Policy makers in Latin America and the Caribbean (LAC) often complain that poor fiscal performance in their countries is a result of a high degree of spending rigidity. Despite being a common complaint, the issue has remained largely ignored by the literature because of the lack of adequate...

The paper estimates the rates of return to investment in education in Egypt, allowing for multiple sources of heterogeneity across individuals. The paper finds that, in the period 1998-2006, returns to education increased for workers with higher education, but fell for workers with intermediate...

Bank credit to Egypt's private sector decreased over the last decade, despite a recapitalized banking system and high rates of economic growth. Recent macro-economic turmoil has reinforced the trend. This paper explains the decrease based on credit supply and demand considerations by 1)...

The 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...

Bank credit to Egypt's private sector decreased over the last decade, despite a recapitalized banking system and high rates of economic growth. Recent macro-economic turmoil has reinforced the trend. This paper explains the decrease based on credit supply and demand considerations by 1)...

This paper describes stylized facts about internal migration and the labor force in Egypt, and shows how internal migration in the country is low compared with international standards. Using aggregate labor force survey data, the paper shows how individuals migrate to governorates with higher...

From 2008 to 2011, Egypt was hit by significant shocks, both global and country-specific. This paper assesses the impact of the resulting macroeconomic instability on the banking sector, and examines its role as a shock absorber. The Central Bank of Egypt accommodated the shocks by supplying...

The paper estimates the rates of return to investment in education in Egypt, allowing for multiple sources of heterogeneity across individuals. The paper finds that, in the period 1998–2006, returns to education increased for workers with higher education, but fell for workers with...

Governments of developing countries typically spend between 20 and 30 percent of gross domestic product. Hence, small changes in the efficiency of public spending could have a major impact on aggregate productivity growth and gross domestic product levels. Therefore, measuring efficiency and...

This paper explores the determinants of public employment across the world and finds that it is negatively associated with country size (by population) and positively associated with the income level. The findings show that a country's openness to trade is positively associated with public...