Thesis (Ph.D)-Cairo University, 2024.

Bibliography: pages 200-250.

The study aims to analyze the relationship between the capital account liberalization (CAL) and the development of the financial sector in Egypt. For this purpose, the study analyzes how the capital account liberalization can affect Ratio of credit allocated to the private sector (CP/Y), Interest rate spread (IR), Ratio of the money stock to GDP (M2/GDP) and Ratio of market capitalization to GDP (MC/ GDP) in Egypt from 1980-2018.
The findings are supportive of a positive linear relationship between capital account liberalization and the development of the financial sector in Egypt. Specifically, the empirical evidence based on the short and long run estimation displays significant and positive relationship in the four models. The ARDL model was used for this investigation because of the availability of variables with varying orders of integration. We can find that the CAL has a great impact on both the M2 (model 1) and MC (model 4), the results also show that CAL has a medium impact on IR (model 3). In addition, CAL has the smallest impact on CPY (model 2).

تهدف الرسالة إلى تحليل العلاقة بين تحرير حساب رأس المال وتطور القطاع المالي في مصر. وتقوم الدراسة بتحليل كيف يمكن لتحرير حساب رأس المال أن يؤثر على كل من (المعروض النقدي/ الناتج المحلي الاجمال – الفرق بين سعر الفائدة على الودائع والاقراض – حجم الائتمان الممنوح للقطاع الخاص / الناتج المحلي الإجمالي – نسبة القيمة السوقية إلى الناتج المحلي الاجمالى) خلال الفترة 1980- 2018 باستخدام نموذج الانحدار الذاتي للابطاءات الموزعة .

Issued also as CD

Text in English and abstract in Arabic & English.