IDEAS home Printed from https://ideas.repec.org/p/ebd/wpaper/73.html
   My bibliography  Save this paper

Capital flight and capital outflows from Russia: symptom, cause and cure

Author

Listed:
  • Willem H. Buiter

    (European Bank of Reconstruction and Development)

  • Ivan Szegvari

    (European Bank of Reconstruction and Development)

Abstract

Capital flight is a fuzzy and unhelpful concept. Russian capital outflows should be analysed in a wider context involving all major determinants of the risk and return faced by Russian savers and investors. Building saver/investor confidence and strengthening the credibility of policies and institutions are preconditions for enhancing the quantity and quality of domestic capital formation in Russia. As reforms progress (financial sector reforms and a fundamental overhaul of the public administration are key), Russian ‘capital flight’ is set to decrease gradually. Even so, it will remain a feature of the economic landscape for many years. Sharp one-off reversals in net capital flows could disrupt the macroeconomy. A capital repatriation amnesty could prove counterproductive.

Suggested Citation

  • Willem H. Buiter & Ivan Szegvari, 2002. "Capital flight and capital outflows from Russia: symptom, cause and cure," Working Papers 73, European Bank for Reconstruction and Development, Office of the Chief Economist.
    • Handle: RePEc:ebd:wpaper:73
    as

    Download full text from publisher

    File URL: http://www.ebrd.com/downloads/research/economics/workingpapers/wp0073.pdf
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    capital flight; Russia; transition;
    All these keywords.

    JEL classification:

    • F32 - International Economics - - International Finance - - - Current Account Adjustment; Short-term Capital Movements
    • P2 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ebd:wpaper:73. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Olga Lucas (email available below). General contact details of provider: https://edirc.repec.org/data/ebrdduk.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.