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More precisely, and in contrast to Karl Marx, who associates absolute rent exclusively with owners of private property, it is the external and internal sovereignty of the state which explains the monopoly of governmental institutions over, for instance, the cultural heritage of a country. Seeing it this way, it is the state that has captured its own monopolistic access to this lucrative source of income
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More precisely, and in contrast to Karl Marx, who associates absolute rent exclusively with owners of private property, it is the external and internal sovereignty of the state which explains the monopoly of governmental institutions over, for instance, the cultural heritage of a country. Seeing it this way, it is the state that has captured its own monopolistic access to this lucrative source of income.
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The annual tourism investments had already peaked in 1998/99 at LE5203 billion. After 2000 investment decelerated as a result of problems in the Egyptian banking sector and a temporary oversupply of hotel rooms.
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The annual tourism investments had already peaked in 1998/99 at LE5203 billion. After 2000 investment decelerated as a result of problems in the Egyptian banking sector and a temporary oversupply of hotel rooms.
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Clearly, external factors like the global expansion of tourism demand and the redirection of tourist flows within the Mediterranean region (eg because of the war in former Yugoslavia) had a signi.cant in.uence on this growth too. Nevertheless, without the necessary regulatory changes in Egypt, the tourism industry would not have been able to take advantage of these externally generated opportunities
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Clearly, external factors like the global expansion of tourism demand and the redirection of tourist flows within the Mediterranean region (eg because of the war in former Yugoslavia) had a signi.cant in.uence on this growth too. Nevertheless, without the necessary regulatory changes in Egypt, the tourism industry would not have been able to take advantage of these externally generated opportunities.
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46749126885
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The bulk of treasury bills in the late 1990s, about 80%, was held by the domestic commercial banks. Cf IMF archives, Arab Republic of Egypt-Recent Economic Developments, SM/97/290, Washington, DC: IMF, 1997, p 54.
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The bulk of treasury bills in the late 1990s, about 80%, was held by the domestic commercial banks. Cf IMF archives, Arab Republic of Egypt-Recent Economic Developments, SM/97/290, Washington, DC: IMF, 1997, p 54.
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