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MNEs and capital flight: the case of Russia
[journal article]
Abstract This paper studies the participation of Russian multinational enterprises (MNEs) in the flight of capital from the native country. It estimates the mid-annual size of capital flight from Russia in 2015-2020 via channels of its MNEs at 0.8% of GDP. Theoretically and methodologically, this paper conce... view more
This paper studies the participation of Russian multinational enterprises (MNEs) in the flight of capital from the native country. It estimates the mid-annual size of capital flight from Russia in 2015-2020 via channels of its MNEs at 0.8% of GDP. Theoretically and methodologically, this paper concentrates on two groups of motives and prerequisites for this flight - generated by tax-avoidance motives and domestic economic imperfections which lead to tax evasion and the institutional escape of national capital. Macro and micro analysis based on the balance of payments and company cases confirms that Russian MNEs are actively participating in capital flight from the country.... view less
Keywords
Russia
Classification
National Economy
Free Keywords
MNE; capital flight; internationalization theory; motives of capital flight; SOE
Document language
English
Publication Year
2022
Page/Pages
p. 174-188
Journal
Russian Journal of Economics, 8 (2022) 2
ISSN
2618-7213
Status
Published Version; reviewed
Licence
Creative Commons - Attribution-Noncommercial-No Derivative Works 4.0