Magda Kandil - Economic Research Forum (ERF)

Magda Kandil

Research Fellows

Chief Economist and Director of Research, Central Bank of the United Arab Emirates

Areas of Interest:

  • Monetary Economics
  • Macroeconomic Theory
  • International Economics


  • Ph.D., Economics, Washington State University, Pullman, Washington, 1988
  • M.B.A., Indiana University in South Bend, Mishawaka, Indiana, 1984
  • M.A., Economics, University of Notre Dame, Notre Dame, Indiana, 1982


  • Chief Economist and Director of Research, Central Bank of the United Arab Emirates, Abu Dhabi, United Arab Emirates, September 2014-present
  • Senior Economist, Eastern II Division, The African Department, IMF, Washington D.C., September 2013-August 2014
  • Senior Economist, Caribbean II Division, The Western Hemisphere Department, IMF, Washington D.C., July 2012-August 2013

Latest Publications:

  • “Monetary Policy and Co-movements in Spending, Growth and Inflation: Evidence from Developing and Advanced Countries,” Istanbul Borsa Review,(forthcoming).
  • “The Interaction between Globalization and Financial Development: New Evidence from Panel Co-Integration and Causality Analysis,” joint with Muhammad Shahbaz and Samia Nasreen, Empirical Economics,(forthcoming).
  • “The Adverse Effects of Real Exchange Rate Variability in Latin America and the Caribbean,” Journal of Applied Economics, (forthcoming).
  • “Government Spending Decomposition and Growth in Egypt,” joint with Mohamed Hassan, Middle East Development Journal,(2014).
Working Papers

Fiscal Consolidation and UAE Vision 2021: A Small Scale Macroeconomic Model Approach

Given the persistence of low oil prices, which has become the new norm, and the ... read more

Working Papers

The Impact of Ownership on Corporate Performance: The Case of the UAE

This study attempts to identify whether government ownership has an effect on corporate performance, such ... read more

Working Papers

A Comparative Analysis of Exchange Rate Fluctuations and Economic Activity: The Cases of Egypt and Turkey

Abstract The paper examines the effects of exchange rate fluctuations on real output, the price level, and ... read more

Working Papers

The Impact Of Capital and Remittance Flows on Economic Performance in MENA Countries

Abstract Using data for a sample of developing countries, we analyze the effects of external flows, namely ... read more

Working Papers

The Impact of Capital Requirements on Banks’ Cost of Intermediation and Performance: The Case of Egypt

Abstract In 1991, the Central Bank of Egypt increased the minimum capital requirements for the banking industry ... read more


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