By David B. O'Connor
“O’Connor provides the wealthy culmination of his lengthy labors during this quantity sure to attract students and Egyptophiles alike.”—KMTThe historical web site of Abydos lies among the towering cliffs of the Egyptian excessive wilderness and the plush eco-friendly floodplain of the Nile. As either the burial position of the first kings of Egypt and a cult heart for Osiris, god of the useless, this sacred sector has lengthy tantalized archaeologists with very good reveals. With over 40 years’ event of excavation and study at Abydos, David O’Connor is in an unmatched place to supply the main authoritative and up to date account of this designated Egyptian website. the following, for the 1st time, Professor O’Connor now not basically explains the complicated heritage of Abydos but in addition vividly conjures up the ability that the sacred panorama held for modern Egyptians. This fantastically illustrated ebook should be of curiosity to somebody who has ever questioned in regards to the origins of 1 of the maximum civilizations in international background. 15 colour, one hundred twenty five b&w illustrations
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Additional resources for Abydos: Egypt's First Pharaohs and the Cult of Osiris (New Aspects of Antiquity)
The interest rate differentials would make it attractive for banks to borrow in US dollars and lend in local currency, but this makes them vulnerable to a currency devaluation. Cross-country experiences show that foreign exchange exposure increases substantially when banks are intermediating between local and foreign currencies. Egyptian banks now have sufficient liquidity in foreign exchange assets, but their recent success in mobilizing financing from international markets highlights a likely growing trend.
The second, fiscal stringency, should be maintained as a cornerstone in managing capital inflows and to keep the fiscal deficit at its already very low level. However, substantial further tightening would risk Page xv eroding the economic recovery by unnecessarily contracting aggregate demand. In any case all the obvious cuts in expenditure have already been made. The measures now proposed would complement fiscal stringency in managing capital inflows. They are suggested because the recovery to date has been associated with real exchange rate appreciation and domestic interest rates persistently higher than rates on major foreign currencies.
However, the change in the international prices of oil notwithstanding, the income derived from extracting oil and gas is bound to decline as the reserves are being gradually depleted. Other forms of capital will have to be created to replace the income from oil and gas if the growth of national income is to be maintained. ) and natural resources (oil and gas, and so forth). For this reason, the concept of genuine saving has been developed (World Bank 1997). Genuine saving, simply defined, is gross national saving, less depreciation of capital stock, and less depletion of natural resources.