Original title: Únik kapitálu z Ukrajiny: měření a určující faktory
Translated title: Capital Flight from Ukraine: Measurement and Drivers
Authors: Marchenko, Yuliia ; Baxa, Jaromír (advisor) ; Paulus, Michal (referee)
Document type: Master’s theses
Year: 2019
Language: eng
Abstract: This thesis presents estimates of capital flight from Ukraine in the period 1994 to 2017. We use the World Bank Residual method to calculate capital flight as a residual difference between sources and uses of funds in the economy. Our findings show that pre-2014, capital flight amounted to 7.5 billion USD on average. On the contrary, in 2014 our method reports unrecorded capital inflow of 10.7 billion USD, which took place in times of economic recession and military conflict in the east of Ukraine. We analyze the factors that might have caused reverse capital flight, and consider that increase in remittance flows, growth of the black currency market and new niches in the underground economy might have had an effect on unrecorded capital inflows. Finally, we study the components of the World Bank Residual method, and suggest that capital flight might have taken forms that the method doesn't encompass. Therefore, we underline the importance of accounting for gaps in the method by adding trade misinvoicing estimates to capital flight volumes. Keywords Ukraine, Capital Flight, World Bank Residual Method, Balance of Payments, Shadow Economy Range of thesis: 89 886 Characters
Keywords: Balance of Payments; Capital Flight; Shadow Economy; Ukraine; World Bank Residual Method; Balance of Payments; Capital Flight; Shadow Economy; Ukraine; World Bank Residual Method

Institution: Charles University Faculties (theses) (web)
Document availability information: Available in the Charles University Digital Repository.
Original record: http://hdl.handle.net/20.500.11956/107500

Permalink: http://www.nusl.cz/ntk/nusl-398732


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Universities and colleges > Public universities > Charles University > Charles University Faculties (theses)
Academic theses (ETDs) > Master’s theses