Süße, Marvin; Grigoriadis, Theocharis - In: IBF paper series (2022) 1, pp. 1-38
the outcome of a policy experiment (1892-1903) under the reformist Finance Minister Sergei Witte. The policy utilized the … established branch network of the state banking system to extend cheap credit directly to industrial plants. We exploit variation … results show that improved access to public banking led to faster growth in factory-level output, mechanization, and labor …