Capital Outflow and the Place of Russia in Core–Periphery Relationships

Abstract

: The problem of capital outflow from the Russian economy is considered in three aspects: export of capital, flight of capital and drain of capital. Permanent net capital outflow through private and public channels allows the state to devalue the ruble and create a favorable environment for export-oriented mining industries. This circumstance, firstly, inhibits the qualitative growth of the Russian economy, and secondly, is a sign of its peripheral nature in the global capitalism.