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Abstract

This thesis investigates the deoffshorization process in the Russian Federation, an initiative launched to fight the use of offshore jurisdictions. This initiative arose as a policy direction in 2012 when President V. Putin announced the necessity of developing a system of measures to deoffshorize the Russian economy in response to the growing concerns about capital outflow to offshore jurisdictions. As deoffshorization emerged as a self-defined policy direction, the existing research has predominantly focused on the interpretation of deoffshorization and its constituent measures, resulting in limited attempts to assess its efficacy. Against this backdrop, the overarching aim of this study is to assess whether or not the deoffshorization process successfully restricts the channels through which capital flows to offshore jurisdictions. The following questions are addressed in this study: Which governmental measures incorporate deoffshorization and its distinguishing characteristics? What are the main factors affecting the course of the deoffshorization process? Does the introduction of anti-offshore regulations prompt any change in Russian companies' use of offshore schemes? To what extent is the deoffshorization in the Russian Federation successful in limiting the capital flow to offshore jurisdictions?

First, this thesis outlines the distinguishing characteristics of deoffshorization and its regulations. Second, this study employs multiple case studies of Russian enterprises to analyse whether the introduction of deoffshorization measures leads to a behavioural change in the use of offshore jurisdictions. The analysis focuses on two distinct groups of Russian companies: state-owned enterprises (SOEs) and private firms. The research indicates that deoffshorization is driven by legal, political and economic factors, which are predominantly overlooked. The mere fiscal measures of the deoffshorization process do not limit the capital flow channels to offshore jurisdictions. By considering the political and economic factors that underpin or hinder the effect of the deoffshorization reforms, we are able to comprehend better the potential for and obstacles to more innovative solutions to the effective fight against the use of offshore schemes. This is the distinctive feature of the Russian case of deoffshorization.

Publication Type:	Thesis (Doctoral)
Subjects:	D History General and Old World > DK Russia. Soviet Union. Former Soviet Republics H Social Sciences > HG Finance J Political Science > JZ International relations
Departments:	School of Policy & Global Affairs > Department of International Politics School of Policy & Global Affairs > School of Policy & Global Affairs Doctoral Theses Doctoral Theses

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