The economic cost of the Arab Spring: the case of the Egyptian revolution

Echevarrı́a, Cruz A.; García‐Enríquez, Javier

doi:10.1007/s00181-019-01684-7

Cited by 26 publications

(27 citation statements)

References 35 publications

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“…In parallel, many studies (e.g. Khan, 2014; Prince et al , 2018; Echevarría and García-Enríquez, 2019) underline the adverse implications of the AS for Egypt's economy.…”

Section: Resultsmentioning

confidence: 99%

“…These results could signify post-AS economic and political uncertainties that face entrepreneurship in Egypt. They could be indicative of some important implications for economic growth and for the business performance of the private sector, and they could be associated with the adverse economic implications of the AS (Khan, 2014; Prince et al , 2018; Echevarría and García-Enríquez, 2019).…”

Section: Resultsmentioning

confidence: 99%

“…There remain significant economic, political and social challenges in the post-AS Egypt (Bargawi, 2014; Shalaby, 2016; Silver et al , 2017; Ali, 2019; Echevarría and García-Enríquez, 2019), and the outcomes from the AS-related changes could take many years to prevail. Nevertheless, our novel findings underscore the importance of comprehending the perceptions about the AS, and they signal that the AS has set a path toward significant transformations in the Egyptian society.…”

Section: Discussionmentioning

confidence: 99%

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Did the Arab Spring lead to economic, institutional and sociopolitical changes? An empirical analysis through the perceptions of Egyptian youth

Fakih

Ghazalian

2021

IJSE

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PurposeEgyptian youth played a central role in the Arab Spring (AS) uprisings, demanding bread, justice and opportunities. This paper examines the perceptions of young Egyptians about the AS through their responses on the economic, institutional and sociopolitical conditions in the pre-AS and post-AS periods.Design/methodology/approachThe empirical analysis relies on a micro-level dataset extracted from the SAHWA Youth Survey. The estimations are carried out through the bivariate ordered probit model.FindingsThe results reveal that the perceptions about the AS-related outcomes are not uniform, and that social values and ideological characteristics matter more than the standard socioeconomic attributes in comprehending the responses. They indicate that individuals with secularist, non-traditionalist and gender equality inclinations have generally formed more favorable perceptions about the AS-related changes. Also, the results suggest that the AS has generated propitious perceived conditions for further global connection, relative to the Arab and Islamic ties. They show that the perceptions of individuals who place credence in entrepreneurial attitude have been relatively unfavorable vis-à-vis the post-AS conditions.Originality/valueThe findings underscore the importance of comprehending the perceptions about the AS-related outcomes. They imply that the AS has produced “winners” and “losers,” and has laid down the basis for social transformations in Egypt.

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“…In parallel, many studies (e.g. Khan, 2014; Prince et al , 2018; Echevarría and García-Enríquez, 2019) underline the adverse implications of the AS for Egypt's economy.…”

Section: Resultsmentioning

confidence: 99%

Section: Resultsmentioning

confidence: 99%

Section: Discussionmentioning

confidence: 99%

See 1 more Smart Citation

Did the Arab Spring lead to economic, institutional and sociopolitical changes? An empirical analysis through the perceptions of Egyptian youth

Fakih

Ghazalian

2021

IJSE

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“…Egypt's economy had been under severe strain since the revolution and has been subject to prolonged uncertainty and resource-constrained macroeconomic policies, all of which delayed responses to necessary stimulus packages, which adversely affected economic recovery in the wake of that revolution [59]. According to Echevarría and García-Enríquez [60] uncertainty during the years 2011-2017 resulted in reduced levels of domestic and foreign direct investment. They estimated a 1.6% loss in the annual growth rate of per capita real GDP, which amounted to a loss of USD 897 and an annual loss of USD 83.2 billion in the aggregate real GDP.…”

Section: Methodsmentioning

confidence: 99%

Economic Impacts of Public Air Transport Investment: A Case Study of Egypt

Njoya

Ragab

2022

Sustainability

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This paper applies an input–output (I-O) approach and a dynamic computable general equilibrium (CGE) model to examine the economy-wide short- and long-run impacts of an increase in public capital investment in air transport infrastructure. The results of the I-O analysis reveal that air transport has above-average backward linkages with other sectors in the economy, with mining being the most intensive industry in intermediate input demand for air transport. The results of the CGE simulation show that at the macroeconomic level, expanding public air transport stock induces modest growth in GDP, employment, income, consumption, private investment, and trade. The findings show that the estimated impact of air transport investment is lower than estimated in studies on the “multiplier effect” of the investment using partial equilibrium techniques.

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“…For instance, the per capita GDP was $9,857 in 2010 and fell to $9,814 by 2013. Furthermore, the investment to GDP ratio decreased from 19.5% in 2010 to 13.64% in 2014 (Echevarría and García-Enríquez, 2019). Abdelbaki (2013) showed that the Arab Spring produced economic and political instability in the Egyptian stock market.…”

Section: Research Settingmentioning

confidence: 99%

Did the environmental jolt matter? Corporate entrepreneurship and firm financial performance in Egypt

Tantawy

Elaasi

Elshawadfy

2021

JEEE

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Purpose Evidence suggests that corporate entrepreneurship (CE), namely, innovativeness, risk-taking and corporate venturing, enhances a firm’s performance. However, the study of CE in developing markets – particularly in Egypt – is still new and undeveloped. The literature stresses the importance of incorporating environmental factors into the study of CE. Therefore, the purpose of this study is to examine the relationship between CE, environmental jolts (unexpected abrupt environmental events such as the Arab Spring) and the firm’s financial performance. Based on the periods before and after the series of anti-government protests known as the Arab Spring, this paper argues that after an environmental jolt, CE will negatively affect financial performance. Design/methodology/approach This study analyzes and correlates CE, environmental jolts and firm performance in Egypt for a period over 10 years (from 2007 through 2016) using a sample of 94 manufacturing firms listed on the Egyptian Stock Exchange. Data were manually collected through archival/secondary data using financial and accounting information from the annual reports released by the firms. These reports were downloaded from the firms’ webpages and the Egyptian Exchange website. Findings The main results of this paper indicate that environmental factors play a role in the effect of CE on firm performance. Using the 2011 Arab Spring as a quasi-natural experiment, this paper finds that CE’s effect on firm performance is higher pre-jolt and lower post-jolt. Practical implications This study provides useful implications for managers and practitioners. Firms need to find new ways of allocating their resources to help provide innovative products and to have a competitive advantage. Although innovation, risk-taking and corporate venturing may have a delayed impact on a firm’s financial performance, managers should evaluate the implications and the success of CE activities in the long-term, not from a short-term perspective. Originality/value Building upon the existing literature, this is the first paper to investigate the effect of CE on a firm’s financial performance in Egypt during the Arab Spring. The manufacturing firms listed on the Egyptian Exchange were analyzed in a quasi-natural experiment, taking into account the moderating role of an environmental jolt, namely, the Arab Spring.

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The economic cost of the Arab Spring: the case of the Egyptian revolution

Cited by 26 publications

References 35 publications

Did the Arab Spring lead to economic, institutional and sociopolitical changes? An empirical analysis through the perceptions of Egyptian youth

Did the Arab Spring lead to economic, institutional and sociopolitical changes? An empirical analysis through the perceptions of Egyptian youth

Economic Impacts of Public Air Transport Investment: A Case Study of Egypt

Did the environmental jolt matter? Corporate entrepreneurship and firm financial performance in Egypt

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