Advanced Search
MyIDEAS: Login to save this paper or follow this series

Capital Flight from Russia

Contents:

Author Info

  • Prakash Loungani
  • Paolo Mauro

Abstract

This paper documents the scale of capital flight from Russia, compares it with that observed in other countries, and reviews policy options. The evidence from other countries suggests that capital flight can be reversed once reforms take hold. The paper argues that capital flight from Russia can only be curbed through a medium-term reform strategy aimed at improving governance and macroeconomic performance, and strengthening the banking system. Capital controls result in costly distortions and should gradually be phased out as part of that medium-term strategy.

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=3602
Download Restriction: no

Bibliographic Info

Paper provided by International Monetary Fund in its series IMF Policy Discussion Papers with number 00/6.

as in new window
Length: 27
Date of creation: 01 Jun 2000
Date of revision:
Handle: RePEc:imf:imfpdp:00/6

Contact details of provider:
Postal: International Monetary Fund, Washington, DC USA
Phone: (202) 623-7000
Fax: (202) 623-4661
Email:
Web page: http://www.imf.org/external/pubind.htm
More information through EDIRC

Order Information:
Web: http://www.imf.org/external/pubs/pubs/ord_info.htm

Related research

Keywords: Capital outflows; Transition economies; capital flight; capital controls; export earnings; export proceeds; capital account liberalization; capital flows; exports of goods; export quotas; capital account restrictions; foreign capital; volatility of capital flows; export prices; export revenues; export licenses; liberalization of capital; capital inflows; capital transactions; exporter; export certificates; net exporter; international capital; excess liquidity; exporters; debt securities; import prices; capital account transactions; stringent capital controls; ratio of imports; net exporter of capital; export transactions; money laundering; inflation rate; private capital; exchange rate depreciation;

Other versions of this item:

References

No references listed on IDEAS
You can help add them by filling out this form.

Citations

Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
as in new window

Cited by:
  1. Kristin J. Forbes, 2007. "The Microeconomic Evidence on Capital Controls: No Free Lunch," NBER Chapters, National Bureau of Economic Research, Inc, in: Capital Controls and Capital Flows in Emerging Economies: Policies, Practices and Consequences, pages 171-202 National Bureau of Economic Research, Inc.
  2. Haizhou Huang & Dalia Marin & Chenggang Xu, 2003. "Financial Crisis, Economic Recovery and Banking Development in Former Soviet Union Economies," CESifo Working Paper Series 860, CESifo Group Munich.
  3. Yalta, A. Yasemin & Yalta, A. Talha, 2012. "Does financial liberalization decrease capital flight? A panel causality analysis," International Review of Economics & Finance, Elsevier, Elsevier, vol. 22(1), pages 92-100.
  4. Karla Hoff & Joseph E. Stiglitz, 2002. "After the Big Bang? Obstacles to the Emergence of the Rule of Law in Post-Communist Societies," NBER Working Papers 9282, National Bureau of Economic Research, Inc.
  5. Arnaud Bourgain & Patrice Pieretti & Skerdilajda Zanaj, 2009. "International Financial competition and bank risk-taking in emerging economies," CREA Discussion Paper Series 09-08, Center for Research in Economic Analysis, University of Luxembourg.
  6. Barbara G. Katz & Joel Owen, 2011. "The Crime of Tax Evasion in Transition Economies," Working Papers, New York University, Leonard N. Stern School of Business, Department of Economics 11-04, New York University, Leonard N. Stern School of Business, Department of Economics.
  7. Dalia Marin & Haizhou Huang & Chenggang Xu, 2004. "Financial Crisis, Economic Recovery and Banking Development in Russia, Ukraine, and Other FSU Countries," IMF Working Papers 04/105, International Monetary Fund.
  8. Marcella Mulino, 2002. "On the determinants of capital flight from Russia," Atlantic Economic Journal, International Atlantic Economic Society, International Atlantic Economic Society, vol. 30(2), pages 148-169, June.
  9. Hubert Gabrisch & Karin Szalai, 2002. "The use of unit values in estimating trade-related capital flight -The case of CEE countries with special focus on Russia," IWH Discussion Papers, Halle Institute for Economic Research 161, Halle Institute for Economic Research.
  10. Biswas, Amit K. & Marjit, Sugata, 2007. "Preferential trade and mis-invoicing: Some analytical implications," International Review of Economics & Finance, Elsevier, Elsevier, vol. 16(1), pages 130-138.
  11. Homi Kharas & Brian Pinto & Sergei Ulatov, 2001. "An Analysis of Russia's 1998 Meltdown: Fundamentals and Market Signals," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 32(1), pages 1-68.
  12. Huang, Haizhou & Marin, Dalia & Xu, Chenggang, 2004. "Financial Crisis, Economic Recovery, and Banking Development in Russia, and other FSU Countries," Discussion Paper Series of SFB/TR 15 Governance and the Efficiency of Economic Systems, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University 79, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich.
  13. Andrew Powell & Dilip Ratha & Sanket Mohapatra, 2002. "Capital Inflows and Capital Outflows: Measurement, Determinants, Consequences," Business School Working Papers, Universidad Torcuato Di Tella veinticinco, Universidad Torcuato Di Tella.
  14. Hoff, Karla & Stiglitz, Joseph E., 2004. "The transition from communism : a diagrammatic exposition of obstacles to the demand for the rule of law," Policy Research Working Paper Series 3352, The World Bank.
  15. Biswas, Amit K. & Sengupta, Sarbajit, 2010. "Tariffs and imports mis-invoicing under oligopoly," Dresden Discussion Paper Series in Economics 06/10, Dresden University of Technology, Faculty of Business and Economics, Department of Economics.

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:imf:imfpdp:00/6. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Jim Beardow) or (Hassan Zaidi).

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.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with 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 profile, as there may be some citations waiting for confirmation.

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