The Effect of Remittances on Egypt's Economic Growth PDF Download
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Author: Samar Amr Naga
Publisher:
ISBN:
Category : Economic development
Languages : en
Pages : 178
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Book Description
Abstract: This paper tests the relationship between remittances along with other macroeconomic variables such as; investment, FDI and openness to trade and GDP per capita. In order to test this relationship, this study has depended on Multiple Linear Regression Model in which time series analysis of the annual data about the variables from 1977 until 2013 is used. The results extracted from the model have shown that there is a strong positive and significant relationship between investment and GDP per capita. Besides, the results have showed that there is a strong positive and significant relationship between openness to trade and GDP per capita. However, the results have showed that there is a negative significant relationship between FDI and GDP per capita. Moreover, the findings have revealed that there is insignificant positive relationship between remittances and GDP per capita. Given the insignificant effect between remittances and economic growth, we have decided in this paper to use the data from the empirical survey done by the (IOM) in collaboration with the Ministry of Manpower and Migration on 200 remittance- receiving households for two main reasons. One of reasons is to identify the cause behind having this insignificant effect between the two pre-stated variables. The second reason is to demonstrate to the Government the importance of getting benefit of these international surveys to know how the remittances are used in the meantime from households' perspective as well to demonstrate the variables that households perceive as critical and significant variables that could affect their decision to invest in the country. Finally, in this paper, we have showed case studies of how other countries have succeeded to encourage its migrants to transfer more money to be invested in productive projects. The main aim of showing these case studies is to give the Egyptian government a guideline of what are the policies and procedures it could follow to overcome the obstacles and the variables seen by the households as critical variables hindering their investment in Egypt.
Author: Samar Amr Naga
Publisher:
ISBN:
Category : Economic development
Languages : en
Pages : 178
Get Book Here
Book Description
Abstract: This paper tests the relationship between remittances along with other macroeconomic variables such as; investment, FDI and openness to trade and GDP per capita. In order to test this relationship, this study has depended on Multiple Linear Regression Model in which time series analysis of the annual data about the variables from 1977 until 2013 is used. The results extracted from the model have shown that there is a strong positive and significant relationship between investment and GDP per capita. Besides, the results have showed that there is a strong positive and significant relationship between openness to trade and GDP per capita. However, the results have showed that there is a negative significant relationship between FDI and GDP per capita. Moreover, the findings have revealed that there is insignificant positive relationship between remittances and GDP per capita. Given the insignificant effect between remittances and economic growth, we have decided in this paper to use the data from the empirical survey done by the (IOM) in collaboration with the Ministry of Manpower and Migration on 200 remittance- receiving households for two main reasons. One of reasons is to identify the cause behind having this insignificant effect between the two pre-stated variables. The second reason is to demonstrate to the Government the importance of getting benefit of these international surveys to know how the remittances are used in the meantime from households' perspective as well to demonstrate the variables that households perceive as critical and significant variables that could affect their decision to invest in the country. Finally, in this paper, we have showed case studies of how other countries have succeeded to encourage its migrants to transfer more money to be invested in productive projects. The main aim of showing these case studies is to give the Egyptian government a guideline of what are the policies and procedures it could follow to overcome the obstacles and the variables seen by the households as critical variables hindering their investment in Egypt.
Author: Breisinger, Clemens
Publisher: Intl Food Policy Res Inst
ISBN:
Category : Political Science
Languages : en
Pages : 6
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Book Description
Egypt’s recent economic success will almost certainly be interrupted by the COVID-19 pandemic. We examine the likely impact on the Egyptian economy of a significant reduction in tourism, payments received from the Suez Canal, and remittances from Egyptians working abroad because of the slowdown in the global economy due to the COVID-19 virus. Our results suggest that COVID-19 could reduce national GDP by between 0.7 and 0.8 percent (EGP 36 to 41 billion) for each month that the global crisis continues. Similarly, household consumption and expenditure is estimated to decline on average by between EGP 153 and EGP 180 per person per month, which is between 9.0 and 10.6 percent of average household income. The cumulative loss in GDP from these three external shocks alone could amount to between 2.1 and 4.8 percent of annual GDP in 2020 if the crisis lasts for 3 to 6 months. While the country’s focus currently is rightly on fighting the health crisis and mitigating its immediate impacts, planning on how to re-open the economy should also start now.
Author: Breisinger, Clemens
Publisher: Intl Food Policy Res Inst
ISBN:
Category : Political Science
Languages : en
Pages : 11
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Book Description
Although the global economy is forecasted to shrink by 4.4 percent in 2020 (IMF 2020), the Egyptian economy is proving resilient to the immense human and financial costs caused by the global COVID-19 pandemic. This resilience is mainly explained by the successful implementation of the economic reform program since 2016 that provided more fiscal space to withstand the adverse impact of the COVID-19 crisis. However, that Egypt’s economy is holding up is also due to the rapid response and proactive measures to limit the impact of the virus that were implemented by the Egyptian Government since March 2020 (MPED 2020). These enabled the country to avoid a full lockdown policy (Figure 1). While Egypt posted negative economic growth rates from April to June 2020 at the height of the crisis, overall economic growth was still positive at 3.6 percent for fiscal year (FY) 2019/20. This estimate is only slightly lower than the initial projection of the impact of the pandemic on Egypt’s economy of an annual economic growth equal to 3.8 percent, as estimated by staff of the International Food Policy Research Institute (IFPRI) and the Ministry of Planning and Economic Development (MPED) (Breisinger et al. 2020). The deviation between the early and final estimate can be mainly explained by the lower than expected growth rates in the manufacturing and health services sectors and the better than expected performance of the trade and transport sectors.
Author: Richard H. Adams
Publisher: Intl Food Policy Res Inst
ISBN:
Category : Business & Economics
Languages : en
Pages : 96
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Book Description
Study based on a household survey conducted by the International Food Policy Research Institute (IFPRI) between September 1986 and May 1987 in three villages in the Minya governate.
Author: Mesbah Fathy Sharaf
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
Author: Breisinger, Clemens
Publisher: Intl Food Policy Res Inst
ISBN:
Category : Political Science
Languages : en
Pages :
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Book Description
The COVID-19 crisis may lead to a 1.1 percent decline in Egypt’s GDP during the 4th quarter (April to June) of the 2019/20 fiscal year, compared to the same quarter in 2018/19. Without the Government of Egypt’s COVID-19 emergency response package, GDP in Q4 may have declined by 8.7 percent. Tak-ing the emergency response pack-age into account, we estimate an annual growth rate of 3.8 percent for FY 2019/20. Without the emer-gency response package, annual growth for FY 2019/20 may have been as low as 1.9 percent. The services sector is hit hardest, falling by 10.9 percent, followed by industry at -8.3 percent. Agriculture is the most resilient sector. However, these losses are lower than those expected in comparable countries, especially those that resorted to extended periods of full lockdowns. Impacts on Egypt’s agri-food system are less severe than elsewhere in the economy. Most damage will occur in nonfarm components of the agri-food system due to falling consumer demand. Although higher-income households face the largest income losses, lower-income households also will see their incomes decline significantly. The level of social protection required to fully offset the income losses of poor households is likely to be prohibitive, especially given falling revenues from reduced economic activity. Continuing to gradually open the economy again will be critical for avoiding permanent job losses and increases in poverty for the coming year. The process of re-opening the economy may also provide opportunities for fostering more private sector-driven and sustainable economic transformation.
Author: Rasha Mohamed El-Akkad
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
Author: Nazli Choucri
Publisher:
ISBN:
Category : Egypt
Languages : en
Pages : 42
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Book Description
Author: Hector Perez-Saiz
Publisher: International Monetary Fund
ISBN: 1498324487
Category : Business & Economics
Languages : en
Pages : 37
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Book Description
We propose a simple macroeconomic model with input-output sectoral linkages based on Acemoglu et al. (2016) to quantify how changes in aggregate demand due to additional income from household’s remittances propagates through the network of input-output linkages in Sub-Saharan African countries. We first propose two network centrality measures to assess the role of some sectors as key input providers in the economy. Then, we use these measures to quantify the effect of sectoral linkages on sectoral and total output following an increase in remittances inflows. Our empirical results suggest that the effects of remittances on recipient economies increase with the degree of linkages across sectors, which is especially prominent in the case of the financial intermediation sector. Our paper contributes to the emerging macroeconomic literature on the propagation of shocks across sectors and the implications for the whole economy.
Author:
Publisher: World Bank Publications
ISBN: 082136345X
Category :
Languages : en
Pages : 182
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Book Description
International migration, the movement of people across international boundaries to improve economic opportunity, has enormous implications for growth and welfare in both origin and destination countries. An important benefit to developing countries is the receipt of remittances or transfers from income earned by overseas emigrants. Official data show that development countries' remittance receipts totaled 160 billion in 2004, more than twice the size of official aid. This year's edition of Global Economic Prospects focuses on remittances and migration. The bulk of the book covers remittances.
