Egypt - Aspiring to become a Banana Republic
Typically, when economists refer to a banana republic, we are attempting to describe the attributes of a small country that is economically dependent on a single export commodity, such as bananas. And, one primary attribute of a banana republic is that it’s typically governed by a dictator usually from the armed forces. Egypt was such a country under the tenure of our former President, but it lacked the single export commodity, such as bananas, to fully complete the picture
