Industrialization of Russia Questions from Textbook

1. How industrialized was Russia by 1904?

Russia was extremely industrialized. By 1904 it had become the world’s fourth largest economy, and had, between 1894 and 1904, experienced the highest industrial growth of any country in the world

2. How successful were the finance ministers of this period 1886-1903 in transforming Russia economically?

The finance ministers Vyshnedgransky and Witte were extremely successful in transforming Russia economically during this period. As a consequence of their reforms, industrial output grew exponentially as did the harvesting of natural resources. The development of the railway system also allowed for raw materials and finished products to be transported easily and linked both industrial areas and agricultural areas with markets.

That said, the reforms were bought at a price (particularly among the peasants and urban workers) and led to a growing dependence on foreign loans.

How important was the spread of the railway network to the growth of the Russian economy by 1904?

The railway network - particularly the Trans-Siberian express, played a key role in the growth of the industrial economy in Russia in this period. Its construction, which itself required huge amounts of heavy industrial production, oil and coal, allowed for the transport of both raw materials and finished products. It also connected both industrial areas and agricultural areas with markets. The transport of freight and passengers also provided large revenues.