TY  - JOUR
TI  - Regional governments’ policy evaluation for extra-budgetary investments in public infrastructure
T2  - Public Administration Issues
IS  - Public Administration Issues
KW  - the institutional environment
KW  - infrastructure
KW  - Public-Private Partnership
KW  - investment
KW  - Moscow
KW  - Yamalo-Nenets Autonomous District
AB  - In the article we examine the institutional process in a regional economy connected with the infrastructure development. The hypotheses stated are the following: 1) the existence of the interrelationship between the economic growth and attracting the investment into infrastructure; and 2) the influence of the institutional environment on the public-private partnerships (PPP) development. We have adopted the neoinstitutional approach to study the factors which influence the behavior of the government and business in their interaction in the economy. We also employ statistical methods for analyzing the dynamics of socio-economic development (SED) indicators of the subjects of the Russian Federation as well as the results of measures to attract private investment into infrastructure, including the PPP. The best regional practices were shown in creating an institutional environment for investors and implementing infrastructure projects. Also we propose new indices for assessing the attraction of private investments in infrastructure and for assessments of the regional SED. We chose the city of Moscow and the Yamalo-Nenets AutonomousDistrict as two empirical case studies, which differ in the economic and geographic conditions, but both demonstrate success in attracting private investment and implementing infrastructure projects. The existence of a relationship between indicators of private investment in public infrastructure and economic growth was revealed. In addition, in both regions there proves to be an interrelationship between the creation of the institutional environment and the emergence of new PPP projects. Against the background of institutional changes, there is a growth in private investment in infrastructure, and the share of non-budgetary funding in government programs increases. Our conclusions are consistent with a theory that asserts the primacy of institutional environment in relation to project implementation. In conclusion we make some practical recommendations for the development of the institutional environment which are acceptable for all regions solving similar problems of infrastructure development. 
AU  - George Borshchevskiy
UR  - https://vgmu.hse.ru/en/2018--4/229667887.html
PY  - 2018
SP  - 7-41
VL  -