Academic Journal
The Impact of Markets and Roads on the Domestic and Foreign commercial Financial Transactions in Egypt during Greco Roman Period.
| Title: | The Impact of Markets and Roads on the Domestic and Foreign commercial Financial Transactions in Egypt during Greco Roman Period. |
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| Authors: | Fadel, Doaa Ragab |
| Source: | International Journal for Tourism, Archeology & Hospitality (IJTAH); Jan2023, Vol. 3 Issue 1, p279-329, 51p |
| Abstract: | Domestic trade was played an important role in ancient Egypt. Control of trade and exchange networks were important sources of power and wealth. Trade began in the Predynastic period in ancient Egypt and continued through Roman Egypt. Foreign trade with other lands attracted covetous attention from abroad. Temples in ancient Egypt used agents for internal trade and local markets flourished. A s well as trade and communication between the Pharaoh and foreign rulers established Egypt as a powerful unified nation in the ancient world. In addition, ancient Egypt traded goods with other countries such as Asia Minor and Arabia. Egypt's ingenuity in building and sailing boats was vital to the land's economic and political strength. Egypt and its neighbors through the Ptolemaic period used the economic and artistic exchange system. The economy of the Roman Empire was an exchange economy. The currency was not known in Egypt until after the fourth century B.C when it was introduced from Greece. Ancient Egypt knew the currency system only in late times. Ancient Egypt's economy operated on a barter system without cash. Social change that the Ptolemais introduced in Egypt such as coinage. Therefore, the Greco Roman world indicates clear historical correlations between monetization and the developments of markets. The Ptolemaic initially issued gold, silver and bronze coins. As well as Egypt played an important part of the Roman administration, because of the economic importance of its agricultural resources, its geographic location on trade routes from the Red Sea and Nubia. Taxation was a part of trading arrangements so the trade was important in the country's income, as well as ancient records mentioned ancient transaction documents of trade. Ptolemaic tax receipts are generally Greek, Demotic receipts are found as well as Greek receipts with Demotic subscriptions showing native scribes at work in the bank. Alexandria great harbor had a paramount trade, military and political value both for the city and for the country as a whole. Under Romans, one of the major changes was taxation. In both Ptolemaic and Roman Egypt, public registers played an effective role in trade. Under Ptolemaic and Romans Alexandria became an important transshipment center. As well as under Roman rule Egypt became the main conduit for seaborne trade in products from India such as spices and incense. Eastern desert of Egypt and the red sea were strategically and economically important. Under Roman rule, a number of ports along the Egyptian red sea coast and routes across the eastern desert were established. The Nile River was essential for the development of internal and foreign trade and for contacts with abroad. During the Hellenistic period, the Nile was linked with the red sea by an artificial canal. [ABSTRACT FROM AUTHOR] |
| Subject Terms: | TAXATION of securities trading, FINANCE, PHARAOHS, MONETIZATION, SOCIAL change |
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| ISSN: | 28126033 |
| Database: | Complementary Index |
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