Abstract:
Following the Turkish War of Independence at the beginning of the twentieth century, the new government of the late-late developing country engaged in industrialization. In the absence of adequate ac-cumulation of private savings and capital, a state-owned universal bank, Sümerbank acted as a state-agent of industrialization. It fi-nanced industrialization as well as regional economic development establishing industrial plants in different towns. Meanwhile, Turkey would receive technical and financial assistance from Russia. Simul-taneously, the government was engaged in a social engineering cam-paign aimed at Westernization of the society. This paper puts these early Turkish industrialization attempts and industrial-cum-social engineering policies into perspective. The Sümerbank's industrial plants served as state-driven nuclei of industrial clusters in various underdeveloped parts of Turkey. In the course of time, these towns became growing industrial centres of private enterprise. The Sümerbank industrial enterprises also served the Westernization-based social engineering objectives of the new government. © 2022 ‘Uchitel’ Publishing House