
Contents
-
-
-
-
-
-
-
-
The Wartime Economic Crisis The Wartime Economic Crisis
-
Crisis? What Crisis? Crisis? What Crisis?
-
Risk and Moral Hazard Risk and Moral Hazard
-
Geopolitics Geopolitics
-
Buying the Revolution Buying the Revolution
-
The French Connection The French Connection
-
Conclusion Conclusion
-
-
-
-
-
4 Investing in the Revolution
Get access-
Published:November 2018
Cite
Abstract
This chapter explores in detail the story of 1917 through the novel perspective of foreign bankers who were on the ground at the time and shows how and why some of the leading financiers in the world remained optimistic about Russia until the very eve of the Bolshevik coup. Three broad factors can be identified as contributing to the Western investment boom in the Russian markets from 1914 through late 1917. First, in contrast to later observers, many contemporary foreign investors did not perceive Russia as suffering from an economic crisis—even as late as 1917. Second, a remarkably high degree of risk appetite shaped investor decision making and was in turn the product of moral hazard from government guarantees and competitive pressures. Third, geopolitics and feelings of patriotism within the context of the First World War pushed investors to engage the Russian market in the hopes of advancing home-country interests. Finally, contemporary investors felt that by investing in Russia they were participating in the transformation of a society—a belief that would enable them to overlook much of the political instability and violence of the revolutionary events of 1917.
Sign in
Personal account
- Sign in with email/username & password
- Get email alerts
- Save searches
- Purchase content
- Activate your purchase/trial code
- Add your ORCID iD
Purchase
Our books are available by subscription or purchase to libraries and institutions.
Purchasing informationMonth: | Total Views: |
---|---|
October 2022 | 2 |
November 2022 | 2 |
August 2024 | 2 |
Get help with access
Institutional access
Access to content on Oxford Academic is often provided through institutional subscriptions and purchases. If you are a member of an institution with an active account, you may be able to access content in one of the following ways:
IP based access
Typically, access is provided across an institutional network to a range of IP addresses. This authentication occurs automatically, and it is not possible to sign out of an IP authenticated account.
Sign in through your institution
Choose this option to get remote access when outside your institution. Shibboleth/Open Athens technology is used to provide single sign-on between your institution’s website and Oxford Academic.
If your institution is not listed or you cannot sign in to your institution’s website, please contact your librarian or administrator.
Sign in with a library card
Enter your library card number to sign in. If you cannot sign in, please contact your librarian.
Society Members
Society member access to a journal is achieved in one of the following ways:
Sign in through society site
Many societies offer single sign-on between the society website and Oxford Academic. If you see ‘Sign in through society site’ in the sign in pane within a journal:
If you do not have a society account or have forgotten your username or password, please contact your society.
Sign in using a personal account
Some societies use Oxford Academic personal accounts to provide access to their members. See below.
Personal account
A personal account can be used to get email alerts, save searches, purchase content, and activate subscriptions.
Some societies use Oxford Academic personal accounts to provide access to their members.
Viewing your signed in accounts
Click the account icon in the top right to:
Signed in but can't access content
Oxford Academic is home to a wide variety of products. The institutional subscription may not cover the content that you are trying to access. If you believe you should have access to that content, please contact your librarian.
Institutional account management
For librarians and administrators, your personal account also provides access to institutional account management. Here you will find options to view and activate subscriptions, manage institutional settings and access options, access usage statistics, and more.