ABSTRACT
This chapter examines the Russian economy and oil industry during the late-tsarist era which is typically dated from 1861 – the year when serfdom officially ended in Russia – until the Revolution in 1917. The most important debate concerning the economy of late-tsarist Russia relates to the role of the state. The oil industry supports the arguments of the literature regarding the important role played by foreign participation in the late-tsarist economy. The domestic refined product sales provide some support to the proponents of monopoly and oligopoly power in late-tsarist Russia, while oil production does not. The chapter considers the level of technology in industry in late-tsarist Russia. It looks separately at technological developments in the three main branches of the oil industry, namely exploration and production, refining and transportation. Julian Cooper and R. A. Lewis concluded that science and technology in Russia in the period before the Revolution were underdeveloped and underfunded.
