Full Text Available
Note: Clicking the button above will open the full text document at the original institutional repository in a new window.
Is Egypt on a Sustainable Path of Debt Repayment: Evidence from IMF Framework and Fiscal Reaction Function
Fiscal policy is the starting point for an economy to achieve solid economic and social objectives through macroeconomic stability. Risks associated with excessive borrowing and the required fiscal adjustments are threatening especially to developing countries whose debt to GDP ratios are on the ris...
Saved in:
| Main Author: | |
|---|---|
| Format: | Thesis |
| Published: |
AUC Knowledge Fountain
2021
|
| Subjects: | |
| Tags: |
No Tags, Be the first to tag this record!
|
| _version_ | 1867613419938512896 |
|---|---|
| access_status_str | Open Access |
| author | Rashied, Maha |
| author_browse | Rashied, Maha |
| author_facet | Rashied, Maha |
| author_sort | Rashied, Maha |
| collection | Thesis |
| description | Fiscal policy is the starting point for an economy to achieve solid economic and social objectives through macroeconomic stability. Risks associated with excessive borrowing and the required fiscal adjustments are threatening especially to developing countries whose debt to GDP ratios are on the rise. Those countries’ fiscal policies’ sustainability is questioned; hence this research aims at testing for Egypt public debt sustainability and assessing the method capitalized on by the Egyptian authorities; the IMF Approach. By comparing the IMF Debt Sustainability Analysis Approach to the fiscal reaction function with ARDL and VAR as estimation methods, the results of both methods indicate weak sustainability of the public debt. However, the basis on which the conclusion is built differ tremendously. Areas where the IMF Framework exercises several limitations are also highlighted and critiqued. This thesis uses quarterly time-series data set from Q3-2005 to Q2-2020 in evaluating the government’s reaction to public debt accumulation. The policy implications of the thesis point out to the importance of the necessary departure from the IMF Approach as the only tool that judges Egypt public debt sustainability and the need to integrate other measures as it juxtaposes the concerns needed to be taken care of. Calls for fiscal transparency and governance, as well as public expenditure reforms are also required.
JEL Classification Codes: E62, H62, H63, F34 |
| format | Thesis |
| id | oai:fount.aucegypt.edu:etds-2689 |
| institution | American University in Cairo (Egypt) |
| last_indexed | 2026-06-10T12:35:51.500Z |
| license_str | Not specified — see source repository |
| provenance_str_mv | Harvested via OAI-PMH from AUC Knowledge Fountain — bepress |
| publishDate | 2021 |
| publishDateRange | 2021 |
| publishDateSort | 2021 |
| publisher | AUC Knowledge Fountain |
| publisherStr | AUC Knowledge Fountain |
| record_format | dspace |
| source_str | AUC Knowledge Fountain — bepress |
| spelling | oai:fount.aucegypt.edu:etds-2689 Is Egypt on a Sustainable Path of Debt Repayment: Evidence from IMF Framework and Fiscal Reaction Function Rashied, Maha Fiscal policy is the starting point for an economy to achieve solid economic and social objectives through macroeconomic stability. Risks associated with excessive borrowing and the required fiscal adjustments are threatening especially to developing countries whose debt to GDP ratios are on the rise. Those countries’ fiscal policies’ sustainability is questioned; hence this research aims at testing for Egypt public debt sustainability and assessing the method capitalized on by the Egyptian authorities; the IMF Approach. By comparing the IMF Debt Sustainability Analysis Approach to the fiscal reaction function with ARDL and VAR as estimation methods, the results of both methods indicate weak sustainability of the public debt. However, the basis on which the conclusion is built differ tremendously. Areas where the IMF Framework exercises several limitations are also highlighted and critiqued. This thesis uses quarterly time-series data set from Q3-2005 to Q2-2020 in evaluating the government’s reaction to public debt accumulation. The policy implications of the thesis point out to the importance of the necessary departure from the IMF Approach as the only tool that judges Egypt public debt sustainability and the need to integrate other measures as it juxtaposes the concerns needed to be taken care of. Calls for fiscal transparency and governance, as well as public expenditure reforms are also required. JEL Classification Codes: E62, H62, H63, F34 2021-06-23T07:00:00Z thesis application/pdf https://fount.aucegypt.edu/etds/1772 https://fount.aucegypt.edu/context/etds/article/2689/viewcontent/maha_mahmoud_rashied_thesis.pdf Theses and Dissertations AUC Knowledge Fountain sustainability general government budget fiscal policy Econometrics Macroeconomics Political Economy Public Economics |
| spellingShingle | sustainability general government budget fiscal policy Econometrics Macroeconomics Political Economy Public Economics Rashied, Maha Is Egypt on a Sustainable Path of Debt Repayment: Evidence from IMF Framework and Fiscal Reaction Function |
| title | Is Egypt on a Sustainable Path of Debt Repayment: Evidence from IMF Framework and Fiscal Reaction Function |
| title_full | Is Egypt on a Sustainable Path of Debt Repayment: Evidence from IMF Framework and Fiscal Reaction Function |
| title_fullStr | Is Egypt on a Sustainable Path of Debt Repayment: Evidence from IMF Framework and Fiscal Reaction Function |
| title_full_unstemmed | Is Egypt on a Sustainable Path of Debt Repayment: Evidence from IMF Framework and Fiscal Reaction Function |
| title_short | Is Egypt on a Sustainable Path of Debt Repayment: Evidence from IMF Framework and Fiscal Reaction Function |
| title_sort | is egypt on a sustainable path of debt repayment evidence from imf framework and fiscal reaction function |
| topic | sustainability general government budget fiscal policy Econometrics Macroeconomics Political Economy Public Economics |
| url | https://fount.aucegypt.edu/etds/1772 https://fount.aucegypt.edu/context/etds/article/2689/viewcontent/maha_mahmoud_rashied_thesis.pdf |
| work_keys_str_mv | AT rashiedmaha isegyptonasustainablepathofdebtrepaymentevidencefromimfframeworkandfiscalreactionfunction |