Magda Kandil


Magda KandilMagda Kandil is currently the Chief Economist and Head of Research and Statistics Department at the Central Bank of the United Arab Emirates. In this capacity, she is the Chief Economic Advisor, advising senior management and policy departments and in charge of overseeing the functions of three divisions of the Research and Statistics Department, Statistics Production and Management Division, Research and Analysis Division, and Publications and Library Division. She worked with the IMF during August 1999-August 2014 where she held the positions of Advisor to the Executive Director and Senior Economist, as well as a Visiting Scholar at the IMF Institute and Research Department. She held the position of the Executive Director and Director of Research at the Egyptian Center for Economic Studies (ECES) while on leave in the interest of the IMF, July 2010-June 2012. Before joining the IMF, Dr. Kandil undertook several academic and professional activities at various institutions in the United States over 11 years, including her last academic position as Professor and Chair of the Department of Economics at the University of Wisconsin-Milwaukee where she was a faculty member during 1992-1999. Her other academic positions include the Justus-Liebig Universitat, Giessen, Germany, 1994, Southern Illinois University, 1988-1992, and Washington State University, 1984-1988. Dr. Kandil received several awards, including three citations of excellence for the highest quality rating by ANBAR Electronic Intelligence. In 2000, she was ranked 344th among the top 500 economists in the world. In 2018, she is ranked 24 (top 1 percent, based on number of journal pages weighted by the number of authors, using data from 53204 authors, compiled by RePEc. She is a member of the American Economic Association, and a Research Fellow of the Economic Research Forum for the Arab Countries, Iran, and Turkey (ERF) where she was elected as the first woman chair of ERF Research Fellows in 2002 and 2006. She has published extensively on various topics such as debt accumulation, public spending, price flexibility, exchange rate fluctuations, and macroeconomic policies. Her publications include (i) four edited volumes on privatization, priorities in the labor market of Egypt, and African development perspectives, (ii) one book on the implications of demand variability on growth and inflation, (iii) 131 articles (as author or co-author) in refereed quality international professional journals, (iv) 17 chapters in books, (v) 8 book reviews, (vi) 15 IMF working papers, (vii) 9 policy viewpoints, and numerous other working papers. Dr. Kandil received her Ph.D. in economics from the Washington State University, Pullman, Washington in 1988, her MBA from Indiana University in South Bend in 1984, her MA in economics from Notre Dame University in 1982, and her BS in economics from the Faculty of Economics and Political Sciences, Cairo University.

Papers Published in World Economics:

Growth in Oil- and Non-Oil-Producing Countries
Author: Magda Kandil

Using data for a sample of oil- and non-oil-producing countries this article studies determinants of growth to assess the relative importance of domestic policies and external spillovers. For net oil exporters, a higher price of oil helps increase resources for spending and available liquidity to support real growth. For net oil importers it increases the cost of imports and government spending on fuel subsidies with a negative effect on real growth. The mechanism transmitting the oil price shock is more evident in developing countries than in advanced oil-producing countries, attesting to less diversified economies in the first group. Across the samples of countries under investigation, advanced and developing oil- and non-oil-producing countries, domestic policies have considerable ability to counter the spillover effects of external shocks.

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Are MENA Countries Reaping the Benefits of Inflows?

Using data for a sample of developing countries, we analyse the effects of external flows, namely migrants’ remittances and FDI flows, on real output growth, price inflation and components of aggregate demand. The historical evidence indicates unstable patterns of FDI inflows to a sample of nine MENA countries. In contrast, remittances flows appear to be more stable over time in recipient countries. Except for Jordan, real GDP growth does not vary significantly with FDI inflows. Tunisia provides the only significant evidence of an increase in price inflation in response to FDI, which is coupled with a significant increase in private investment. FDI flows stimulate a significant increase in imports in Egypt. Remittances inflows appear, in general, a more important determinant of macroeconomic performance. Remittances inflows stimulate real output growth in Jordan, and decrease price inflation in Egypt and Tunisia. The increase in growth in Jordan is coupled with an increase in private consumption, private investment, real exports and imports with respect to remittances inflows. Moreover remittances increase export growth in Tunisia.

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