TY - JOUR
T1 - The political economy of reform
T2 - Egypt in the 1980s
AU - Holt, R.
AU - Roe, T.
PY - 1993/1/1
Y1 - 1993/1/1
N2 - In the 1980s the Egyptian authorities entered into an agreement with the IMF to undertake a series of major policy reforms, including changes in the exchange rate regime, the government budget, the food subsidies, and the deficits of state-owned enterprises. Within a year, these policy changes had been reversed, and the Egyptian economy reverted to a state of crisis. The authors analyze the 1986 macroeconomic crisis and reform policies, but they also contrast that response with a series of policy reforms undertaken by the Ministry of Agriculture at the same time regarding controls over agricultural production, which they deem to have been highly successful. Egypt thus represents a case in which an economic crisis came about once there were no further beneficial external circumstances to permit the perpetuation of existing economic policies, and where macroeconomic policy reform failed while agricultural reforms could nonetheless be implemented. -from Editors
AB - In the 1980s the Egyptian authorities entered into an agreement with the IMF to undertake a series of major policy reforms, including changes in the exchange rate regime, the government budget, the food subsidies, and the deficits of state-owned enterprises. Within a year, these policy changes had been reversed, and the Egyptian economy reverted to a state of crisis. The authors analyze the 1986 macroeconomic crisis and reform policies, but they also contrast that response with a series of policy reforms undertaken by the Ministry of Agriculture at the same time regarding controls over agricultural production, which they deem to have been highly successful. Egypt thus represents a case in which an economic crisis came about once there were no further beneficial external circumstances to permit the perpetuation of existing economic policies, and where macroeconomic policy reform failed while agricultural reforms could nonetheless be implemented. -from Editors
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M3 - Article
AN - SCOPUS:0027743092
SP - 179
EP - 224
JO - Journal of Fluid Mechanics
JF - Journal of Fluid Mechanics
SN - 0022-1120
ER -