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首页> 外文期刊>International Journal of Economics and Finance >The Efficiency of Financing Economic Development Process in Egypt
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The Efficiency of Financing Economic Development Process in Egypt

机译：埃及经济发展过程的趋势效率

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The process of economic development in Egypt cannot be described as a successful one, especially during the first decade of the 21th century. In spite the high economic growth rates achieved in some years during the considered time period; however, this time period has witnessed high rates of unemployment, inflation and poverty. Where the efficiency of financing the process of economic development is considered the main determinate of the success of this process in any economy, as it permits the economy to grow while maintaining the two evils of any economy, unemployment and inflation, at safe and stable rates; this calls for studying the efficiency of financing the development process in Egypt and its main constraints. Although the level of saving in Egypt is weak and tends to deteriorate overtime due to low levels of incomes; however, the main constraint in the process of capital formation is the inefficient use of those savings rather than their size. Where financial system is the main responsible for the efficiency of mobilizing and utilizing savings in any economy; then this study focus on studying the efficiency of the Egyptian financial system on achieving economic development goals. The study revealed a number of weaknesses regarding efficiency of the Egyptian financial system as follows: -??????????? Egyptian financial system plays insignificant role in attracting portfolio investment flows. -??????????? Egyptian financial system plays insignificant role in enhancing the efficiency of utilizing savings. -??????????? Egyptian financial system may direct a considerable amount of savings to conspicuous consumptions and other unproductive uses. -??????????? There is an evidence of spread of the informal financial sector in the Egyptian economy. The study indicates another constraint to the process of economic development which is the ability to mobilize and use foreign exchange. On one side, lack of foreign exchange leads to inability to obtain foreign intermediate and capital goods that are necessary for economic growth; on the other side, lack of foreign exchange leads to devaluation of Egyptian pound which considered the main cause of inflation in the Egyptian economy. In general, it can be said that the Egyptian financial system has failed to achieve economic development goals.
机译：埃及经济发展的过程不能被描述为一个成功的，特别是在21世纪的第一个十年。尽管在考虑的时间段期间几年的经济增长率很高;然而，这段时间目睹了高级失业率，通货膨胀和贫困的高率。凡经济发展过程的融资效率被认为是在任何经济体中的这一进程成功的主要决定，因为它允许经济在维持任何经济，失业和通胀的两种邪恶，以安全和稳定的价格;这项要求研究埃及开发过程的融资效率及其主要制约因素。虽然埃及的节约水平较弱，但由于收入水平低，往往会恶化;然而，资本形成过程中的主要限制是利用这些节省而不是其规模的低效。金融体系是主要负责动员和利用任何经济体的效率的主要负责;然后，这项研究致力于研究埃及金融体系达到经济发展目标的效率。该研究揭示了埃及金融系统效率的许多缺点，如下所示： - ???????????埃及金融体系在吸引投资组合投资流动方面发挥着微不足道的作用。 - ????????????埃及金融体系在提高利用储蓄效率方面发挥着微不足道的作用。 - ????????????埃及金融系统可能会指示显着的消费和其他不良用途的大量节省。 - ????????????有一种证据表明，埃及经济中非正式金融部门传播。该研究表明了对经济发展过程的另一个限制，这是动员和使用外汇的能力。一方面，缺乏外汇导致无法获得经济增长所需的外国中间和资本货物;另一方面，缺乏外汇导致埃及镑的贬值，这考虑了埃及经济中通货膨胀的主要原因。一般来说，可以说埃及金融体系未能实现经济发展目标。

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