Economic Development of Russia to 1914 Flashcards
Why was the new rouble introduced by Witte in Jan 1897? (2)
- strengthen currency
- encourage foreign confidence and investment
What % of foreign capital did Germany give to Russia?
20%
How much foreign investment did R receive in 1895?
280 mil roubles
How much foreign investment did R receive in 1900?
911 million roubles
How much foreign investment did R receive in 1914?
2000 million roubles
What did Witte seek to stage manage? (2)
- industrial growth
- seeking capital, technical advisers, managers and skilled workers from overseas
What % of foreign capital did Britain give to Russia?
23%
What did Witte introduce in Jan 1897?
new rouble (backed by value of gold)
What was R’s capital mainly used for? (2)
- fund public works
- develop R’s infrastructure
In early 20th cen, what did the state hold extensive holdings in?
growing ‘heavy industrial plant’
Why did Gerschenkran name the late 1890s as ‘the great spurt’?
industrial economy progressed more in on decade than it had in previous century
What happened to R’s economy during mid 1890s?
underwent major transformation
During 1894-1913, what was the annual growth rate p.a?
more than 8%
Who is credited for the impressive expansion?
Sergei Witte - built on policies esatblished by Ivan Vyshnegradsky
Who built upon Vyshnegradsky’s policies?
Witte
Under Witte’s tenure, what virtually doubled?
railway trackage
Under who, did F.I soar?
Sergei Witte
What country supplied 1/3 of all R’s foreign capital?
France
How much did Bel (%) give to R? (F.C)
14%
In the early 20th cen, what % of R;s railways did the State control?
70%
By end of 20th century, what is he fraction of State buying of all R’s metallurgical production?
almost 2/3
After 1905, what else was capital used for? (2)
- compensate for losses of R-J war
- re-equip army
What is the % of income from industrial investment received (1903-1913)?
25%
What is the name economic historian’s name that named the late 1890s as ‘the great spurt’?
Alexander Gerschenkran
