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Summary AQA A-Level Russian history rated A
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AQA A-Level Russian history rated A
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AQA A-Level Russian history rated ARussian economy: Consequences of neglect of agriculture - > 1891 famine 400,000
dead, expensive agricultural machinery, GDP per capital was 1/10 of Britain, 80%
peasantry, 'even if we starve we continue to export grain.'
> Government policy exemplified the effects of the famine, russian capital was
unjustly distributed making national growth difficult. A boom in population wasn't
supported equally by agriculture, while the government continued to export grain.
HOWEVER: There was latent potential for the economy to thrive
> One of the world's biggest producers of wheat and grain.
Themes: 'How important was the work of Vyshnegradsky and Witte in the
development of the Russian economy in the years 1881-1904.' - State
intervention, railway implementation, neglect of agriculture
Russian economy: Need for state intervention (1881-1904) - > Made the country
more attractive and stable to foreign investors, through state intervention into
economic foundations
> PREVIOUSLY: Not enough capital to facilitate mass industrialisation, lagging
behind European competitors, turbulent and changeable currency.
Russian economy: Consequences of state intervention - > Rouble adopts gold
standard (1897), by 1900 45% russian enterprises invested by foreign loans, high
, AQA A-Level Russian history rated A
tariffs, 5th largest economy (1901), 9% growth per annum (1890s), steel
production rose 800% (1890-1900)
> Investors felt safer investing into a more stable Russian fiscal system, heavy
industry grew substantially, more money circulated Russia, Russia was becoming a
major play in the world market
> HOWEVER: Still viewed as somewhat backward and corrupt so huge interest
rates on loans, rouble still had small fluctuations, loans gave the economy mass
debts to its competitors (mainly France), economy had little independence
> 20% of the economy was used to pay off foreign debt (1900)
Ruble adopts gold standard - 1897- Policy under Witte for increased foreign
investment
> Combats currency turbulence
> Gives fixed exchange rates
> Also backed by Germany and US
Policy of high tariffs - A policy to protect industries from foreign competition
> Companies in Russia bought more home produced materials, so reduced money
left Russia.
> Made everyday commodities more expensive (especially agricultural
machinery), causing discontent.
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