Russia in international capital movement: Turn of tendencies

Abstract

The paper deals with the past, current and future situation in Russian capital outflow and inflow. The specific features of the past situation (2001-2013) were as follows: big scale of Russian participation in international capital movement; turnover of national capital between Russia and offshores; stable surplus of capital outflow over inflow; inadequacy of industrial structure of capital inflow to Russian needs. The current situation is characterized by such new features as radical cut in volumes of capital outflow and inflow, some decrease in its level of offshorization. In the mid-term the probability of continuation of current trends is high. In the long-term the mode of Russian participation in international capital movement will prima facie depend on prospects of realization of systematic reforms in the Russian economy.