The political economy of reforms in Egypt : issues and policymaking since 1952 / Khalid Ikram.

Includes bibliographies and index.

What are the long-term structural features of the Egyptian economy? What are the factors that have facilitated or inhibited its performance? This crucial and timely work answers these questions and more by examining the most important economic decisions to have impacted the Egyptian economy since 1952 and the political factors behind them. Drawing on Khalid Ikram's extensive knowledge of economic policymaking at the highest levels, The Political Economy of Reforms in Egypt lays out the enduring features of the Egyptian economy and its performance since 1952 before presenting an account of policy-making, growth and structural change under the country's successive presidents to the present day. Topics covered include agrarian reforms; the Aswan High Dam; the move towards Arab socialism and a planned economy; the reversal of strategy and the infitah; fiscal, monetary, and exchange-rate policies; consumer subsidies; external debt crises; negotiations between Egypt and international donors and financial institutions; privatization; labor and employment; and poverty and income distribution. The analysis concludes with an examination of institutional reforms and development strategies to tackle the Egyptian economy's structural problems and lay the foundation for sustained and rapid growth. Written from the point of view of a 'participant-observer, ' this book will be indispensable to students of political economy, to scholars of Egypt and the Middle East, and to the general reader who wishes to understand, especially from the wealth of insider information provided, how domestic and international politics and economics can interact to shape decisions that promote, or prevent, economic reforms.

Intro -- Half Title Page -- Title Page -- Copyright -- Dedication -- Contents -- List of Figures and Tables -- Preface -- Acknowledgments -- Abbreviations -- Introduction -- The Importance of Economic Health -- Some Conclusions -- 1 The Political Economy of Reform: A Survey with Special Reference to Egypt -- Interest Groups, Crises, and Economic Reforms -- Military and Economic Crises -- Political Institutions and Policy Reform -- "Tragedy of the Commons" and the Impact on the Environment -- The Costs and Benefits of Policy Reforms -- The "Insider-Outsider" Conundrum

Political Economy and Dictatorships -- The Role of the Foreign Patron -- The Political Economy of External Assistance -- Donors' Views -- Foreign Aid to Egypt: Benefit or Bane? -- 2 Challenges and Performance, 1952- -- Economic Growth -- Population, Labor Force, and Unemployment -- Structure of Employment -- Public Finance -- Poverty -- Income Distribution -- The External Sector -- External Debt -- Annex: A Note on GDP Estimates -- 3 The Population and Related Issues -- 4 Political Economy in the Nasser Period, 1952- -- Agrarian Reforms -- The Cultivable Area: Water and the Aswan High Dam

Changes in the Role of the State in the Economy -- Industrial Development -- Elements of a Summing Up -- 5 Political Economy in the Sadat Period, 1970- -- Economic Background to the Infitah -- The Infitah -- Pressures on the Economy and the Riots of -- Relations with the IMF and the World Bank -- Toward a Strategy to Address Underlying Grievances -- 6 Political Economy in the Mubarak Period, 1981- -- Overall Performance -- Mubarak's Philosophy of Political Economy of Reform -- External Debt Issues -- Economic Reform and Structural Adjustment Program (ERSAP) -- Crony Capitalism

Developments, 2000- -- 7 After Mubarak, 2011- -- A Brief Review of the Political Timeline -- Mohammed Morsi: June 30, 2012-July 3, -- Abd al-Fattah al-Sisi -- Political Instability and Economic Growth -- Economic Performance, 2011- -- Sustainable Development Strategy: Vision -- From Vision to Realization -- 8 The Task Ahead -- What Is the General Challenge for Egypt's Policymakers? -- What Strategies Would Help to Meet Egypt's Development Challenges? -- GDP Growth and Its Drivers -- Economic Governance -- Annex -- Notes -- References

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