It has been suggested in some quarters that huge capital outflows from Russia last year were largely due to external debt repayments and thus should not be seen as a major cause for concern. But while there is some truth in this, the bigger picture is that the accumulation of foreign assets by domestic residents – reflecting a flight from ruble deposits – remains by far the most important driver of capital flight in Russia.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services