Open AccessFeatures of the Institutional Environment of Public-Private Partnership in Russia: Regional Aspect
Author(s) -
Nikita Moguchev,
Alfiia Khuzina
Publication year - 2021
Publication title -
mir novoj èkonomiki
Language(s) - English
Resource type - Journals
eISSN - 2220-7872
pISSN - 2220-6469
DOI - 10.26794/2220-6469-2020-14-4-56-66
Subject(s) - general partnership , investment (military) , business , public–private partnership , state (computer science) , regional development , diversity (politics) , finance , value (mathematics) , regional science , political science , geography , algorithm , machine learning , politics , computer science , law
In the current crisis economic conditions, the public-private partnership (PPP) mechanism can be used as one of the key ways to attract extra-budgetary sources of funds for the implementation of investment projects at the regional level. Despite the growing number of PPP projects in Russia, the presence of significant institutional constraints at the regional level hinder the further development of this mechanism. In particular, there is a lack of interconnection of PPP projects with long-term investment and state development programs at the regional level, low sectoral diversity of projects, high dependence of PPP projects on state financial institutions, and insufficient information support of regional PPP practices. The situation is aggravated by the lack of long-term money in the economy against the backdrop of limited private partners’ funds for the implementation of long-term PPP projects, as well as by existing legal restrictions. The practical purpose and scientific value of this article lie in the construction of a holistic and logical vision of solving the identified institutional problems of PPP development at the regional level.