Jump to ContentJump to Main Navigation
Bankers and Bolsheviks$
Users without a subscription are not able to see the full content.

Hassan Malik

Print publication date: 2018

Print ISBN-13: 9780691170169

Published to Princeton Scholarship Online: May 2019

DOI: 10.23943/princeton/9780691170169.001.0001

Show Summary Details
Page of

PRINTED FROM PRINCETON SCHOLARSHIP ONLINE (www.princeton.universitypressscholarship.com). (c) Copyright Princeton University Press, 2022. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in PRSO for personal use.date: 25 June 2022

The Interrevolutionary Recovery and Rally

The Interrevolutionary Recovery and Rally

(p.85) 3 The Interrevolutionary Recovery and Rally
Bankers and Bolsheviks

Hassan Malik

Princeton University Press

This chapter explores Russia's rapid recovery from the strains of revolution and war, and the impact of its return to war in 1914. It argues that this interrevolutionary rally is a striking and curious phenomenon that flies in the face of existing theories that suggest political instability and violence are bad for markets. In exploring the archival record, the chapter shows that investor perceptions of improvements in the real economy, a geopolitical realignment, and factors operating at the level of financial gatekeepers all contributed to the interrevolutionary rally. Yet despite the improving economic indicators and rising security prices, Russia's economy and financial system became increasingly fragile in the decade from 1906 to 1916. Paradoxically, were it not for the fiscal stimulus provided by the armaments buildup that preceded the First World War and the outbreak of the war itself, the Tsarist regime could have faced a potentially disastrous financial crisis in 1913–14.

Keywords:   interrevolutionary rally, political instability, violence, Russian financial system, Russian economy, armaments buildup, First World War

Princeton Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us.