01805cas a2200241 a 4500 AALejournalIMF007427 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451947595 1018-5941 BD-DhAAL BD-DhAAL Subramanian, Arvind. The Egyptian Stabilization Experience : An Analytical Retrospective / Arvind Subramanian. Washington, D.C. : International Monetary Fund, 1997. 1 online resource (61 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper analyzes the successful Egyptian stabilization experience during the 1990s, focusing on its distinctive features and contrasting them with the recent experiences of other developing countries. The key policy elements were a large fiscal adjustment, use of an exchange rate anchor that has endured for over six years, supported by prudent monetary policies, and early moves to liberalize interest and exchange markets. The outcomes included the avoidance of an output collapse despite the magnitude of fiscal adjustment; avoidance of stresses on the financial system; reversal of endemic dollarization; financial deepening at the expense of the banking system; and maintenance of external viability despite a lackluster export performance. Mode of access: Internet IMF Working Papers; Working Paper ; No. 1997/105 Full text available on IMF http://elibrary.imf.org/view/journals/001/1997/105/001.1997.issue-105-en.xml IMF e-Library