Russian Economy
- Created by: englishlover108
- Created on: 13-12-18 13:16
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- Russian Economy 1894 to 1914
- Heavy Industry
- Witte, huge government led drive for economic growth
- Expansion of railways TSR
- Expansion of large factory units
- Encouragement to draw in foreign experts
- New rouble, interest rates were raised
- Consumer goods were neglected
- Modern technology was less developed than in the West
- Reliance on sheer man-power
- Agriculture
- Grain exports were increase
- Agriculture was subordinated to industry and was vastly under-modernised
- More individual land owning under Stolypin
- Stolypin's reforms never really took full effect and only 10% of land consolidated into private farms.
- Overall economic growth and government intervention
- Russia became the fifth largest industrialized economy
- Russia had the fifth largest railway network by 1914
- Inustries expanded; chemicals, rubber
- Russia never became fully self-reliant (used foreign investment and foreign ships)
- Witte's great spurt
- State budget more than doubled
- State revenue increased
- By 1900, 20% of the budget was spent on paying foreign debts
- The TSR was expensive to build and was of little economic value
- Western Siberia was developed for agriculture
- Agriculture
- Grain exports were increase
- Agriculture was subordinated to industry and was vastly under-modernised
- More individual land owning under Stolypin
- Stolypin's reforms never really took full effect and only 10% of land consolidated into private farms.
- Agriculture
- Industry grew by 8% a year
- Heavy Industry
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