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Egypt Since 1800: A Study in Lop-sided Development

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  • Issawi, Charles

Abstract

One of the main points at issue between economists from advanced and those from underdeveloped countries is the role of foreign trade in economic development. The former see in the expansion of foreign trade the main motive power of development, while the latter pin their hopes on other sectors, notably manufacturing. The answer would seem to be that foreign trade is a necessary but not a sufficient condition of development. Economic growth of underdeveloped countries can be achieved most smoothly if they can build up a substantial export trade that is sufficiently closely linked to the rest of the economy to exert upon it some form of multiplier effect so that a rise in exports leads to a more general and diffused expansion. In other words, over a long period of development, foreign trade is the engine that provides the motive power, but this engine cannot move the economy unless it is provided with adequate transmission lines. Or, to change the metaphor, other branches of the economy can be vivified and developed by grafting on to them some of the capital created and the skills generated in foreign trade.

Suggested Citation

  • Issawi, Charles, 1961. "Egypt Since 1800: A Study in Lop-sided Development," The Journal of Economic History, Cambridge University Press, vol. 21(1), pages 1-25, March.
    • Handle: RePEc:cup:jechis:v:21:y:1961:i:01:p:1-25_11
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    Cited by:

    1. Daron Acemoglu & Tarek A. Hassan & Ahmed Tahoun, 2018. "The Power of the Street: Evidence from Egypt’s Arab Spring," The Review of Financial Studies, Society for Financial Studies, vol. 31(1), pages 1-42.
    2. Alam, M. Shahid, 1998. "Colonialism and Industrialization: Empirical Results," MPRA Paper 37866, University Library of Munich, Germany, revised 2012.
    3. Laura Panza, 2014. "De-industrialization and re-industrialization in the Middle East: reflections on the cotton industry in Egypt and in the Izmir region," Economic History Review, Economic History Society, vol. 67(1), pages 146-169, February.
    4. Tarik M. Yousef, 2002. "Egypt's Growth Performance Under Economic Liberalism: A Reassessment with New GDP Estimates, 1885-1945," Working Papers 0211, Economic Research Forum, revised 11 Apr 2002.
    5. Ulaş Karakoç, 2018. "Industrial growth in interwar Egypt: first estimates, new insights," European Review of Economic History, European Historical Economics Society, vol. 22(1), pages 53-72.
    6. Alawattage, Chandana & Alsaid, Loai Ali, 2018. "Accounting and structural reforms: A case study of Egyptian electricity," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 50(C), pages 15-35.

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