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Economic reform under Witte 1893-1903
Description
Mind Map on Economic reform under Witte 1893-1903, created by eveannesley on 21/05/2014.
Mind Map by
eveannesley
, updated more than 1 year ago
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Created by
eveannesley
about 10 years ago
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Resource summary
Economic reform under Witte 1893-1903
aims
to modernise Russia so that it could compete with the West
tsar's aims:
to improve the strength of the Russian armed forces
'Russia has the right and strength not to want to remain the handmaiden of states that are more developed economically'
Methods Witte used
state capitalism
acquire capital for investment in industry
large loans/ investment abroad
heavy taxes and high interest rates at home
protective tarriffs
1897: gold standard
financial stability to encourage international investment
invited foreign experts/workers to advise
railways
Witte believed modernisation was reliant on an effective transport system
1881: 13,270 miles of track
1913: 43,850
Transiberian railway 1891-1902
Moscow --> Vladivostok
connected remoter regions of empire to industrial west to encourage migration of workers
Successes/Failures
Successes
1890: Coal=5.9 millions of tons, Oil=3.9
1910: Coal= 26.8, Oil= 9.4
1898-1913 96.8% growth
Considering level of backwardness
Failures
made Russia dependent on foreign loans
gave priority to heavy industry so neglected other industry/ agriculture
disliked/distrusted by tsar, dismissed in 1906
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