«Мировое и национальное хозяйство»
«World and National Economy»

Издание МГИМО МИД России |
ISSN: 2713-0983 |
MGIMO-University

Major Trends in Russia’s Participation in International Capital Flows

A.Bulatov, Dr.Sc. in Economics, prof., MGIMO University

Changes in the scale and structure of the export and import of capital to Russia

Dynamics and structure by forms

Over the past three decades in Russia, as can be seen from Figure 1:

- the growth of capital outflow and inflow outpacing GDP after 2008 was replaced, as in the entire world economy, by the dynamics of capital exports and imports lagging behind GDP;

- in the last two decades, again, as in the whole world, the volatility of capital flows has increased;

- it was common to exceed capital outflow over its inflow (21 years out of 31 years), which is typical for countries with a current account surplus, which Russia had all these years (except 1997);

- in 2022, there was a turning point in capital flows due to Western sanctions and a drop in GDP (in constant prices).

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