International Transaction Journal of Engineering, Management, & Applied Sciences & Technologies

Archives

TuEngr+Logo
:: International Transaction Journal of Engineering, Management, & Applied Sciences & Technologies

http://TuEngr.com


ISSN 2228-9860
eISSN 1906-9642
CODEN: ITJEA8


FEATURE PEER-REVIEWED ARTICLE

Vol.12(10) (2021)

  • Macro Environmental Factors in the Development of Public-Private Partnership in Russia

    Evgeny A. Kuzmin (Department of Regional Economic Policy and Economic Security, Institute of Economics of the Ural Branch of Russian Academy of Sciences, RUSSIA ),
    Marina V. Vinogradova (Faculty of Economics, Russian State Social University, RUSSIA ),
    Elza R. Zinatullina (Department of Enterprise Economics, Ural State University of Economics).

    Disciplinary: Macro Economics, State and Regional Administration & Policy, Institutional Economics.

    ➤ FullText

    doi: 10.14456/ITJEMAST.2021.207

    Keywords: Public-private partnership (PPP); Macroeconomic conditions; Regional differentiation; PPP infrastructure; PPP investment impact; PPP project.

    Abstract
    The transformation of sustainable economic development approaches has created the institution of public-private partnership (PPP) as a form of interaction for the construction and operation of infrastructure facilities. The success of such initiatives creates a supportive environment that meets social needs. In this paper, the authors analyze the dynamics and structure of the distribution of public-private partnership projects in Russia in 2007-2020 to search for significant determinants in the development of this institution. The obtained results of the static and correlation-regression analysis made it possible to establish the presence of a noticeable direct relationship between the level of investment in public-private partnership projects and the size of the gross regional product. A negative impact on the development of public-private partnership projects is exerted by an increase in the tax burden on business, a high cost of loans, and an increase in inflation, which entails an increase in the capital and operating project costs. At the same time, a high level of government spending on the gross domestic product has a positive impact on the implementation of public-private partnership projects. Thus, the activation of the public-private partnership institution in this context should be aimed at improving the macro-state of the economy.

    Paper ID: 12A10R

    Cite this article:

    Kuzmin, E. A., Vinogradova, M. V., and Zinatullina, E. Z.(2021). Macro Environmental Factors in the Development of Public-Private Partnership in Russia. International Transaction Journal of Engineering, Management, & Applied Sciences & Technologies, 12(10), 12A10R, 1-12. http://doi.org/10.14456/ITJEMAST.2021.207



References

  1. Alpatov, A.A., Pushkin, A.V., & Dzhaparidze, R.M. (2010). Public-Private Partnership: Implementation Mechanisms. Moscow: Alpina Publisher.
  2. Andreeva, E.S. (2013). Evaluation of the effectiveness of public-private partnership projects: a methodological approach. Bulletin of Kazan Technological University, 16(12), 300-303.
  3. Barbysheva, T.M. (2020). Development of public-private partnerships in the regional dimension. Authorities and Governance in the East of Russia, 4(93), 133-145. DOI: 10.22394/1818-4049-2020-93-4-133-145
  4. Birman, G., & Schmidt, S. (1997). Economic Analysis of Investment Projects. Moscow: UNITI.
  5. Cheng, Z., Wang, H., Xiong, W. et al. (2021). Public-private partnership as a driver of sustainable development: toward a conceptual framework of sustainability-oriented PPP. Environment, Development and Sustainability, 23, 1043-1063. DOI: 10.1007/s10668-019-00576-1
  6. Chernova, V.Y., Starostin, V.S., Degtereva, E.A., & Andronova, V.I. (2019). Study of sector-specific innovation efforts: the case from the Russian economy. Entrepreneurship & Sustainability Issues, 7(1), 540-552. DOI: 10.9770/jesi.2019.7.1(38)
  7. Derrible, S. (2018). An approach to designing sustainable urban infrastructure. MRS Energy & Sustainability, 5, 13. DOI: 10.1557/mre.2018.14
  8. Di Liddo, G., Rubino, A., & Somma, E. (2019). Determinants of PPP in infrastructure investments in MENA countries: a focus on energy. Journal of Industrial and Business Economics, 46, 523-580. DOI: 10.1007/s40812-019-00129-7
  9. Fedorova, E.A., Dovzhenko, S.E., & Gurina, V.A. (2013). An analysis of factors affecting the efficiency of public-private partnership development in Russia. Financial Analytics: Problems and Solution, 13, 39-51.
  10. Firsova, A.A. (2011). Opportunities of using PPP mechanisms in the processes of investing in innovative activity. RISC: Resources, Information, Supply, Competition, 2, 563-566.
  11. Goloborodko, A.Yu., Kozhenko, Ya.V., & Pashkovsky, P.V. (2017). Public Private Partnership. Ufa: Omega Science.
  12. Han, X., Su, J., & Thia, J.P. (2020). Impact of infrastructure investment on developed and developing economies. Economic Change and Restructuring. https://doi.org/10.1007/s10644-020-09287-4
  13. Ishkhanyan, M.V., & Karpenko, N.V. (2016). Econometrics. Part 1. Pair regression. Moscow: MGUPS (MIIT).
  14. Kazaryan, M.A. (2017). Ways to improve PPP efficiency management in world and domestic practice. Economic Sciences, 1, 68-74.
  15. Khubuluri, E.I., & Bagrova, N.A. (2019). Theoretical aspects of public-private partnership and its implementation in the Russian Federation. Science and Education: Business and Economy; Entrepreneurship; Law and Governance, 1(104), 123-127.
  16. Kozhurina, O.A. (2019). Goals and objectives of public-private partnership. Rostov Scientific Journal, 2, 167-174.
  17. Krivenok, K.P., & Vivchar, T.A. (2018). Risks in PPP projects: achieving rational distribution. Moscow University Bulletin, Series 21: Governance (Government and Society), 4, 79-101.
  18. Kuzmin, E., Zinatullina, E., & Mezentseva, E. (2021). Regional distribution of public-private partnership projects: case of Russia. E3S Web Conf., 301, 01005. DOI: 10.1051/e3sconf/202130101005
  19. Kuzmin, E.A. (2018). Data on empirically estimated corporate survival rate in Russia. Data in Brief, 16. https://doi.org/10.1016/j.dib.2017.12.011
  20. Lebedeva, A.V., & Morozov, O.A. (2017). Strategic risks in the framework of public-private partnership (PPP). Fundamental Research, 8-1, 185-190.
  21. Litau, E. (2018). Entrepreneurship and economic growth: A look from the perspective of cognitive economics. In ICEME 2018: Proceedings of the 2018 9th International Conference on E-business, Management and Economics (pp. 143-147). DOI: 10.1145/3271972.3271978
  22. Ministry of Economic Development of the Russian Federation. (2020). Information and Analytical Review on the Development of Public-Private Partnerships in the Russian Federation. Moscow. Retrieved March 2021 https://clck.ru/MNiks
  23. Ministry of Finance of the Russian Federation. (2021a). Basic Directions of the Budgetary, Tax and Customs-Tariff Policy for 2021 and for the Planning Period of 2022 and 2023. (approved by the Ministry of Finance of Russia). Retrieved May 2021 https://minfin.gov.ru
  24. Ministry of Finance of the Russian Federation. (2021b). Tax Burden and Tax Conditions for Doing Business in the Russian Economy and Foreign Countries. Retrieved May 2021 https://clck.ru/VwNLj
  25. Novikova, T.S., & Chukhlomin, N.V. (2010) Evaluation of the effectiveness of public-private partnership in the creation of special economic zones. World of Economics and Management, 10(4), 180-192.
  26. Pankratov, A.A. (2010). Public-Private Partnership in Modern Practice: Basic Theoretical and Practical Problems. Moscow: Ankil.
  27. Prokopovich, S.Yu. (2013). Public-private partnership in the system of attracting investments as a mechanism for implementing the strategy of socio-economic development: the aspect of efficiency and risks. Modern Problems of Science and Education, 3, 23-30.
  28. Rosinfra. (2021). Market for PPP Projects in Russia. Retrieved May 2021 https://rosinfra.ru/digest/market
  29. Shvedkova, T.Yu. (2015). Features of the distribution of risks between parties in the implementation of investment and construction projects of toll roads on the basis of public-private partnership. Modern Problems of Science and Education, 2, 427.
  30. Sidorova, E.N., & Tatarkin, D.A. (2010). Public-private partnership in a crisis: problems, risks, opportunities. Economy of the Region, 2(22), 95-103. DOI: 10.17059/2010-2-9
  31. Sokolov, M.Yu., & Maslova, S.V. (2013). Risk management in public-private partnership projects. Bulletin of St. Petersburg University. Management, 4, 100-124.
  32. Vilensky, P.L., Livshits, V.N., & Smolyak, S.L. (2002). Evaluation of the Effectiveness of Investment Projects. Theory and Practice. Moscow: Delo.
  33. Wang, E.C., & Alvi, E. (2011). Relative efficiency of government spending and its determinants: Evidence from East Asian countries. Eurasian Economic Review, 1, 3-28. DOI: 10.14208/BF03353822
  34. Yescombe, E.R. (2015). Public-Private Partnership: Principles of Policy and Finance. Moscow: Alpina Publisher.


Other issues:
Vol.12(9)(2021)
Vol.12(8)(2021)
Vol.12(7)(2021)
Vol.12(6)(2021)
Archives




Call-for-Papers

Call-for-Scientific Papers
Call-for-Research Papers: ITJEMAST invites you to submit high quality papers for full peer-review and possible publication in areas pertaining engineering, science, management and technology, especially interdisciplinary/cross-disciplinary/multidisciplinary subjects.

To publish your work in the next available issue, your manuscripts together with copyright transfer document signed by all authors can be submitted via email to Editor @ TuEngr.com (no space between). (please see all detail from Instructions for Authors)


Publication and peer-reviewed process:
After the peer-review process (4-10 weeks), articles will be on-line published in the available next issue. However, the International Transaction Journal of Engineering, Management, & Applied Sciences & Technologies cannot guarantee the exact publication time as the process may take longer time, subject to peer-review approval and adjustment of the submitted articles.

Disclaimer: All products names including trademarksTM or registered® trademarks as well as intellectual properties mentioned in ITJEMAST's articles are the property of their respective owners, using for identification and educational purposes only. Use of them does not imply any endorsement or affiliation. Information publisihed in ITJEMAST, reflected only personal view of the authors, is very fact specific with particular assumptions and thus may not apply to any specific situations. Specific advices should sought from professionals in the fields. Under no circumstances shall its Editors, Editorial Board members, and the authors be liable for any direct or indirect, incidental or consequential losses or damages that result from the uses of or the reliances upon the ITJEMAST published information.

©2021 All Rights Reserved.