The cost of borrowing began to creep up again, a big bank that had bet on cheaper money failed, foreign capital took flight and Turkey found itself in a vicious circle of wobbling banks and spiralling interest rates.
The cost of borrowing began to creep up again, a big bank failed, foreign capital took flight and Turkey found itself in a vicious circle of wobbling banks and spiralling interest rates.
And for the broader population, the result is a lack of foreign investment (and capital flight abroad) that must be contributing to the country's poor growth: its GDP fell by 0.4% in the first quarter.From time to time, analysts point to the low Russian valuation as a sign that the market is cheap and that international investors should go on a buying spree.
As domestic and foreign capital has taken flight, the peso has dropped to about 50 to the dollar-off 25% from its average of 40 in 1999 and about half its value of 26 at the onset of the Asian financial crisis in 1997.
The couple's popularity has dipped severely in opinion polls because of their confrontational style of governing and the administration's refusal to adjust its populist economic policies amid falling foreign investment and heavy capital flight.
Furthermore, Mr. Gref noted, the working group had been empowered to amend government legislation, now pending in Parliament, that contradicts the center's policies -- a veiled reference to bills on state registration of foreign trade transactions and capital flight that seemed to fly in the face of the center's deregulatory bent.
But the similarities can be overdone, a senior government insider in Helsinki said, arguing that Russia is economically weak, deprived of foreign investment, beset by capital flight, and almost wholly dependent for cash on energy exports at a time when the international oil price is dropping.
In July 2012 the government also further tightened currency controls in an effort to bolster foreign reserves and stem capital flight.
Mr Chavez decided to impose controls on foreign exchange to avoid capital flight and to control the prices of food staples.
The economy is slowing sharply as Western sanctions over the Ukraine crisis deter foreign investment and spur capital flight, and as a slump in oil prices severely reduces Russia's export revenues and pummels the rouble.
