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    I have some research to do about the effects of factors on Russia's economy around the turn of the century. Can anyone describe how Redemption payments, Overseas Trade, Agricultural development, and foreign investments effected the economy.
    Struggling to find any substantial information.
    Any help appreciated
    Thanks
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    Redemption payments, paid by former serfs to 'buy' their freedom, or reimburse the nobles for their loss during Emancipation. They affected the economy because a) serfs did not have a lot of spare money, as they were still paying these patments, and b) the mirs, peasant communes, were responsible for collecting the payments. They did not like peasants moving out of the commune, and so were a barrier to factories and cities. They kept the workforce in the countryside, where the government did not want it. Without the payments, the communes wouldn't really have minded where they went.

    Overseas Trade - encouraged by Vyshnegradsky and Witte, Russia's development of transport links made it a big exporter, especially of oil. The economy relied heavily on foreign investment, stimulated by Witte, so trade was very important. After getting onto the gold standard, Russia could trade effectively with foreign countries, and it had huge natural resources and workforce ready to be exploited to make huge export profits. Obviously the government wanted as much money as possible, so wanted trade to be as healthy as possible. Unfortunately, the policy was 'we ourselves shall not eat, but we shall export' and huge exports were balanced by poor living conditions in Russia for peasants and workers. They saw no benefit.

    Agricultural Development - both Vyshnegradsky and Witte neglected agricultural development in favour of industry, especially heavy. In reality, most of Russia's workers still lived on farms. There was little mechanisation and peasants still farmed the way they always had, making huge wastage of manpower and land. Agriculture was an 'untapped' resource, but neither finance minister was particularly interested in utilising it. Agricultural development was neglected by 1900, which also contributed to the problems of redemption payments.

    Foreign Investments - Witte had encouraged huge foreign investment in Russia - especially from France. Foreign investors saw 'state capitalism', the system of the state looking after industry to ensure it flourished, as a very safe bet. Huge oil reserves in the Caucasus attracted American investment. The huge amount of money pouring in helped the economy to take off, but also increased Russia's unhealthy reliance on foreign money. It also tied the government into 'state capitalism', as investors were relying on it to ensure their money was safe.

    Hope that helps, it is somewhat brief but make give you ideas/jog your memory.
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    (Original post by bobdat)
    Redemption payments, paid by former serfs to 'buy' their freedom, or reimburse the nobles for their loss during Emancipation. They affected the economy because a) serfs did not have a lot of spare money, as they were still paying these patments, and b) the mirs, peasant communes, were responsible for collecting the payments. They did not like peasants moving out of the commune, and so were a barrier to factories and cities. They kept the workforce in the countryside, where the government did not want it. Without the payments, the communes wouldn't really have minded where they went.

    Overseas Trade - encouraged by Vyshnegradsky and Witte, Russia's development of transport links made it a big exporter, especially of oil. The economy relied heavily on foreign investment, stimulated by Witte, so trade was very important. After getting onto the gold standard, Russia could trade effectively with foreign countries, and it had huge natural resources and workforce ready to be exploited to make huge export profits. Obviously the government wanted as much money as possible, so wanted trade to be as healthy as possible. Unfortunately, the policy was 'we ourselves shall not eat, but we shall export' and huge exports were balanced by poor living conditions in Russia for peasants and workers. They saw no benefit.

    Agricultural Development - both Vyshnegradsky and Witte neglected agricultural development in favour of industry, especially heavy. In reality, most of Russia's workers still lived on farms. There was little mechanisation and peasants still farmed the way they always had, making huge wastage of manpower and land. Agriculture was an 'untapped' resource, but neither finance minister was particularly interested in utilising it. Agricultural development was neglected by 1900, which also contributed to the problems of redemption payments.

    Foreign Investments - Witte had encouraged huge foreign investment in Russia - especially from France. Foreign investors saw 'state capitalism', the system of the state looking after industry to ensure it flourished, as a very safe bet. Huge oil reserves in the Caucasus attracted American investment. The huge amount of money pouring in helped the economy to take off, but also increased Russia's unhealthy reliance on foreign money. It also tied the government into 'state capitalism', as investors were relying on it to ensure their money was safe.

    Hope that helps, it is somewhat brief but make give you ideas/jog your memory.
    Thank-you so much :xmasgrin:
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    You're very welcome.
 
 
 
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