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Following an unprecedented economic boom fed by foreign investment, the Russian Revolution triggered the worst sovereign default in history. Bankers and Bolsheviks tells the dramatic story of this boom and bust, chronicling the forgotten experiences of leading financiers of the age.Shedding critical new light on the decision making of the powerful personalities who acted as the gatekeepers of international finance, Hassan Malik narrates how they channeled foreign capital into Russia in the late nineteenth and early twentieth centuries. While economists have long relied on quantitative analysis to grapple with questions relating to the drivers of cross-border capital flows, Malik adopts a historical approach, drawing on banking and government archives in four countries. The book provides rare insights into the thinking of influential figures in world finance as they sought to navigate one of the most challenging and lucrative markets of the first modern age of globalization.Bankers and Bolsheviks reveals how a complex web of factors-from government interventions to competitive dynamics and cultural influences-drove a large inflow of capital during this tumultuous period in world history. This gripping book demonstrates how the realms of finance and politics-of bankers and Bolsheviks-grew increasingly intertwined, and how investing in Russia became a political act with unforeseen repercussions.

Finance --- Revolution (Soviet Union : 1917-1921) --- 1917-1921 --- Soviet Union --- Soviet Union. --- Economic conditions. --- Foreign economic relations. --- History --- 1905 Revolution. --- 1906 loan. --- 1918 Bolshevik default. --- Bolshevik Revolution. --- Bolshevik coup. --- Bolshevik ideology. --- Bolsheviks. --- First World War. --- Panic of 1907. --- Russian Empire. --- Russian Government Loan of 1906. --- Russian Revolution. --- Russian debt. --- Russian economy. --- Russian financial system. --- Russian government. --- Russian investment. --- Russian markets. --- Russian railroad construction. --- Sergei Witte. --- Trans-Siberian Railway. --- Western investment boom. --- armaments buildup. --- bankers. --- banking. --- boom. --- bust. --- cultural influence. --- debt default. --- default. --- domestic debt markets. --- domestic tensions. --- economic crisis. --- foreign bankers. --- foreign capital markets. --- foreign investors. --- geopolitics. --- government intervention. --- international capital flows. --- interrevolutionary rally. --- investment. --- investor decision making. --- loans. --- patriotism. --- political instability. --- political tensions. --- sovereign default. --- state-led industrialization. --- strategic errors. --- violence.