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Infrastructure and Economic Growth in Egypt

ACCOUNTING AIR AIR TRANSPORT AIRPORT ASSETS BENCHMARK BOND CAPITAL FORMATION CAPITAL GROWTH CAPITAL STOCK COMPETITIVENESS CONSUMPTION EXPENDITURES DEBT OVERHANG DEVELOPING COUNTRIES DEVELOPING COUNTRY DISCOUNT RATE DOMESTIC CREDIT DUMMY VARIABLE ECONOMIC DEVELOPMENT ECONOMIC GROWTH ECONOMIC PERFORMANCE ECONOMICS ECONOMICS LITERATURE ELECTRICITY EXCESS DEMAND EXPORTS FINANCE INFRASTRUCTURE FINANCIAL INSTITUTIONS FINANCIAL INTERMEDIATION FINANCIAL SUPPORT FISCAL BURDEN FIXED COSTS FOREIGN INVESTMENT GDP PER CAPITA GOVERNMENT EXPENDITURE GOVERNMENT EXPENDITURES GOVERNMENT REVENUE GOVERNMENT REVENUES GROSS DOMESTIC PRODUCT GROWTH PROJECTIONS GROWTH RATE HIGHWAY HOLDING HUMAN CAPITAL INCOME DISTRIBUTION INCOME GROWTH INCOME INEQUALITY INCOME LEVEL INFLATION INFLATION RATE INFRASTRUCTURE DEVELOPMENT INFRASTRUCTURE INVESTMENT INFRASTRUCTURE INVESTMENTS INFRASTRUCTURE PROJECTS INFRASTRUCTURES INLAND WATERWAYS INTERNATIONAL BANK INTERNATIONAL ROAD FEDERATION INVESTMENT PROCESS LENGTH OF ROADS MACROECONOMIC INSTABILITY MACROECONOMIC STABILITY MACROECONOMICS MARGINAL COSTS NATIONAL INCOME NPL OUTPUT PER CAPITA PORT FACILITIES PORTS POSITIVE COEFFICIENT POSITIVE COEFFICIENTS PRIVATE CAPITAL PRIVATE CREDIT PRIVATE FINANCIAL INSTITUTIONS PRIVATE INVESTMENT PRIVATE INVESTMENTS PRIVATE SECTOR PROVISION OF INFRASTRUCTURE PUBLIC PUBLIC DEBT PUBLIC EXPENDITURE PUBLIC EXPENDITURE REFORM PUBLIC EXPENDITURE REVIEW PUBLIC EXPENDITURES PUBLIC INFRASTRUCTURE PUBLIC INVESTMENT PUBLIC INVESTMENT IN INFRASTRUCTURE PUBLIC SECTOR PUBLIC SECTOR REFORM PUBLIC SPENDING RAILROADS REAL EXCHANGE RATE REAL GDP REAL INCOME REAL INTEREST REAL INTEREST RATE REGRESSION ANALYSIS REGULATORY FRAMEWORK RETURNS ROAD ROAD NETWORK ROADS SANITATION SELF-FINANCE SHARES OF INVESTMENTS SOCIAL WELFARE STOCKS TAXATION TELECOMMUNICATIONS TELEPHONE LINES TIME VALUE OF MONEY TOTAL OUTPUT TRANSPORT TRANSPORT QUALITY TRANSPORTATION TRANSPORTATION FACILITIES TRUST FUND
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World Bank, Washington, DC
Middle East and North Africa | Egypt, Arab Republic of
2014-09-02T20:39:05Z | 2014-09-02T20:39:05Z | 2010-01

In the past half a century, Egypt has experienced remarkable progress in the provision of infrastructure in all areas, including transportation, telecommunication, power generation, and water and sanitation. Judging from an international perspective, Egypt has achieved an infrastructure status that closely corresponds to what could be expected given its national income level. The present infrastructure status is the result of decades of purposeful investment. In the past 15 years, however, a worrisome trend has emerged: Infrastructure investment has suffered a substantial decline, which may be at odds with the country s goals of raising economic growth. Improving infrastructure in Egypt would require a combination of larger infrastructure expenditures and more efficient investment. The analysis provided in this paper suggests that an increase in infrastructure expenditures from 5 to 6 percent of gross domestic product would raise the annual per capita growth rate of gross domestic product by about 0.5 percentage points in a decade s time and 1 percentage point by the third decade. If the increase in infrastructure investment did not imply a heavier government burden (for instance, by cutting down on inefficient expenditures), the corresponding increase in growth of per capita gross domestic product would be substantially larger, in fact twice as large by the end of the first decade. This highlights the importance of considering renewed infrastructure investment in the larger context of public sector reform.

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