The capital outflow from developing countries: causes and consequences (case study of the Republic of Belarus)

The article deals with the problems of capital outflow from developing countries against the background of slowdown of their economic growth. The article discusses the main reasons for capital inflows and outflows. Special attention is given to the volume and the nature of capital flow in Belarus in the context of high openness of the Belarusian economy and the recession of the key trading partners. Based on the analysis of the dynamics of capital flow it has been found that a large proportion of capital outflow is accounted for its illegal export.