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Interviews with former Prime Ministers and Cabinet Ministers along with previously unpublished analysis by the World Bank, IMF and USAID provide entertaining and interesting insights into Egypt's economic development policy during 1952 to 2000. Areas addressed include:
* the performance of the Egyptian economy since 1950s
* the factors that have facilitated or retarded economic performance
* the Egyptian authorities approach to economic issues and policy-making
* the chief questions that policy-makers will have to deal with in the next twenty years.
Set apart by Khalid Ikram’s intimate knowledge of the Egyptian policy-makers this book presents a unique account of economic development and policy-making in Egypt during 1952 to 2000.
- Sales Rank: #4936793 in Books
- Published on: 2004-11-29
- Released on: 2005-11-21
- Original language: English
- Number of items: 1
- Dimensions: 9.21" h x .85" w x 6.14" l, 1.17 pounds
- Binding: Paperback
- 376 pages
Review
Ikram examines the long-term structural aspects of Egypt’s economy and of economic policy-making from 1952 to 2000. He first presents separate chronological accounts of economic development and policy making on the one hand and growth, productivity, and structural change on the other. He then presents individual chapters focused on balance of payments, foreign exchange, and other aspects of the external sector; public finances; the financial sector and monetary policy; labor force and employment; and poverty and income distribution. He concludes with an analysis of current strategic and institutional issue. --Reference & Research Book News
About the Author
World Bank, USA
Most helpful customer reviews
6 of 6 people found the following review helpful.
Gold standard
By Keith Walker
The other reviewers have made the points that I would have liked to have made. I have read every significant book that has been written on the Egyptian economy in the last 20 years, and this is better than all of them. By skillfully combining acute technical analysis, the best available data, and insider knowledge of the thinking of international agencies and Egyptian policymakers, this book sets the standard by which all subsequent studies of the Egyptian economy will be judged.
5 of 5 people found the following review helpful.
Excellent, well written analysis
By James C. Hudson
This book examines the chief issues that Egyptian policymakers faced during the period starting with the Free Officers' revolution in July 1952 to the end of the Second Millenium (although there are occasional references to events up to 2002). The emphasis is on durable, structural issues, many of which continue to resonate with policymakers.
Readers looking for a detailed account of events on the lines of "this happened, then that happened" may be disappointed. Ikram's technique is to sketch out broad periods that shared major similarities and were largely affected by the same important economic events, eg, the period of the nationalizations and Arab socialism; the infitah or Open Door policy and the influx of oil revenues, worker remittances, foreign aid; the period of falling oil prices, squeezed resources, and major debt reschedulings; and the era of stabilization and the beginnings of significant structural reform, at least in the area of privatizing many of the public enterprises. He then examines the most important issues and questions that policymakers had to deal with during these periods. The emphasis is mainly on macroeconomic issues and policies. These are analyzed using tools of modern economic analysis, and supplemented by interviews with Egyptian policymakers (to see the compulsions that they were under) and from documents and discussions with representatives of the main providers of financial support to Egypt. A particularly fine chapter on what Egypt needs to do to sustain growth in the next 20 years or so rounds off the book.
The data in the book are more reliable than in any other study of the Egyptian economy, since Ikram has had continuous access to the data banks of the World Bank (the book's blurb says he is a former director of that organization), and of the International Monetary Fund. He also has had access to a considerable body of studies and other material from Egyptian ministries, the Central Bank of Egypt, and the Egyptian statistical agency. The book is written in a clear style, with a welcome touch of humor. In addition to appealing to students of Egypt and the Middle East, the book should provide excellent supplementary reading for courses in economic development and in economic policymaking.
This book is apparently the first in a new series from Routledge on Middle Eastern economies. It will be a very hard act to follow.
9 of 9 people found the following review helpful.
Outstanding study of Egyptian economy and policymaking
By Herbert J. Statham
In the 1980s, as a post-graduate student in Middle East studies, I read Khalid Ikram's earlier book Egypt: Economic Management in a Period of Transition (Johns Hopkins University Press). My Cambridge University professor described it as "outstanding." Now Ikram has written another outstanding work.
This book examines economic policymaking in Egypt in the period 1952 to 2000. The book focuses on the more durable issues that policymakers confronted during this period, rather than (to quote Ikram) "on a day to day chronology or on quotidian details." The issues are covered in chapters dealing with investment and productivity, the balance of payments, public finance, the capital market and monetary policy, the labor force and employment, and poverty and income distribution, in addition to three chapters that cover broader issues of political economy.
There is an excellent final chapter on what Egypt needs to do in order to sustain growth in the future, that, in addition to dealing with questions connected with an outward looking strategy provides an in-depth analysis of institutional issues, such as the bureaucracy, the commercial judicial system, the system of taxation, shortcomings in the provision of trained labor, the cost to the environment of economic growth, the constraints imposed by the availability of Nile water, and how the present system of planning and economic management is increasingly being hemmed in by globalization and privatization, and will probably have to be replaced by a more flexible method of indicative planning.
Ikram, a former Director of the World Bank's Egypt department, clearly enjoys unparalleled access to Egyptian policymakers, and the book contains insights from interviews with several Ministers responsible for economic policy. He also quotes from Cabinet studies, as well as from studies by the World Bank and the International Monetary Fund. The book is a veritable tour de force, and I recommend it highly to anyone interested in the development of Egypt and of the Middle East.
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