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Related Flashcards
Cards In This Set
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What were the problems with the Russian economy?
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1) The size of russia and its underdeveloped transport system - undeveloped industry
2) Abscence of an effective banking system. No capital 3)Slow economic development |
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What were his aims?
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- To develop industry- To catch up with Europe-To raise money for the armed forces
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What was his first policy?
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State Capitalism - Foreign loans and investments- Imposed heavy taxes and interest rates at home- Encouraged the inflow of foreign capital- Imposed tarriffs on foreign goods to keep prices high- Put Gold standard on the rouble
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Describe the successes and failures of this policy
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Success-The gold standard stabilized the economy-Production of coal, iron, oil and grain increased-Growth of national product increased
Failure-made Russia too dependent on foreign loans-neglected other needs, such as agriculture |
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What was his second policy?
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Railways - he believed the modernisation of the economy depended on an effective railway system.- He wanted to encourage workers to migrate from east to the newly industrial west-He hoped it would boost exports and foreign trade-The Trans-Siberian railway became his own special project
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What were the successes and failures of this project?
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Success- The railway became an impressive synbol of Russian enterprise-Growth of railway increased..-Production of pig iron, coal etc. increased
Failure-It was not completed until 1914-It failed to improve worker migration |
