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Lecture: Crony Capitalism: An Egyptian Focus Study by Ishac Diwan and Discussant Amer Bisat

Thu, January 23, 2014 7:00 pm at Alwan for the Arts

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Crony Capitalism: An Egyptian Focus Study by Ishac Diwan and Discussant Amer Bisat

Free and open to the public

Recent research on cronyism in Egypt has quantified the impact of favoritism on economic performance. Using data on large industries in Egypt, Diwan identifies a large number of politically connected firms elucidating their sectoral dominance and the impeding effects cronyism has on socioeconomic relations. In addition, Diwan reviews the impact of the 2011 uprisings and the role that corrupt economic practices plays in forestalling political and social transformation.

The results of his analysis suggest that cronyism halted economic growth and affected political transparency. The lecture offers a novel entry point to discuss the root causes for the failure of authoritarian regimes to put their countries on a solid development path.

Ishac Diwan is currently a lecturer on public policy at the Harvard KennedySchool of Government. He is also the director for Africa and the Middle Eastat the Center for International Development at Harvard, directs the research program on the "Economic and Political Transformation of the Arab World" for the Economic Research Forum for the Arab Countries, Iran, and Turkey, and is a member of the Global Economic Council of the World Economic Forum on the "Arab World". Ishac got his PhD in Economics from the University of California at Berkeley. He has published extensively on issues related to international finance, development, and political economy, with a focus on Africa and the Middle East. He is also a practitioner - he recently served as the World Bank Country Director for East Africa (2000-2005), and West Africa (2005-2010).

Discussant: Amer Bisat is a Managing Director at BlackRock focusing on Emerging Markets fixed income investments. Between 1991 and 1998, he was a senior economist at the International Monetary Fund, where he helped negotiate high profile programs, including with Russia. Mr. Bisat holds a PhD in economics and finance from Columbia University where he was also an Adjunct professor of international monetary theory. Columbia University Press published his book "Covering Globalization" (co-authored with Anya Schifrrin). He is currently the President of the Board of the Arab Banking Association of North America (ABANA) and sits on the Boards of the Arab American National Museum and Alwan for the Arts.

This Event is Supported by ABANA

The Arab Banker's Association of North America

Last updated: 2014-01-14 14:12:45

Ishac Diwan
Ishac Diwan
Amer Bisat
Amer Bisat

Alwan for the Arts

16 Beaver Street, 4th Floor
(between Broad St. and Broadway)
New York, NY 10004
(646) 732-3261

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