(March, 1997)
This paper evaluates the potential role of a Euro-Mediterranean Agreement (EMA) in helping the Government of Egypt implement structural economic reforms. There are numerous possible benefits associated with an EMA. It may offer a strong mechanism for anchoring economic reforms, thus enhancing the perceived credibility of reform efforts. Greater credibility under an EMA may lead to higher economic growth as investment is induced and productive efficiency increases.
Author(s): Simeon Djankov and Bernard Hoekman |