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| Author: | Barnett, V. |
| Title: | Keynes and the non-neutrality of Russian war finance during World War One |
| Journal: | Europe-Asia Studies
2009 : JUL, VOL. 61:5, p. 797-812 |
| Index terms: | war financing russia costs |
| Language: | eng |
| Abstract: | This paper explores the particular methods of war finance that were used by Russia during the World War One in relation to the total cost of the war. It evaluates them against a theoretical ideal that was outlined by the economist J.M. Keynes. This study also considers whether there were any consequences of two particular chosen means of financing the war for maintaining Russian economic stability. The means of financing were the issue of large amounts of paper currency and short-term treasury bills. The evaluations of a number of Russian and British economists are used as gauges of Keynes's advice. |
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