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Egypt's Open Door Economic policy: An Attempt at Economic Integration in the Middle East

Published online by Cambridge University Press:  29 January 2009

Osama Hamed
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Abstract

Although some may assert that it is too early to assess the impact of Anwar al-Sadat's liberalization policies on the Egyptian economy, I believe there is enough evidence to measure the important trends that have arisen in their wake. And while the statistics and conclusions may be regarded as tentative, they delineate a picture.

“There is a smell of money around this place.” With this sentence J. R. Frickers, head of Mobil Oil in Egypt, gives us a feeling for the atmosphere that prevailed in Egypt in 1974. The oil price hike of December 23, 1973, created billions of-dollars in surplus funds for Saudi Arabia and the other Arab oil-producing states.

Type
Research Article
Information
International Journal of Middle East Studies , Volume 13 , Issue 1 , February 1981 , pp. 1 - 9
Copyright
Copyright © Cambridge University Press 1981

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References

NOTES

1 Business Week, 02 16, 1974, p. 71.Google Scholar

2 World Bank, Arab Republic or Egypt: Economic Development in a Period of Transition, 4 vols. and Statistical Appendix (Washington: 1978), Vol. I. p. 24.Google Scholar

3 Ibid.

4 Ibid., p. 24.

5 World Bank, Statistical Appendix, p. 26.

6 World Bank, I, p.24.

7 Ibid.

8 Ibid., p.45.

9 Ibid., p.24.

10 Ibid., p.43.

11 John, Waterbury, Egypt: Burden of the Past and Option for the Future (Bloomington: American Universities Field Staff, 1978), p. 8.Google Scholar

12 The Economist, 06, 28, 1975, p.67.Google Scholar

13 World Bank, I, 55.

14 Business Week, 02. 16, 1974, p.71.Google Scholar

15 Waterburry, , Egypt, p. 228.Google Scholar

16 World Bank, IV, 37.

17 World Bank, I, 68.

18 Ibid., pj.27.

19 Abu, Moiem Cid Ahmad Eldeahy, Sources and Methods of Financing Public Development Projects in the Arab Rebublic of Egypt (Kuwait: Arab Planning Institute, 1979), p. 8.Google Scholar

20 World Bank, I, 63.

21 Ibid., p.31.

22 Ibid., p.63.

23 Ibid., p.24.

24 Ibid., p.45.

25 Ibid.

26 Ibid., p.35.

27 Ibid., p.41.

28 The Economist, 06 28, 1975, p.67.Google Scholar

29 World Bank, I, 47.

30 Ibid.

31 World Bank, IV, 45.

32 World Bank, Statistical Appendix, p. 129.

33 WorId Bank, IV, 38.

34 Eldeahy, , p. 39.Google Scholar