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Out of Cash

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А.В. Абрамов, Т.В.Веревка

Отток капитала из России: причины и решения
Capital Flight from Russia: causes and solutions

Аннотация. В публикации рассмотрены вопросы, связанные с оттоком капитала из России. Рассмотрены основные причины, по которым происходит вывод капитала из страны. Также представлены методы по сокращению вывоза капитала из России, и механизмы реализации данных мер.

Ключевые слова. Валютные операции, отток капитала, чистый вывоз капитала, экономическая ситуация.

Abstract. In this publication addressed issues related to the outflow of capital from Russia. The main reasons why there is Capital Flight from country are considered. In addition, techniques to reduce the export of capital from Russia and mechanisms for the implementation of these measures are presented.

Key words. Capital flight, modern Russia, economic situation.

В конце прошлого века, начале нынешнего в Российской Федерации происходит ощутимый экономический рост. Данные изменения проявились в оценках инвестиционной привлекательности страны рядом известных международных рейтинговых агентств. В связи с этим увеличился приток иностранного капитала в Россию. Но несмотря на это, продолжается отток капитала за рубеж.

Постоянное движение капитала через границы оказывает влияние на экономическое развитие страны. В настоящее время присутствует проблема оттока капитала из Российской Федерации. Многие задаются вопросом стоит ли пустить все на самотек или решать данную проблему. Существует несколько причин оттока капитала из страны.

1. Первая причина заключается в том, что все заработанные предпринимателями средства в больших объемах вывозятся за рубеж, с целью выгодного и надежного вложения. Осуществляют предприниматели это с помощью банков или собственными силами.

tosir@walkmail.net

http://www.ebay.fr/itm/Quiksilver-Mens-Sugarmana-X3-Casual-Slate-KMMBA091-/201082402262?

8-952-366-03-35

Таблица 1: Чистый ввоз/вывоз капитала в РФ, 2005–2013 гг. (в млрд. долларов США)

2005 |2006 |2007 |2008 |2009 |2010 |2011 |2012 |2013 | |Банковский сектор |5,9 |27,5 |45,8 |-55,2 |-32,2 |15,9 |-23,9 |18,5 | |Прочие сектора |-6,2 |16,1 |42 |-78,3 |-25,3 |-46,7 |-57,4 |-73,1 | |Чистый ввоз/вывоз капитала в сумме (в млрд. долларов США) |-0,3 |43,7 |87,8 |-133,6 |-57,5 |-30,8 |-81,4 |-54,6 | |Доля ввоза/вывоза капитала в ВВП (%) |0,04 |4,41 |6,76 |8,04 |4,70 |2,02 |4,29 |2,70 | |Источник: [1]

2. Вторая причина заключается в уходе с российского рынка портфельных инвесторов. По итогам первого квартала 2013 года из страны было вывезено 25,8 млрд долл. против 33,6 млрд долл. за аналогичный период 2012 года. В I полугодии был зафиксирован отток капитала в $74,6 млрд., что в 2,2 раза больше чем за аналогичный период прошлого года. Во II квартале 2014 года отток капитала из России сократился почти в два раза, достигнув отметки в $25,8 млрд., как оценили в Центробанке РФ. В целом же за I полугодие 2014 года отток капитала составил $74,6 млрд., превысив показатель за аналогичный период 2013 года почти в 2,2 раза ($33,7 млрд.)

3. Третья причина заключается в увеличении популярности иностранной валюты среди населения РФ. Это происходит из-за нестабильной политической ситуации, риски из-за ситуации вокруг Украины, ослабление курса рубля, упадка экономики страны. Ситуация в экономике критическая – в промышленности снижение выпуска на 0,1% в физическом выражении, обрабатывающие производства падают на 0,6%, капитальные вложения падают на 0,8%, грузовые перевозки на железнодорожном транспорте– на 1,9%. Следует отметить, что темпы роста экономики падают на протяжении семи кварталов подряд (с конца 2011г.) и по итогам ушедшего 2013г. составили менее 1,3%.

Для уменьшения оттока капитала желательно совершенствовать валютное и финансовое законодательство. Для того чтобы это сделать необходимо: ввести финансовый контроль над валютными операциями; строже контролировать требование об обязательном резервировании средств, особенно для заграничных лиц на рынке ценных бумаг. Также нужно заново рассмотреть экономическую стратегию страны. Это необходимо для создания привлекательного инвестиционного климата как для иностранных, так и для отечественных компаний. Данная задача могла быть решена при помощи следующих мер: стимулировать отечественное производство, введение налоговых льгот, совершенствование налоговой системы РФ увеличить прозрачность российских предприятий, ограничить некоторые формы вывоза капитала, более точно вести учет объема российского капитала в других странах, популяризовать рубль среди населения.

Литература:

1. Сайт Банка России. Раздел «Внешний долг Российской Федерации». http://cbr.ru/statistics/print.aspx?file=credit_statistics/debt_an.htm

2. Статья: «Отток капитала изумил правительство». Источник: Независимая газета. http://www.ng.ru/economics/2014-02-03/1_ottok.html

3. Статья: «ОЭСР понизила прогноз по росту экономики России в 2014г. до 0,5%». Источник: РосБизнесКонсалтинг. http://top.rbc.ru/tags/?tag=%FD%EA%EE%ED%EE%EC%E8%EA%E0+%D0%EE%F1%F1%E8%E8

Исследование: «Проблемы бегства капитала из России и пути его возвращения». Источник: ДВФУ

http://www.crime.vl.ru/index.php?p=1350&more=1&c=1&tb=1&pb=1

4. Книга/научный труд: «Отток капитала из России: проблемы и решения». Источник: Центр научной политической мысли и идеологии.

http://rusrand.ru/dev/ottok-kapitala-iz-rossii-problemy-i-reshenija…...

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