In most economically developed countries, the authorities have recognized the importance of academic migration as a means of formation of human capital, essential for the development of the national economy. They actively encourage academic migrants to come to the country by simplifying migration rules for college students and other academic migrants. In Russia, unfortunately, these effects have been underappreciated. Yet academic migration is of huge importance to the development of Russia, and it affords a minimum of four key effects: (1) social; (2) political; (3) demographic; and (4) economic. Each of these effects is manifested on both the federal and the regional level. This article takes a look at these effects in more detail. [This article was translated by Kim Braithwaite.] (Contains 5 figures, 2 tables and 3 notes.)