rendered/PDF/WPS5451.pdfen
okr.region.administrativeMiddle East and North Africa
okr.region.countryEgypt, Arab Republic of
okr.unitDevelopment Research Group (DECRG)
okr.volume1 of 1
relation.isAuthorOfPublicationb8257292-3111-5480-90dd-5aeb70e52589
relation.isAuthorOfPublication1dfab836-9f99-578a-8220-2946e712ebf8
relation.isAuthorOfPublication.latestForDiscovery1dfab836-9f99-578a-8220-2946e712ebf8
relation.isSeriesOfPublication26e071dc-b0bf-409c-b982-df2970295c87
relation.isSeriesOfPublication.latestForDiscovery26e071dc-b0bf-409c-b982-df2970295c87
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