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Name of Three economic advisor's?
1. Vyshnegradsky
2. Witte
3. Stolypin
Years of Witte
up to 1903 for Finance and 1906 for Prime minister.
Years of Stolypin
up to 1911
Why did the Russian government encourage economic growth during the late nineteenth century?
- IMPACT OF CRIMEAN WAR-
External Factors:
1. Improve military capability
2. Increase in national prestidge
Internal Factors:
3. Reduce political discontent
increased wealth could be used to improve Russian army and navy
2. Increased national prestige
Russia worried it would be left behind by other European nations - Westernisers needed change.
Britain, France and Germany are industrialising but Russia is still medieval.
Improve living standards and prevent constant needs for political reforms.
How did the Russian government encourage industrial growth?
Through Capital (MONEY) > no exporters in Russia.
Government takes an active role to industrialise Russia and stimulate growth by state capitalism
How is the state capitalism achieved?
Taxing the peasants
Encouraging grain exports to bring in money
Foreign capitalists
What other measures were brought in to help the industry?
Protectionism: putting taxes on the imports of goods > good for infant industries
Putting the rouble on to the Gold Standard in 1897: prevents hyperinflation
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