Empirical Analysis of Corporate Savings in Egypt

This paper presents empirical analysis of corporate savings in Egypt using two datasets: a survey of small and medium enterprises and data from accounting statements for the largest publicly traded firms. There are two main findings. First, larger firms invest more (they have more physical saving) and have greater access to finance than smaller firms. Second, despite the financial deepening, the use of credit products has been declining during the past decade. The study reaffirms the importance of improving access to financial services in Egypt and points out the need for more research. In addition, policies aimed at reducing macroeconomic volatility are likely to result in increased investment and growth in Egypt.

Bibliographic Details

Main Author:	Love, Inessa
Language:	English
Published:	2011-04-01
Subjects:	ACCESS TO CREDIT, ACCESS TO EXTERNAL FINANCE, ACCESS TO FINANCE, ACCESS TO FINANCIAL SERVICES, ACCESS TO FINANCING, ACCOUNTING, ACCOUNTS RECEIVABLE, ACCOUNTS RECEIVABLES, AFFILIATED ORGANIZATIONS, ASYMMETRIC INFORMATION, AVAILABILITY OF FINANCE, BALANCE SHEET, BALANCE SHEETS, BANKS, BENCHMARK, BONDS, BOOK VALUE, BOOK VALUES, BUSINESS ENVIRONMENT, CAPITAL RATIO, CAPITAL RATIOS, CASH BALANCES, CASH EXPENSE, CASH FLOW, CASH FLOWS, CASH HOLDINGS, COMPETITIVENESS, CORPORATE SAVINGS, COST OF CAPITAL, CREDIBILITY, CREDIT PRODUCTS, DEBT, DEBT LEVEL, DEBT LEVELS, DEBT OBLIGATIONS, DECISION MAKING, DEVELOPING COUNTRIES, DEVELOPMENT POLICY, DISINVESTMENT, DIVIDEND, DIVIDENDS, DUMMY VARIABLES, EARNINGS, EMPLOYEE, EQUIPMENT, EQUIPMENT PURCHASES, EQUITY HOLDERS, EXCHANGE RATE, EXPORTER, EXPORTERS, EXTERNAL FINANCE, EXTERNAL FUNDS, FINANCE ACCESS, FINANCE CONSTRAINTS, FINANCIAL ACCESS, FINANCIAL ASSETS, FINANCIAL CRISIS, FINANCIAL PRODUCT, FINANCIAL PRODUCTS, FINANCIAL SAVINGS, FINANCIAL SYSTEM, FINANCING ACCESS, FINANCING NEEDS, FINANCING OBSTACLES, FIXED ASSETS, FIXED CAPITAL, FLOW OF FUNDS, FOREIGN FIRMS, FOREIGN OWNERSHIP, FUTURE CASH FLOWS, FUTURE GROWTH, FUTURE GROWTH OPPORTUNITIES, GDP, GENDER, GOVERNMENT OWNERSHIP, GOVERNMENT PAPER, GOVERNMENT SAVINGS, GREATER ACCESS, GROSS MARGIN, GROSS VALUE, GROWTH OPPORTUNITIES, GROWTH OPPORTUNITY, GROWTH POTENTIAL, HOLDING, HOLDING COMPANIES, HOLDINGS, HOUSEHOLD SAVINGS, INCOME, INCOME VOLATILITY, INDUSTRIAL COUNTRIES, INFLATION, INTEREST EXPENSE, INTEREST PAYMENTS, INTEREST RATE, INTEREST RATES, INTERNAL FINANCE, INTERNAL FUNDS, INTERNAL SAVINGS, INTERNATIONAL BANK, INTERNATIONAL MARKETS, INVENTORIES, INVENTORY, INVESTMENT BEHAVIOR, INVESTMENT CLIMATE, INVESTMENT CLIMATE ASSESSMENT, INVESTMENT FINANCE, INVESTMENT OPPORTUNITIES, INVESTMENT OPPORTUNITY, INVESTMENT PROJECTS, INVESTMENT PURPOSES, LACK OF ACCESS, LIABILITY, LIABILITY SIDE, LIQUID ASSETS, LOAN, LOAN APPLICATION, LONG TERM DEBT, MACROECONOMIC UNCERTAINTY, MACROECONOMIC VOLATILITY, MANUFACTURING INDUSTRY, MARKETABLE SECURITIES, NET VALUE, OUTPUTS, OUTSIDE INVESTORS, OVERDRAFT, OVERHEAD COSTS, PHYSICAL ASSETS, POLITICAL UNCERTAINTY, PREFERENTIAL ACCESS, PRIVATE SECTOR DEVELOPMENT, PRODUCTIVE ASSETS, PRODUCTIVE INVESTMENT, PRODUCTIVITY, PROFITABILITY, PUBLIC POLICY, RAPID GROWTH, REGRESSION ANALYSIS, REGULATORY POLICY, RETAINED EARNINGS, RETURN, RETURN ON ASSETS, ROA, ROE, SALES GROWTH, SALES REVENUES, SAVINGS, SAVINGS ACCOUNT, SAVINGS ACCOUNTS, SECURITIES, SHAREHOLDER, SHAREHOLDERS, SHORT TERM DEBT, STATEMENT, STATEMENTS, STOCK EXCHANGE, STOCK HOLDERS, STOCKS, TOTAL DEBT, TOTAL FACTOR PRODUCTIVITY, WAGES, WORKING CAPITAL,
Online Access:	http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20110413172716 https://hdl.handle.net/10986/3400
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