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Periodical article | Leiden University catalogue | WorldCat |
Title: | Adjustment in Egypt? The Political Economy of Reform |
Authors: | Bromley, Simon Bush, Ray |
Year: | 1994 |
Periodical: | Review of African Political Economy |
Volume: | 21 |
Issue: | 60 |
Pages: | 201-213 |
Language: | English |
Geographic term: | Egypt |
Subjects: | World Bank IMF economic policy Development and Technology Economics and Trade international relations Politics and Government |
External link: | https://www.tandfonline.com/doi/abs/10.1080/03056249408704056 |
Abstract: | Egypt is currently being hailed as an economic success story. Structural adjustment is working. This article examines claims made by the international financial institutions (IFIs, specifically the IMF, the World Bank, and USAID) about the character of Egypt's economic adjustment and the efficacy of the reform programme. This is done by assessing IFI documentation which has been supplemented, over two years, by a range of interviews with officials. The authors sketch the character of the economic crisis and the diagnosis offered by the IFIs. The IFI reform programme requires a pruning down of the State which is expected to lead to more efficient private initiative and investment. The authors challenge that official line by examining the reform programme, giving particular emphasis to the leading sector of adjustment, agriculture. They argue that while significant reform was indeed necessary by 1990 to sustain the Egyptian political economy, there is little evidence to support the current public optimism of the IFIs regarding Egypt's future growth prospects. Bibliogr., sum. |