Financial mechanism for investing in the projects of transport infrastructure development of russian regions / Razumovskaia E., Kniazeva E., Yuzvovich L., Kotlyarevskaia I., Maltseva Y. // Indian Journal of Science and Technology. - 2016. - V. 9, l. 44.

ISSN:
09746846
Type:
Article
Abstract:
Objectives: This article is devoted to the actual problem of the economy of any state - finding effective formats of financing investment projects of transport infrastructure development, having significant differences in many countries. The publicprivate partnership is the most common worldwide financial mechanism to attract investment in the infrastructure projects. Methods: The authors have attempted to substantiate the main results of the research using econometric tools, along with the traditional methods of analysis - statistical monitoring, graphical method, the method of observation, measurement and analysis. Findings: Based on the identified needs in the construction of transport routes in Russia compared with Western countries, the authors have determined the volume of investments in this sector. Then, the mathematical model of making investment decisions on the basis of econometric equilibrium strategies of participants has been offered. The analysis of the various possibilities of strategic cooperation between the participants of investment projects on the basis of game theory (in particular, the Nash equilibrium and Cournot duopoly) allowed the authors to suggest a function of weighted average cost of project capital (WACPC), designed to improve the effectiveness of using financial resources involved in the infrastructure projects. Improvements: One of the practical implications of this study lies in the fact that based on the game theory it is possible to create a universal financial mechanism, which would enable to diversify investment sources and reduce the risks of infrastructure projects at all stages of their implementation. Following the principles of Nash equilibrium strategy is able to eliminate the corruption schemes in the allocation of contracts with state authorities and general contractors for transport infrastructure construction and upgrading.
Author keywords:
Equilibrium Strategy; Financial Mechanism; Investments; Transport Infrastructure; Weighted Average Cost of Project Capital
Index keywords:
нет данных
DOI:
10.17485/ijst/2016/v9i44/10547
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https://www.scopus.com/inward/record.uri?eid=2-s2.0-85001967714&doi=10.17485%2fijst%2f2016%2fv9i44%2f105472&partnerID=40&md5=c741e84f3c8c10047b050340738457e7
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Art. No. 105472
Link https://www.scopus.com/inward/record.uri?eid=2-s2.0-85001967714&doi=10.17485%2fijst%2f2016%2fv9i44%2f105472&partnerID=40&md5=c741e84f3c8c10047b050340738457e7
Affiliations Ural Federal University, Yekaterinburg, Russian Federation
Author Keywords Equilibrium Strategy; Financial Mechanism; Investments; Transport Infrastructure; Weighted Average Cost of Project Capital
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Correspondence Address Razumovskaia, E.; Ural Federal UniversityRussian Federation; email: rasumovskaya.pochta@gmail.com
Publisher Indian Society for Education and Environment
Language of Original Document English
Abbreviated Source Title Indian J. Sci. Technol.
Source Scopus