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The efficacy of the Egyptian bank reform plan in mitigating the impact of the global financial crisis

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The efficacy of the Egyptian bank reform plan in mitigating the impact of the global financial crisis

Content Provider	Springer Nature Link
Author	Abdel Baki, Monal
Copyright Year	2011
Abstract	This study tests the ability of the Egyptian Bank Reform Plan (2004–2009) to enhance bank efficiency and attain the prime national macroeconomic objectives of generating youth employment, stabilizing consumer prices and managing national debt, which were significantly impacted by the global financial crisis (GFC). The Pedroni Fully Modified Ordinary Least Squares (FMOLS) method is employed and the period covered extends from 2003:01 till 2010:03. The results of the study reveal that the bank reform program has helped the economy weather the impact of the global economic meltdown. On the whole, the reformed banking sector showed evident success in helping the Central Bank of Egypt achieve its nominal anchor of price stability, with the highest outcome delivered by foreign banks. State banks are the most efficient in creating jobs and financing national debt. Private domestic banks are fairly functional in job creation and financing foreign debt. While these results attest to the general success of the reform in mitigating the impact of the blow of the GFC, further enhancement of the role of foreign banks is needed to attain the other two macroeconomic goals.
Starting Page	221
Ending Page	241
Page Count	21
File Format	PDF
ISSN	15739414
Journal	Economic Change and Restructuring
Volume Number	44
Issue Number	3
e-ISSN	15740277
Language	English
Publisher	Springer US
Publisher Date	2011-01-14
Publisher Place	Boston
Access Restriction	One Nation One Subscription (ONOS)
Subject Keyword	Bank efficiency Bank reform Unemployment Inflation National debt Financial crisis Development Economics Economic Growth Macroeconomics/Monetary Economics International Economics Economic Policy Economic Systems
Content Type	Text
Resource Type	Article
Subject	Economics and Econometrics

Sl.	Authority	Responsibilities	Communication Details
1	Ministry of Education (GoI), Department of Higher Education	Sanctioning Authority	https://www.education.gov.in/ict-initiatives
2	Indian Institute of Technology Kharagpur	Host Institute of the Project: The host institute of the project is responsible for providing infrastructure support and hosting the project	https://www.iitkgp.ac.in
3	National Digital Library of India Office, Indian Institute of Technology Kharagpur	The administrative and infrastructural headquarters of the project	Dr. B. Sutradhar bsutra@ndl.gov.in
4	Project PI / Joint PI	Principal Investigator and Joint Principal Investigators of the project	Dr. B. Sutradhar bsutra@ndl.gov.in Prof. Saswat Chakrabarti will be added soon
5	Website/Portal (Helpdesk)	Queries regarding NDLI and its services	support@ndl.gov.in
6	Contents and Copyright Issues	Queries related to content curation and copyright issues	content@ndl.gov.in
7	National Digital Library of India Club (NDLI Club)	Queries related to NDLI Club formation, support, user awareness program, seminar/symposium, collaboration, social media, promotion, and outreach	clubsupport@ndl.gov.in
8	Digital Preservation Centre (DPC)	Assistance with digitizing and archiving copyright-free printed books	dpc@ndl.gov.in
9	IDR Setup or Support	Queries related to establishment and support of Institutional Digital Repository (IDR) and IDR workshops	idr@ndl.gov.in

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