The international movement of capital as a factor of production takes a variety of specific forms.
By source of origin of the capital, in motion on the world market is divided into official and private.
• The official (state) capital - funds from the state budget, moved abroad or received from abroad by the decision of governments as well as by intergovernmental organizations. The source is the official capital of the state budget, that is ultimately the taxpayers' money. Therefore, decisions about how to move this capital abroad are taken jointly by the government and bodies of representative power (Parliament).
• The private (non-state) capital - private companies, banks and other non-governmental organizations, moved abroad or received from abroad to solve their governing bodies and associations. The source of origin of the funds of private equity firms are not associated with the state budget.
But despite the relative autonomy of decision-making firms in the international movement of capital belonging to them, the government usually reserves the right to regulate and control.
By the nature of the use allocate:
• Entrepreneurial capital - funds directly or indirectly invested in production for profit.
• Loan capital - funds to lend to obtain percent.
By maturity investments emit:
• Medium-term and long-term capital - capital investment for a period of more than 1 year. All venture capital investments in the form of direct and portfolio investments are typically long-term.
• Short-term capital - capital investment for a period of less than one year.
On the purpose of investing distinguished:
• Direct investment (direct investments) - capital investment to purchase long-term economic interest of the country's capital investment, providing control over object placement investor capital. They are almost entirely associated with the export of private venture capital, excluding the relatively small investment by foreign-owned firms to the state.
• Portfolio investment (portfolio investments) - investing in foreign securities that do not give the investor the right real control over the investee. Such investments are also mainly based on private entrepreneurial capital, even though the state often produces and acquires its foreign securities.
Forms of international capital movements, which are recognized by each particular country, usually set in its investment and banking legislation.
Comparing the relative preference for raising capital in various forms, it should be emphasized that the direct investments have a number of advantages. First of all, activate the private sector, expanding access to foreign markets and easier access to new technologies and management methods. In this case, the greater the probability of reinvesting profits in the country than in the home country of export. In addition, the influx of venture capital does not increase the size of the external debt.
It should be emphasized that, despite the steady decline in the share of direct investments in the total amount of foreign investments in the Russian economy from 70% in 1991-1995. to 40% in 2000, this form of raising capital is the most important for the economy of the country. Foreign direct investment in 1999 amounted to 4, $ 26 billion, and in 2000 - 4, 43 billion dollars
As of the end of March 2008. accumulated foreign capital in the Russian economy amounted to 221.0 billion U.S. dollars, up 45.9% compared with the corresponding period of the previous year. The largest share in the accumulated foreign capital accounted for the other investments made on a return basis (credits of international financial organizations, trade credits, etc.) - 48.8% (at the end of March 2007. - 50.0%), the share of direct - 48 , 2% (48.2%), portfolio -3.0% (1.8%).
The main investors in the I quarter of 2008. - Cyprus, the Netherlands, the United Kingdom (UK), Germany, Switzerland, the USA, France, Ireland. Together, these countries accounted for 71.2% of the total stock of foreign investment, 84.3% of the total accumulated foreign direct investment.
In I quarter 2008, the Russian economy received $ 17.3 billion of foreign investment, which is 29.9% less than in I quarter of 2007.
The process of privatization of state-owned industrial enterprises shareholding led to the formation in the Russian stock market, have created the objective conditions for foreign investors for portfolio investment.
In late 1997, the outflow of funds from non-residents of the Russian stock market was about $ 7.5 billion, however, portfolio investment until the collapse of the GKO market remained one of the most lucrative forms of investment in specific sectors of the economy, and Russia, but it