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Title Interest Rates and Foreign Capital in Egypt Under British Occupation

Full text http://journals.cambridge.org/abstract_S0022050700030795

Author(s) Hansen, Bent

Abstract My archival studies in Egyptian banks reveal that nominal interest rates charged by foreign financial capital in Egypt fell strongly as compared with European rates throughout the period 1882 percent. This is explained by the increasing confidence of European investors with British occupation and policies. To explain the large inflow of financial capital after 1900 a sharp decline in real interest rates, related to the upsurge of agricultural prices, is posited. The case offers interesting parallels to present-day problems of excessive indebtedness in Third World countries.

Type of publication article

Identifier RePEc:cup:jechis:v:43:y:1983:i:04:p:867-884_03

Repository RePEc - Research Papers in Economics

Added to C-A: 2009-06-22;10:19:27

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