tailieunhanh - Access to Finance and Economic Growth in Egypt: A Study Led By SAHAR NASR

In some instances, the government accepts free labor from villagers in lieu of a monetary contribution to a local infrastructure project. But in VSLA villages where people can contribute funds to a project, local workers are paid to do the work. Thus, the new installation not only provides clean water, health care or schooling, it generates employment. Ms. Mamane was also struck by changes in the behavior of the VSLA women themselves. In the past, many of the women never left their homes. But now she sees women going about their business all over the. | 41305 This publication provides a comprehensive and informative analysis of a key policy issue facing Egypt and other developing countries-how to enhance appropriate access to finance in support of sustained high economic growth and improved income distribution. The detailed and elegant evaluations of the key segments of the financial sector are supplemented by a holistic discussion that draws out the main interactions including the linkages to institutional reforms. The timely publication will be interest to a large number of policy makers academics development practitioners and financial market participants. Dr. Mohamed A. El-Erian President and CEO of the Harvard Management Company member of the faculty of the Harvard Business School and Deputy Treasurer of Harvard University I j roadening the reach of the financial sector is the key to invigorating both economy and society. If more small businesses can get access to the credit and other financial services they need to turn initiative into employment and profitability and if low income households can gain the economic security offered by an account at an intermediary economic growth and social welfare will both be enhanced. This report takes a close look at the Egyptian financial system to see how outreach and access can be improved. It is firmly based on recently collected statistics and it provides a comprehensive analysis with recommendations. Recent government initiatives have already begun to transform the Egyptian financial system. Access to Finance and Growth in Egypt points the way to future success in lifting the system to the next level. Dr. Patrick Honohan Senior Advisor World Bank and Professor of International Financial Economics and Development Trinity College Dublin Financial exclusion is likely to act as a brake on development as it retards economic growth and increases poverty and inequality. However the access dimension of financial development has often been overlooked mostly because of .