Egypt's Absorptive Capacity During 1960–1972

Bibliographic Data

ID8968895
AuthorsNazem Abdalla (University of Maryland Eastern Shore, corresponding author)
Year1984
Volume16
Issue2
Pages177-198
Publication date1984-05-01
Open AccessYes
TypeARTICLE
VenueInternational Journal Middle East Studies (JOURNAL)
Journal identifiersISSN: 0020-7438 • E-ISSN: 1471-6380
PublisherCambridge University Press (CUP) (PUBLISHER)
DOI10.1017/s0020743800027926
OpenAlexW2127503415
LanguageEN
References cited6

During the 1960–1972 period Egypt was committed to a socialist, centrally planned model of economic development. Economic growth goals were expounded in optimistic consecutive five-year plans. When it became apparent that these goals would not be achieved, the second five-year plan was expanded to seven years (1965–1972). private investment had been effectively discouraged after the nationalization of privately owned industry during 1960–1963. In order to finance ambitious development plans, Egypt borrowed heavily during 1960–1972. Approximately $2.3 billion was borrowed mainly from the U.S.S.R., the European Economic Community, and the United States. The plans' large capital development projects were undertaken with dismal results. A major factor causing these failures was the low absorptive capacity of Egypt during that time. This severely restricted the amount of capital that could be put to constructive use in any given time period and prevented Egypt from realizing her goal of doubling national income in ten years (1960–1970)

Absorptive capacity · Ancient history · Business · Capital (architecture · Capital investment · Constructive · Development economics · Economic growth · Economic policy · Economics · Investment (military · Order (exchange · Political science · Finance · Fiscal Policy and Economic Growth · History · Indian Economic and Social Development · Local Government Finance and Decentralization

Tools

Open DOISci-Hub