Reutern reforms 1862-78

?
View mindmap
  • Reutern Reforms
    • Treasury reforms
      • new tax collection arrangements
      • auditing accounts of govt. depts
      • publishing budgets
    • Abolishment of tax farming + reform of tax system to include more indirect taxation
    • Extended bank + credit facilities
      • State bank 1860
      • Municipal banks 1862
      • Saving banks 1869
    • Promotion of trade
      • reduction of import duties from 1863
    • govt. subsidies offered to private entrepreneurs
      • development of railways
    • Encouragement of foreign investment in Russia govt.
      • guaranteed annual dividend
    • Encouragement of ‘safe’ investment
      • Legislation regulated joint stocking companies
    • effects
      • Forced former tax farmers to look elsewhere to invest, opportunities provided by govt. subsides and trade treaties encourage enterprise
      • Use of foreign technical expertise an capital supported industrial expansion + railway network saw marked expansion
      • Annual average growth rate of 6%
    • why?
      • boost economy for funds for industrial growth
    • Why didn't economy grow despite improvements from Reutern's reforms?
      • 1/3 govt. expenditure went to repayment of debts
      • Russian Currency subject to wild variations in value
      • limitations of Emancipation Edict + taxation system left 66% of govt. revenue coming from indirect taxation
        • kept peasantry poor + domestic market small
      • tariff reductions menat decline in govt. revenues + decisions taken to raise these in 1878

Comments

No comments have yet been made

Similar History resources:

See all History resources »See all Russian economics resources »