Problems Witte identified as Holding back Economic Developments

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  • Insufficient Capital
  • Lack of technical and managerial expertise
  • Insufficient manpower in the right places

Witte's Solutions

State Capitalism: Industrialisation needed to be directed 'from above'. It meant following the policies of his predecessor with protective tariffs, heavy taxation and force exports to generate capital

1. Home industries protected against foreign competition by high import tax, 1887 and 1891

  • Metal industry benefited most and Moscow textile industry
  • Textiles in St. Petersburg had to pay more for supplies of raw cotton
  • Higher tariffs increased Government revenue

2. Foreign investors encouraged…


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