1881-1914: Economic Change

Created by: poppycecilia
Created on: 14-04-15 17:49

Why did Russia's economy need modernising?

It was still based on agriculture, it was dependent on agricultural production escpecially grain, few worked in industry over 80% lived in the countryside, the cities were small - St. Petersburg had a population of under 1 million

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Why were the Tsars keen to industrialise Russia?

They wanted to maintain status as a great power as they had been in the early 19th century, they needed to compete with powers such as Germany and Britain

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Why was it significant that Russia didn't have a large middle class?

Industrial growth in other countries had been driven by a large middle class

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In 1897 Witte had the Rouble on the gold standard why was this important?

It guaranteed the value encouraging western countries to invest heavily in Russia industry

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Foreign investment in Russia increased from 200 million roubles in 1890 to...

approximately 900 million roubles in 1900

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Why was the Trans-Siberian railway essential?

It would open up the east empire, advancing the growth of new towns and cities, would provide links between new industrial centres, and help stimulate growth of iron and coal industries

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What were the pros of Witte's policies?

massive increasing in production (especially coal and iron), output from the Baku oil refineries increased tenfold 1883-1900, economy grew at 8% a year in 1890s

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What were the cons to Witte's economic policies?

the Trans-Siberian was only partially finished by 1914 and didnt increase migration much, taxes were raised in order to finance industrial developments, enormous debts, state control of industry meant the middle class grew slowly

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How was geography a hindrance to economic progress?

it made transport and communication virtually impossible but the empire was rich in natural resources

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Other cards in this set

Card 2

Front

Why were the Tsars keen to industrialise Russia?

Back

They wanted to maintain status as a great power as they had been in the early 19th century, they needed to compete with powers such as Germany and Britain

Card 3

Front

Why was it significant that Russia didn't have a large middle class?

Back

Card 4

Front

In 1897 Witte had the Rouble on the gold standard why was this important?

Back

Card 5

Front

Foreign investment in Russia increased from 200 million roubles in 1890 to...

Back

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1881-1914: Economic Change