XXᵉ siècle – XXᵉ siècle
Egypt
Traduction non disponible · Original (anglais) · français indisponible
Egypt’s import-substitution industrialization emerged after the country regained fiscal autonomy in 1930. Tariffs of 15–20 percent were imposed on consumer goods competing with domestic products, encouraging manufacturing growth. Industrial employment, sugar, cement, and textile production expanded during the 1930s, while Bank Misr and its affiliated companies mobilized Egyptian capital for large-scale industrial enterprises.
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The transition toward import substitution followed the crisis of the late 1920s. Falling international demand for raw materials, including cotton, produced severe deflation and intensified pressure for government intervention. Egypt’s deteriorating terms of trade, population growth beyond agriculture’s absorptive capacity, and shortages of imports during the First World War all encouraged a search for new industrial opportunities.
Fiscal autonomy in 1930 allowed the government to change customs policy. Tariffs of 15 to 20 percent were imposed on a broad range of consumer goods that competed with domestic production, and protection was later extended to all competing foreign goods. This marked the beginning of a new phase of economic growth based on import substitution rather than exclusive dependence on cotton exports.
Manufacturing employment grew substantially. In 1937, about 155,000 people worked in manufacturing establishments employing ten or more persons, compared with 30,000 in 1916. Production also increased: sugar output rose from 79,000 tonnes in 1917 to 159,000 tonnes in 1939, cement from 24,000 to 353,000 tonnes, and mechanically woven cotton cloth from 7.2 million square metres to 132.6 million.
Bank Misr became a major institutional force behind Egyptian industrialization. Founded in 1920 as the first wholly Egyptian-owned and managed bank, it pioneered large-scale manufacturing and redirected private capital away from land and property. By 1940, the Misr group contained twenty-one affiliated companies, and its industrial companies represented 45 percent of the increase in paid-up capital of joint-stock industrial companies during 1922–38.
XXᵉ siècle – XXᵉ siècle
Egypt
Traduction non disponible · Original (anglais) · français indisponible
Egypt’s import-substitution industrialization emerged after the country regained fiscal autonomy in 1930. Tariffs of 15–20 percent were imposed on consumer goods competing with domestic products, encouraging manufacturing growth. Industrial employment, sugar, cement, and textile production expanded during the 1930s, while Bank Misr and its affiliated companies mobilized Egyptian capital for large-scale industrial enterprises.
Poursuivre l’exploration
Le récit
The transition toward import substitution followed the crisis of the late 1920s. Falling international demand for raw materials, including cotton, produced severe deflation and intensified pressure for government intervention. Egypt’s deteriorating terms of trade, population growth beyond agriculture’s absorptive capacity, and shortages of imports during the First World War all encouraged a search for new industrial opportunities.
Fiscal autonomy in 1930 allowed the government to change customs policy. Tariffs of 15 to 20 percent were imposed on a broad range of consumer goods that competed with domestic production, and protection was later extended to all competing foreign goods. This marked the beginning of a new phase of economic growth based on import substitution rather than exclusive dependence on cotton exports.
Manufacturing employment grew substantially. In 1937, about 155,000 people worked in manufacturing establishments employing ten or more persons, compared with 30,000 in 1916. Production also increased: sugar output rose from 79,000 tonnes in 1917 to 159,000 tonnes in 1939, cement from 24,000 to 353,000 tonnes, and mechanically woven cotton cloth from 7.2 million square metres to 132.6 million.
Bank Misr became a major institutional force behind Egyptian industrialization. Founded in 1920 as the first wholly Egyptian-owned and managed bank, it pioneered large-scale manufacturing and redirected private capital away from land and property. By 1940, the Misr group contained twenty-one affiliated companies, and its industrial companies represented 45 percent of the increase in paid-up capital of joint-stock industrial companies during 1922–38.