Impact of Grain Export on the Russian Empire’s Industrial Development in the Late 19th and Early 20th Centuries

Natalia Rozinskaya and Anna Arkhina ()
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Anna Arkhina: Utrecht University

No 34, Working Papers from Moscow State University, Faculty of Economics

Abstract: This paper deals with the problem of the grain export impact on Russia’s industrial development in the late 19th and early 20th century. Authors estimated VECM models to analyze how grain export affected industrial growth. It was concluded that grain export had a long-term negative impact on industry growth in Russia. There are four possible channels of influence: through consumption, through savings, through the distribution of labor and through investment. The authors considered the investment-related channel of influence and concluded that grain export had a negative long-term impact on industrial capital. Their argument stems from the fact that at the end of the 19th and beginning of the 20th century, grain exporters were predominantly small, export profits were widely dispersed among intermediaries and traders preferred to invest not in Russia but elsewhere.

Keywords: grain export; foreign trade; industrial development; Russia Empire; VECM (search for similar items in EconPapers)
JEL-codes: N13 N5 (search for similar items in EconPapers)
Pages: 44 pages
Date: 2021-04
New Economics Papers: this item is included in nep-cis, nep-his and nep-int
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Persistent link: https://EconPapers.repec.org/RePEc:upa:wpaper:0034

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