Foreign Industrial Companies In The Terek Region In 19th –20th Centuries
Abstract
The paper studies the role of foreign capital in the industry of the Terek region in the late 19th – early 20th centuries. In the mid-90s of the 19th century, the inflow of foreign capital to Russia had intensified. Foreigners were attracted by the possibility to obtain more profits than in Western Europe. The termination of fluctuations in the ruble exchange rate in connection with the preparation of the monetary reform played important role. The government policy of S.Yu. Witte, the Minister of Finance, was directly focused on attracting foreign capital to industry. In 1896, with the consent of the government, a mixed Russian-Belgian Mining and Chemical Society “Alagir” was established with the participation of Brussels and Liege banks. Belgian capital amounted to 80 % of all shares. The Grozny oil region was one of the largest oil production centers in the world. In the second half of the 1890s in the Grozny oil industry there were new capitals – the Rothschild Caspian-Black Sea Company, the French Russian Standard, the English joint-stock company Kazbek Syndicate and the North Caucasian Oil Industrial Company, the Anglo-Dutch company Shell, Spies, the Nobel firm, the Belgian firm “Akhverdov”. Before the First World War, 45.1 % of the capital in the Grozny oil industry was English and Dutch, 28.1 % was French and Belgian. The paper reveals the industry-based distribution of foreign capital in the Terek region and the composition of entrepreneurs and firms.
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About this article
Publication Date
29 November 2021
Article Doi
eBook ISBN
978-1-80296-116-4
Publisher
European Publisher
Volume
117
Print ISBN (optional)
-
Edition Number
1st Edition
Pages
1-2730
Subjects
Cultural development, technological development, socio-political transformations, globalization
Cite this article as:
Gaitamirova, S. A., & Ozdamirova, E. M. (2021). Foreign Industrial Companies In The Terek Region In 19th –20th Centuries. In D. K. Bataev, S. A. Gapurov, A. D. Osmaev, V. K. Akaev, L. M. Idigova, M. R. Ovhadov, A. R. Salgiriev, & M. M. Betilmerzaeva (Eds.), Social and Cultural Transformations in The Context of Modern Globalism, vol 117. European Proceedings of Social and Behavioural Sciences (pp. 2019-2025). European Publisher. https://doi.org/10.15405/epsbs.2021.11.267