Discussion on Paper Currency among Russian Economists during the Great War (1914–1917) with Special Emphasis on Tugan-Baranovsky’s Contributions
World War I marked the final point of the continuous process of fiduciarisation of money, of the detachment from its substance, the final point of establishing « Russian type of ideal money ». Paper currency was a Russian tradition, since 1769, until the introduction of the gold standard in 1897. The war brought back the dominance of the paper currency. In this paper, I will consecutively dwell on: (i) the role of paper currency and loans during the war and the discussions among the leading Russian economists as regards the evolution of the monetary regime. I will then examine, (ii) Tugan’s business cycle (conjunctural) theory of the value of money associated with aggregate demand, and especially with the development of the model of money demand and its endogeneity, and finally (iii) on Tugan’s proposals for managed paper currency by controlling the exchange rate.
The book is a part of the large project and the serial publication "Russia`s Great War and Revolution". It`s the vol. 3 book 2 of this large publication. Series general editors are Anthony Heywood, David MacLaren McDonald, and Jihn W. Steinberg. The volume "Home Front" presents original research by an international group of scholars on the social history of Russia across the period of World War I, the 1917 revolutions, and the Civil War.
The article consifders the transportation priorities of Viktor Shklovsky demonstrated in his memoir book "Sentimental Journey" and justifies a hypothesis that the protagonist's usage of different means of transport correlates with the structure of the text, i. e. works as a trigger of narration.
The chapter examines the origins of Jewish pogroms during the Civil War in Russia (1918-1921), shows the genetic connection between the "military pogroms" of the World War I and pogroms of the Civil War. Among other issues, the article analyzes the motive of a "shot in the back" as a pretext for pogroms.
In The Baron's Cloak, Willard Sunderland tells the epic story of the Russian Empire's final decades through the arc of the Baron's life, which spanned the vast reaches of Eurasia. Tracking Ungern's movements, he transits through the Empire's multinational borderlands, where the country bumped up against three other doomed empires, the Habsburg, Ottoman, and Qing, and where the violence unleashed by war, revolution, and imperial collapse was particularly vicious. In compulsively readable prose that draws on wide-ranging research in multiple languages, Sunderland recreates Ungern’s far-flung life and uses it to tell a compelling and original tale of imperial success and failure in a momentous time.
This article considers the evolution of the Russian university system during the First World War. Most of the imperial period, until the end of 1916, thanks to the liberal policy of the Minister of People’s Education, Pavel Nikolayevič Ignat’ev, a reformist course was implemented (drafting of a new statute, increasing the autonomy of universities). Particularly important and promising was the expansion of universities’ network and opening of new universities in Rostov-on-Don, Perm, as well as the expansion of Saratov and Tomsk universities. In 1917 Ministers of Education of the Provisional Government (A. Manuilov, S. Oldenburg, S. Salazkin) also followed the Ignat’ev’s liberal course received support with the bottom-up initiatives (introduction of regular institution of associate professors, attracting of younger lecturers to the university management). Paradoxically, for the university system the result of crisis which lasted through the war period and the beginning of the revolution marked the democratization of management and the expansion of the students’ enrollment and the number of universities.
The collection of papers written by Slavic philologists, (cultural and art) historians, philosophers is devoted to the 100th anniversary of WWI and traces its reflections and references in European culture of the XX-XXI c.
The article provides a comparison of two intellectual accounts of experiences in the First World War – From the Letters of an Artillery Ensign (1918) by the Russian philosopher and writer Fjodor Stepun and The Storm of Steel (1920) by the German essayist Ernst Jünger. The aim of this article is to reveal similarities and differences between “optics” of Jünger and Stepun who are reporting one and the same event but deal with two different images of the Great War.
The paper examines the structure, governance, and balance sheets of state-controlled banks in Russia, which accounted for over 55 percent of the total assets in the country's banking system in early 2012. The author offers a credible estimate of the size of the country's state banking sector by including banks that are indirectly owned by public organizations. Contrary to some predictions based on the theoretical literature on economic transition, he explains the relatively high profitability and efficiency of Russian state-controlled banks by pointing to their competitive position in such functions as acquisition and disposal of assets on behalf of the government. Also suggested in the paper is a different way of looking at market concentration in Russia (by consolidating the market shares of core state-controlled banks), which produces a picture of a more concentrated market than officially reported. Lastly, one of the author's interesting conclusions is that China provides a better benchmark than the formerly centrally planned economies of Central and Eastern Europe by which to assess the viability of state ownership of banks in Russia and to evaluate the country's banking sector.
The paper examines the principles for the supervision of financial conglomerates proposed by BCBS in the consultative document published in December 2011. Moreover, the article proposes a number of suggestions worked out by the authors within the HSE research team.