Description
Kheir-el-Din (economics, Cairo U., Egypt) presents seven research papers concerned with the causes of inflation in Egypt. In particular, they focus on the following issues: whether inflation targeting has contributed to worldwide macroeconomic stabilization, the relative accuracy and reliability of the consumer price index in Egypt, whether there is a threshold effect between inflation and growth in Egypt, whether Egypt is prepared to implement a full-fledged inflation-targeting framework, the impact of fiscal policy on price stability, the relationship between wage growth and price inflation, and the affect of relative price adjustment on inflation in transition economies. Distributed in the U.S. by International Publishers Marketing (IPM). Annotation ©2010 Book News, Inc., Portland, OR (booknews.com)
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Since 2004, economic reforms in Egypt have led to robust expansion, a healthy external position, and enhanced investor confidence. But despite these positive macroeconomic developments, inflation has been steadily rising. Does fiscal policy threaten price stability? Does wage growth in theEgyptian economy lead price inflation, or is it the reverse? In this volume, these and other questions are examined by contributors who participated in a conference held in Cairo in late 2007.Here is a coherent and comprehensive analysis of the factors driving prices in Egypt, in an attempt to find a satisfactory balance between prices and economic growth. While Egypt is the focus of the analysis, the papers draw upon the relevant literature, and international experience, the findingscan be applied to other middle-income economies. This timely study helps to explain the complex issues facing economists and policymakers, with proposals for reform.Contributors: Hala Abou-Ali, Hala Fares, Omneia A. Helmy, Alaa Ibrahim, Hanaa Kheir-El-Din, Rania Al-Mashat, Diaa Noureldin, Klaus Schmidt-Hebbel, and Sherine Al-Shawarby.
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