Russia's Crony Capitalism by Anders Aslund

Author:Anders Aslund [Aslund, Anders]
Language: eng
Format: epub
ISBN: 9780300243093
Publisher: Yale University Press
Published: 0101-01-01T00:00:00+00:00

Year Global

Financial Integrity: Licit and illicit

IMF: Capital flight

1994

20

16.7

1995

0

4

1996

20.3

25

1997

0.9

22.3

1998

57.2

26.8

1999

21.4

22

2000

15.6

21.9

2001

37.7

18.3

2002

12.5

21.6

2003

38.2

24.4

2004

51.5

30.1

2005

66.4

42.3

2006

4.6

20.7

2007

48.6

57.7

2008

203.3

118.5

2009

14.9

17.5

2010

69.8

24.5

2011

99.5

n/a

Total

782.4

514.3

Source: Kar and Freitas 2013, 13, 16

Professor James S. Henry of Columbia University has assessed for the Tax Justice Network that by the end of 2014 no less than $1.3 trillion of assets from Russia were sitting offshore. He formulated this figure on the basis of data from global international institutions, approximately as Global Financial Integrity has done. This number appears too high as an assessment of Russian funds abroad, because it includes outflows that returned to Russia. His aim and the goal of Global Financial Integrity is to assess tax evasion through total misinvoicing in both capital outflows and inflows, whereas the focus in this book is total net private assets held by Russians abroad.30

Table 6.2: Capital and financial account, 2001–2016

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