Calling up the Reserves: Keynes, Tugan-Baranovsky and Russian War Finance
Abstract
The article is devoted to the problem of gold reserves of Russian Imperia during the World War I and its influence on the development of postwar world economy, especially for revolutionary crises in Russia. The aim of this article is to demonstrate how the opinions oi economists have influenced (and have been influenced by) the strategies being pursued by the government involved. This article investigates the debate that occurred over Russian gold reserves and currency issue in relation to the overall strategy of war finance adopted by the Allies. Some differences between the approaches of Keynes, Tugan-Baranovsky and Bark to war finance are noted, as are any modifications to their views that occurred over time.
Keywords:
history of economic thought
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Articles of the St Petersburg University Journal of Economic Studies are open access distributed under the terms of the License Agreement with Saint Petersburg State University, which permits to the authors unrestricted distribution and self-archiving free of charge.