I found this interesting article on AnteChamber:

No Chosen Race: “The ancient Egyptians left no evidence that the Israelites were ever in Egypt, and the Sinai Peninsula lacks any evidence of the large encampments required for so many people to have made during 40 years of living in the desert.

Authors Finkelstein and Silberman suggest in their book that it was Josiah, a descending king over a more developed Jerusalem who lived over 300 years after David, who ordered the transcription of the Old Testament stories. Josiah apparently believed, as have many great rulers since, that a national scripture was needed to cement a monotheistic religious orthodoxy. The Old Testament stories have continued to generate a national identity for the new Israel even today.”

“Amy Dockser Marcus, author of The View From Nebo: How Archaeology Is Rewriting the Bible and Reshaping the Middle East, notes that certain things like monumental structures, royal documents, or national scripture like the Old Testament, are almost always ‘a sign of state formation, in which power is centralized in national institutions like an official cult or monarchy.'”