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      Are We Sure about the Effects of the Egyptian Uprisings? A Seemingly Unrelated Regressions Approach

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            Abstract

            Four years after the historic uprising of the Egyptians in January 2011, we aim to understand whether the Egyptian revolution has had a different impact on different sectoral investments in the economy. Using data over the 2002Q1–2014Q2 period and a seemingly unrelated regression equations (SURE) approach that allows for contemporaneous correlation across sectors of the economy, we find that the revolution's effect on sectoral investments has been adverse, on average, but heterogeneous across sectors. Results hold under a number of robustness checks.

            Content

            Author and article information

            Journal
            10.13169
            worlrevipoliecon
            World Review of Political Economy
            Pluto Journals
            2042891X
            20428928
            Fall 2015
            : 6
            : 3
            : 341-351
            Article
            worlrevipoliecon.6.3.0341
            10.13169/worlrevipoliecon.6.3.0341
            359906e1-be4d-45ea-9b1f-55dbc0de22a6
            Copyright 2015 World Association for Political Economy

            All content is freely available without charge to users or their institutions. Users are allowed to read, download, copy, distribute, print, search, or link to the full texts of the articles in this journal without asking prior permission of the publisher or the author. Articles published in the journal are distributed under a http://creativecommons.org/licenses/by/4.0/.

            Categories
            Articles

            Political economics
            Egyptian economy,seemingly unrelated regressions,Egyptian revolution

            Notes

            1. It is worth mentioning that throughout the article we only focus on 16 sectors of the Egyptian economy since private sector investments are only available in these 16 sectors, although data for total and public investments for 20 sectors is available from the Egyptian Ministry of Economic Development.

            2. Other robustness checks (not included for space considerations) include adding and dropping variables such as global commodity prices and foreign reserves, as well as experimenting with different combinations of the different definitions of money supply, the exchange rate, and inflation.

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