The Economic Implications of the Prospective Free Trade Agreement Between the United States and Egypt PDF Download
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Author: Hoda El-Karaksy
Publisher:
ISBN:
Category : Electronic dissertations
Languages : en
Pages : 112
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Book Description
Abstract Egypt is a fairly large country with a struggling economy, like many others in the region. An improved economic performance in both Egypt and other countries in North Africa and the Middle East has the potential to raise the living standards of millions of people; this in turn could improve the region's political climate. Understanding how factors such as trade policy can affect Egypt is important for policy decisions in the US and Egypt. This issue is thus investigated in three essays that quantify the impact of a prospective bilateral Free Trade Agreement (FTA) between Egypt and the United States (US). In the first essay, I provide an econometric estimate of the effects of accessing the US market as well as the effects of Egyptian institutional quality on trade. I apply the gravity model to Egypt's trade flows for 2004 and find that the FTA could increase aggregate exports to the US between 140 and 157%. In the second essay, I examine the effects of participation in the FTA on the inward Foreign Direct Investment (FDI) to Egypt from the US and the rest of the world. I estimate gravity models of bilateral investment for 2005 and find evidence that this prospective FTA would be associated with a reduction of inward FDI to Egypt between 28% and 34% of the 2005 level. In the third essay, I investigate the current debate over US aid to Egypt, to identify whether participation in an FTA would be a complement or a substitute to US foreign aid. The analysis is based on a country-pair foreign aid difference regression model for 1980 and the years 2004 and 2007. The empirical evidence supports the complementary relationship between US foreign aid and this prospective FTA: The FTA would lead to increased foreign aid from the US to Egypt.
Author: Hoda El-Karaksy
Publisher:
ISBN:
Category : Electronic dissertations
Languages : en
Pages : 112
Get Book Here
Book Description
Abstract Egypt is a fairly large country with a struggling economy, like many others in the region. An improved economic performance in both Egypt and other countries in North Africa and the Middle East has the potential to raise the living standards of millions of people; this in turn could improve the region's political climate. Understanding how factors such as trade policy can affect Egypt is important for policy decisions in the US and Egypt. This issue is thus investigated in three essays that quantify the impact of a prospective bilateral Free Trade Agreement (FTA) between Egypt and the United States (US). In the first essay, I provide an econometric estimate of the effects of accessing the US market as well as the effects of Egyptian institutional quality on trade. I apply the gravity model to Egypt's trade flows for 2004 and find that the FTA could increase aggregate exports to the US between 140 and 157%. In the second essay, I examine the effects of participation in the FTA on the inward Foreign Direct Investment (FDI) to Egypt from the US and the rest of the world. I estimate gravity models of bilateral investment for 2005 and find evidence that this prospective FTA would be associated with a reduction of inward FDI to Egypt between 28% and 34% of the 2005 level. In the third essay, I investigate the current debate over US aid to Egypt, to identify whether participation in an FTA would be a complement or a substitute to US foreign aid. The analysis is based on a country-pair foreign aid difference regression model for 1980 and the years 2004 and 2007. The empirical evidence supports the complementary relationship between US foreign aid and this prospective FTA: The FTA would lead to increased foreign aid from the US to Egypt.
Author:
Publisher: Peterson Institute
ISBN: 9780881325898
Category : Egypt
Languages : en
Pages : 108
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Book Description
Considers the economic and political characteristics of Egypt as a potential FTA partner. This book examines the benefits and challenges in pursuing bilateral negotiations with Egypt, examines the Bush proposal for a regional arrangement, and assesses the impact of a prospective FTA on other trading partners and on the multilateral trading system.
Author: Ahmed Galal
Publisher: Brookings Institution Press
ISBN: 9780815723219
Category : Political Science
Languages : en
Pages : 146
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Book Description
In April 1997, Egyptian President Mubarak and U.S. Vice President Gore agreed to explore the possibility of creating a Free Trade Agreement (FTA) between Egypt and the United States. The very idea of such an agreement has been met by controversy and skepticism from critics in both countries. The authors of this book, however, believe that the case for considering an FTA between the U.S. and Egypt rests on solid economic and political grounds. An agreement could help promote Egyptian economic reform and growth, while providing substantial economic benefits to the U.S. Politically, it could strengthen American ties with an ally who plays a crucial role in helping to achieve peace in the region and in maintaining a stable supply of oil in the Middle East. This book offers U.S. and Egyptian policymakers answers to such pertinent questions as: What form should an FTA agreement take? Should it concentrate on border barriers or cover other aspects such as investments and services? What are the likely implications for both countries? And how will such an agreement affect the rest of the region? Its conclusions will be relevant to policymakers elsewhere in their pursuit of similar regional trade agreements. Copublished with the Egyptian Center for Economic Studies
Author: Robert Z. Lawrence
Publisher:
ISBN:
Category : Egypt
Languages : en
Pages : 48
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Book Description
Author: Ahmed Galal
Publisher:
ISBN:
Category : Egypt
Languages : en
Pages : 44
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Book Description
Author: Robert Z. Lawrence
Publisher: Peterson Institute
ISBN: 0881323969
Category : Business & Economics
Languages : en
Pages : 123
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Book Description
Would Free Trade Agreements (FTAs) between the nations of the Middle East and the United States be beneficial? What type of economic benefits could be expected? Since the FTA with Jordon was signed in October 2000, Jordanian exports to the US increased from $72.8 million in 2000 to a stunning $1.267 billion in 2005 and the exports were so large that the bilateral balance of trade shifted from a Jordanian deficit of $239 million in 2000 to a surplus of $624 million in 2005. Would other Middle Eastern countries derive similar benefits? Lawrence uses the Global Trade Analysis Project (GTAP) model of world trade and economic activity to analyze the expected trade and other economic impacts of the prospective FTA and to examine bilateral trade and investment flows, bilateral trade frictions, and implications of the prospective accords for the bilateral, regional, and global trade relations of the countries involved.
Author: Bernard M. Hoekman
Publisher:
ISBN:
Category : Egypt
Languages : en
Pages : 52
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Book Description
Author: Meredith Broadbent
Publisher:
ISBN:
Category : Egypt
Languages : en
Pages : 18
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Book Description
Egypt, a long-time ally with profound influence on U.S. security, is facing the daunting prospect of making the transition from decades of authoritarianism to democracy. The outcome of the complicated deliberations on the new government's makeup, quality, and policy orientation can be expected to consume the next several years, posing high risks, challenges, and opportunities for both Americans and Egyptians. Understandably, the natural tendency for the Obama administration and Congress in the face of such uncertainty is to retreat to the safety of a circumspect, more hesitant policy toward Egypt, as the United States watches and waits for all elections to conclude and for the political stripes of the new leaders to become known. A different path, discussed here, is to demonstrate support for Egyptians during this watershed transition. In the 1970s, when Egypt made a pivot away from the Soviet bloc and then another pivot toward peace with its neighbors, the United States showed its commitment with hundreds of millions of dollars in annual economic assistance to compliment more than a billion dollars in annual military aid. In this new era, the U.S. budget environment is dramatically more constrained. Yet the importance of influencing Egypt's transition to follow a positive course is no less important than it was four decades ago. Putting more emphasis on reciprocal economic relations, decisionmakers in the United States should consider a bold policy that (1) expresses unambiguous support for the strategic, aspirational goal of reengaging in free trade agreement (FTA) negotiations with the newly elected government of Egypt, as it works to chart its economic future; and (2) seeks consultations with Egyptians on the interim step of updating the existing bilateral investment treaty between the United States and Egypt.
Author: Barbara Kotschwar
Publisher: Peterson Institute
ISBN: 0881325805
Category : Egypt
Languages : en
Pages : 153
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Book Description
Author: Jeffrey J Schott
Publisher: Columbia University Press
ISBN: 0881324582
Category : Political Science
Languages : en
Pages : 468
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Book Description
In this conference volume, distinguished economists and trade policymakers address the US initiatives to enter into free trade negotiations with a broad range of countries in the Asia-Pacific region, the Western Hemisphere, and Africa. The sheer number of these initiatives is unprecedented and has provoked major policy questions concerning US interests in the negotiations, the setting of priorities among the many contenders for concluding free trade agreements (FTAs) with the United States, the objectives of those trading partners, and the implications that these agreements could have for broader initiatives such as the Doha Round in the World Trade Organization and the Free Trade Area of the Americas. The papers in the volume were presented during a conference on FTAs and US trade policy, sponsored by the Institute in May 2003. The editor, Jeffrey Schott, summarizes the policy implications drawn from the conference papers and discussions, which are organized around several topics: the conceptual case for FTAs and how they have worked in the past; what FTAs imply for the broader global system; the specific agreements that are already being pursued (Australia, Central America, Morocco, southern Africa) or considered (ASEAN, Brazil, Egypt, Korea, and Taiwan). The volume includes a technical appendix with results of GTAP and gravity model simulations of the trade and welfare effects of the prospective agreements.
