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Pure Economic Loss

Student: Mukhametshin Anton

Supervisor: Artyom Karapetov

Faculty: Faculty of Law

Educational Programme: Jurisprudence (Bachelor)

Year of Graduation: 2019

Most of jurisdictions all around the world provide for an opportunity to compensate damages that were caused directly to the victim`s body, health or property. However, in some cases losses may occur exclusively in the financial sphere of the victim in absence of any physical harm to his health or property. Such losses are called pure economic losses in the legal doctrine. And, as the experience of various countries shows, compensation for these losses is not allowed in some cases and in some countries. What are the reasons for distinguishing the category of pure economic losses? Why do some jurisdictions provide claims for the recovery of pure economic losses, while others do not? What model is more preferable? These and many other issues related to the category of pure economic losses have been discussing in foreign legal science for many years. In Russia, they have become actual recently enough mostly due to some cases in the Supreme Court of the Russian Federation. This study highlights the theoretical foundations of the doctrine of pure economic losses, considers various models of their compensation in foreign jurisdictions, determines the current state of the subject of research in Russian law. In the final part of the study, the author attempts to present his view on the problem of developing the concept of pure economic losses in Russia.

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