Following a period of rapid growth in the late 19th century, Egyptian real per capita income stagnated in the first half of the 20th century. This widely accepted belief is based on trends in agricultural productivity but a fragmented body of evidence on aggregate output. In particular, no...

Recent academic and policy discussions have emphasized the poor growth performance of MENA's economies since the mid 1980s. It has been argued that the expanding global economy presents MENA with the opportunity to augment its limited pool of national savings with private capital inflows....