Essay on the interaction between external debt and capital outflow from Russia

Abstract

The article is devoted to interaction between capital outflow and external debt. We analyze the debt capital market in Russia in 2000s and provide a mechanics of crisis in 2008 – 2009. Based on the theory of R. Caballero and S. Panageas we offer a hypothesis concerning a reform in international reserves management. We believe Russian authorities should pay more attention to the regulation of capital outflow in a short period.

Keywords

• сapital outflow
• external debt
• balance of payments
• international reserves
• debt
• finance