ABSTRACT
Crony capitalism literature captures an essential dynamic of state–business relations in contemporary Egypt. At the same time, it downplays the extent to which economic reforms have altered the structure of the Egyptian economy. This chapter integrates this dominant view on state–business relations in Egypt within a global approach that sees neoliberal restructuring as functional to a process of subordinate integration in the world economy. In doing so, the chapter presents three main findings. First, the hollowing of the state’s economic capacity has continued apace irrespective of the ebbs and flows of revolution and counterrevolution. Second, while this might have at some points empowered some business groups vis-à-vis the state, it has not diminished their dependence on external patrons. Third, among the latter, Arab Gulf monarchies have taken a more prominent role, adding another layer of dependence and subordination to how Egypt is integrated in the global political economy.
