Browsing by Author "Helmy H.E."

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An approach to quantifying social justice in selected developing countries
(Emerald Group Publishing Ltd., 2013) Helmy H.E.; Department of Economics; Faculty of Management Sciences; Modern Sciences and Arts University (MSA); 6th of October City; Egypt
Purpose The objective of this paper is to prove that any attempt to implement social justice in its present undefined form is unattainable, and to successfully achieve social justice, the term should be quantified by an appropriate index; accordingly, the first objective of this paper is to make an attempt to construct an appropriate social justice index. The second objective is to quantify this index for a number of developing countries so that a government with low value of social justice index can make policy for achieving an appropriate level of social justice. Design/methodology/approach � The paper constructs a new composite index for social justice for 40 mostly developing countries by selecting six subindicators, each of which represents one aspect or dimension of social justice. The values of the subindicators are then normalized and the final composite index is formed from the weighted average of the subindicators. Findings � The study quantified the levels of social justice in developing countries through a new social justice index and compared the ranking of some developing countries using the new index. The index also helped in identifying areas of social justice that need improvement and hence can improve the developing countries' scores in the social justice index. Originality/value � The paper is valuable to policy makers in developing countries especially the Arab Spring countries in their pursuit for achieving social justice. Quantifying social justice clarifies exactly where such countries stand and the dimensions of social justice that need urgent action to improve their performance and thus their index scores. 2013, Emerald Group Publishing Limited.
Are Rural Egyptians Better Off? Trends in Inequality and Real Consumption Expenditure in Rural Egypt
(Wiley-Blackwell Publishing Ltd, 2019) Helmy H.E.; Department of Economics; October University for Modern Sciences and Arts (MSA); 6th of October City; Egypt
This article uses three selected national household surveys conducted in Egypt in 1981/1982, 2004/2005, and 2015 to assess the evolution of rural consumption inequality and trends in real rural consumption expenditure at the beginning year of Mubaraks era, his end years, and the post-Mubarak era, respectively. After evaluating inequality using inequality measures, we construct two consumer price indices (CPIs), a general and a food CPI, for rural Egypt for the period 1981 till 2015 to evaluate rural real consumption. The article concludes that rural consumption inequality had slightly fallen from the beginning of the Mubarak era toward its end, but slightly rose again in the post-Mubarak era. Despite the changes, estimates of rural inequality were moderate. Nevertheless, such moderate levels of inequality are expected to be higher if the new rural areas in reclaimed desert lands are accounted for separately in national surveys. The article also concludes that according to our CPI, real rural consumption expenditure had fallen in most expenditure brackets throughout the whole period, with the exception of some small-sized brackets at the very top and very bottom ends of the consumption expenditure distribution. Published by Wiley Periodicals, Inc., 350 Main Street, Malden, MA 02148, USA, and 9600 Garsington Road, Oxford, OX4 2DQ.
Egypt's rural-urban income disparity: Is the gap diverging?
(2011) Helmy H.E.; Department of Economics; Modern Sciences and Arts University (MSA); Cairo; Egypt
Although some studies have attempted to assess the rural-urban income gap in the 1960s and 1970s, no study has focused on the evolution of the gap over the past 25 years, let alone the evolution in the real differences in per capita income between the rural sector and the urban one. The objective of this study is to fill the gap in the literature on this topic and to appraise the development in the gap - in nominal and real terms - both on the aggregate per capita rural and urban income levels and in different expenditure size classes from 1981 till 2005, a period which witnessed a revolution in the agricultural policies from intensive government intervention to complete liberalization. The results of the study prove that the gap diverged again from 1994 to 2005 after converging from 1981 to 1994. The study also proves that the gap is more apparent in the middle classes rather than the lower ones. Finally, with respect to food consumption the study concluded that a slight gap may exist in favour of rural - and not urban - Egypt. 2011 The Centre for Arab Unity Studies.
The impact of corruption on FDI: Is MENA an exception?
(2013) Helmy H.E.; Department of Economics; Faculty of Management Sciences; Modern Sciences and Arts University (MSA); 6th of October City; Egypt
The eruption of the Arab Spring in Tunisia and Egypt was ensued by deterioration in FDI inflows. Whether a new Middle East free of corruption accompanying previous dictatorships will offset the negative ramifications of the uprisings and enhance FDI in the long run remains debatable. Since the evidence on the causal relationship between corruption and FDI is inconclusive, this study attempts to take another step. The paper investigates the link between corruption and FDI flows to the Middle East and North Africa (MENA) and assesses whether or not corruption has more importance than other FDI determinants. By employing several panel settings with various econometric specifications on 21 MENA countries over the period 2003 to 2009, it is demonstrated that FDI varies positively with corruption. Additionally, FDI in MENA was found to vary positively with per capita income, openness, freedom and security of investments and negatively with the tax and homicide rates. Since corruption was not found to hinder FDI inflows, treating corruption should be based on sound legal procedures that infringe neither on the rights, freedom and security of FDI nor on the degree of openness and freedom of the economy, which are the real stimulants of FDI in MENA. � 2013 Copyright Taylor and Francis Group, LLC.
The Index of Economic Independence: A New Measure of an Economy's Ability to Survive Unilaterally
(Routledge, 2017) Helmy H.E.; Modern Sciences and Arts University (MSA); Egypt
Abstract: The objective of this article is to fill an existing gap in the literature by constructing an index which attempts to assess the degree of a nations immunity to economic risk by quantifying its level of economic independence and its ability to survive unilaterally. To do so, and following the conventional methodology of indices, the article first identifies the dimensions underlying economic independence and then selects the various indicators that best reflect each dimension. It then normalizes each indicator by using its highest and lowest historic goalposts. Finally, it averages the composite index using specific weights assigned first to each indicator and second to each dimension. The economic independence index, which was constructed for 112 countries, provides a gauge to such countries on where they stand in terms of economic resilience and how much risk they face if they were to stand alone economically, or pursue policies that are undesirable from the perspective of more economically powerful countries. This index thus provides a tool for governments to measure the direction and magnitude of government action needed to improve their respective nations� level of economic independence. � 2017, Journal of Economic Issues / Association for Evolutionary Economics.
A lottery on the first day of classes! An innovative structured steps assignment on a partially randomly selected topic
(Elsevier Ltd, 2016) Helmy H.E.; Department of Economics; Faculty of Management Sciences; Modern Sciences and Arts University (MSA); 6th of October City; Egypt
In this paper we present an innovative in-depth writing assignment with structured steps in an undergraduate economic development course, where we bring two developing countries, randomly selected and represented by two students in class to write about, and later discuss, a certain development problem existing in the two countries, and to prove which country was more successful in overcoming its problem. The assignment started with its most exciting part - the lottery - which was used to assign countries for the students. The guideline, which comprised a detailed outline, important websites and how to use them, and a detailed rubric, provided students with the necessary answers to their inquiries. The feedback on the first part of the projects indicated not only the depth and width required but the degree of accuracy as well. The results were magnificent compared to traditional projects where students were only required to write on a topic of their choice with no accompanying clarifying material on the amount of depth and width required and with no feedback. � 2016 Elsevier Ltd. All rights reserved.
Monetary policy in China and Egypt: Can Egypt play the Chinese game?
(2011) Helmy H.E.; Faculty of Management Sciences Modern Sciences; Arts University (MSA); Egypt
Despite the similarity between the Chinese and Egyptian monetary policies, the outcomes of the policies are profoundly diverse. China's inflation rate was always lower than Egypt's, while its growth rate totally surpassed it. This study attempts first, to compare the monetary policy transmission mechanisms in China and Egypt; second, to evaluate Egypt's readiness to replicate the Chinese paradigm by examining the main monetary policy instruments responsible for China's relatively low inflation and high growth. The paper uses Granger causality tests, a variance autoregressive (VAR) model, impulse response functions (IRF) and variance error decomposition (VDC) analyses to test for the main monetary policy instruments affecting growth and inflation in China and Egypt. Results prove that in the short run, replicating China's policy in Egypt would not be fruitful to Egypt. IRFs have shown that appreciation of the yuan immediately slows down growth, while appreciation of the Egyptian pound increases GDP for two years before it starts decreasing again. Increasing the interest rate decreases growth in China and Egypt as well; but the effect of interest rate on output is much weaker in China than in Egypt. However, the Chinese paradigm, focusing on low exchange and interest rates, may be may be fruitful in Egypt if the long run effect is targeted, since such policy would boost output without significantly affecting inflation. With respect to inflation, results indicate that the interest rate as a monetary policy transmission mechanism is weak in both countries. The exchange rate in China was still the most dominant factor affecting prices, while in Egypt both the exchange rate and interest rate contributions to price changes were modest. If the significance of interest rate as a monetary policy transmission mechanism in Egypt is weak in affecting inflation but crucial in influencing growth, then probably the growth target rather than the inflation target, should receive priority by Egyptian policy makers when shaping this policy instrument. EuroJournals Publishing, Inc. 2011.
Smith on ancient Egypt and the Arab Islamic world: A tale of two statist models
(Taylor and Francis Inc., 2015) Helmy H.E.; Department of Economics; Modern Sciences and Arts University (MSA); 26 July Mehwar Road intersection with Wahat Road; 6th of October City; Egypt
This paper endeavors to portray Egypt, the Arab, and Islamic worlds in the eyes of Adam Smith as implied in his work An Inquiry into the Nature and Causes of the Wealth of Nations from the perspective of the extent and desirability of state intervention in the economy. In other words, the paper attempts to analyze why Smith�s stance on ancient Egypt changed from an example of opulence to an eighteenth-century Egypt that�together with other Arab and Islamic countries� represents a model with many challengeable aspects, although the extent of the state action was remarkable in both models, the ancient and the contemporary. Our premise is that Smith did not defend or attack the models based on the extent of state intervention in the economy, but on whether its intervention was conducive to, first, raising the person�s well-being and, second, promoting the morals of Smith�s �commercial� society. � 2015, The Association for Social Economics.
Three years after their first social justice index: how well did LDCs perform?
(Emerald Group Publishing Ltd., 2017) Helmy H.E.; Department of Economics; Modern Sciences and Arts University (MSA); 6th of October City; Egypt
Purpose: The purpose of this paper is to utilize a newly constructed index for social justice, with its two versions SJI-1 and SJI-2, to measure new values for the indexes in 35 countries in two periods, 2005-2010 and 2011-2015, in an attempt to assess quantitatively how less developed countries developed through time in terms of social justice. Design/methodology/approach: The paper obtained data for 35 developing countries in the six subindicators used to quantify the six dimensions of the social justice index. The values of the subindicators were then normalized and aggregated to form SJI-1 and SJI-2, each of which assigns different weights for its subindicators, for the 35 countries in the two periods 2005-2010 and 2011-2015. Findings: Results of the new values of the index in its two versions were close in showing how 31 countries (according to SJI-1) and 29 countries (according to SJI-2) managed to improve their levels of social justice, while the indexes of only three countries (according to SJI-1) and six countries (according to SJI-2) worsened. Nevertheless, the index depicted that some countries performed better than others by improving their ranks at the expense of others. Comparison of the study�s quantitative results with qualitative research seems to provide some support for SJI-2 in echoing social justice compared to SJI-1. Originality/value: The study is a vital tool for policymakers for appraising the levels of social justice in their respective countries, both in absolute terms by highlighting the scores of their countries with respect to social justice, and in relative terms by clarifying where their countries stand through cross-country comparisons, in addition to identifying dimensions of social justice which are in need of intervention for further enhancement. � 2017, � Emerald Publishing Limited.
The twin deficit hypothesis in Egypt
(Elsevier B.V., 2018) Helmy H.E.; Department of Economics; Faculty of Management Sciences; October University for Modern Sciences and Arts (MSA); 6th of October City; Egypt
We employ a new approach to the twin deficit hypothesis aimed at enhancing policy making in Egypt. In contrast to the conventional twin deficit hypothesis between the current account, which comprises many items out of governments� scope of maneuvering, and the budget deficit, we track the causal link between Egypt's merchandise trade deficit and the budget deficit. We begin first by examining the conventional twin deficit hypothesis using a VAR model, which implies short run reverse causation running from the current account deficit to the budget deficit. Second, as cointegration exists between the budget deficit and the merchandise trade deficit, we run a multivariate VECM model which refutes the twin deficit hypothesis in favor of the current account targeting hypothesis. In policy terms, ameliorating Egypt's trade balance would ultimately improve its fiscal balance as well. � 2018 The Society for Policy Modeling