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Economic Change 1881-1914 (Railways/Foreign investment (Trans-Siberian…
Economic Change 1881-1914
Modernisation
1881 - based on agriculture
dependant - especially grain
80% of population lived in the countryside
Russian cities were small
Industrialisation
Why?
growing population/pressure on landholdings
Maintain status of Russia as a great power
Railways/Foreign investment
Trans-Siberian railway
advanced the growth of towns and cities
Railway linked western Russia to new industrial centres
railway linked oil refinery of Baku
Stimulate the growth of oil and coal
Witte put rubble on gold standards
encouraged GB and France to invest
Foreign investment increased up to 900 million roubles in 1900
Sergi Witte
Positive
Increase in coal and iron
Baku oil increased tenfold between 1883 and 1900
Economy grew around 8% per year
Negative
Trans-Siberian railway was built to encourage migration/however was only partially built
Raised taxes
Taxes squeezed the peasants so less spent on consumer goods
Gov ran up debts
Witte didn't improve agriculture but that was where 80% of the taxes were coming from