Peter I's Reforms and Crisis Processes in the Russian State

The article explores the economic foundations of Peter the Great's reforms, positing that the economy was of utmost importance for the Romanov political regime at the end of the 17th century. By the latter half of the 17th century, Russian agriculture was beset by numerous crises, such as limited expansion opportunities for peasant households. As the 18th century approached, Russia's population growth began outpacing the agrarian sector's production capabilities. Peter the Great's reforms thus provided the necessary conditions to curb the deepening crisis in agriculture. However, these reforms were accompanied by inflation, a consequence of diminished budgetary discipline. The authors concentrate on the final decade of the 17th century and the first decade of the 18th century, identifying this era as a pivotal moment in Russia's economic evolution. The study reveals that Peter the Great's administration was compelled to shift from free-market principles to a regulated market economy due to persistent stagnation in the agrarian sector. The regime under Peter I is characterized as adhering to mercantilist policies. Furthermore, the authors ascertain that Russia's per capita GDP at the start of the 18th century was roughly five times lower than that of the Netherlands during the same period.