Sergey Al. Pravkin. Investment management in transport projects using the public-private partnership mechanism
UDK: 338.28
Sergey Al. Pravkin - Candidate of Law, associate professor, Russian University of Transport (MIIT)
Abstract. Investments in transport infrastructure can be based on selected models of public-private partnership in the meso-level economic system. A meso-level is a process of intra-industry interactions of economic entities; the object of analysis of the transport economy based on the meso-level approach is spatially extended (regional economic) structures and markets, which is the transportation market. The meso-level method for studying transport economy is based in turn on three of its components, such as a systems approach to understanding the meso-level as a process of intra-industry interactions between economic entities in the transport sector; a regional-spatial approach to the development of transport infrastructure; methodological institutionalism as an approach at the point of intersection of transport economy with other industries. There has been proposed to use the advantages of public-private partnership in the development of the transport system, its application according to regional specifics using the example of the transportation market as a meso-level institution. The proposed models of legal regulation of investments in transport projects can provide a systemic economic and legal effect on spatially extended markets. The methodology of the study comprised an analysis of public management of the transport economy at the meso level, a formal legal approach related to the study of the problems of combining transport and investment legislation, as well as legal regulation of industry transportation markets. The method of interpreting legal norms was used to clarify the legal norms of the current investment and transport legislation, which was aimed at clarifying special terms and legal structures for their application in legal practice. The comparative method was used to compare individual models of public-private partnership based on the mesoeconomic approach, which was applied according to regional specifics, inter-industry, spatial and structural links, social specifics to improve the legislation regulating the activities of industry markets for transport services. The method of making legal decisions was used to develop proposals to eliminate legislative problems in the field of industry investments. Based on established recommendations for developing public-private partnership models in transport projects and unifying legislation in the global market, there have been proposed the ways to improve Russian legislation concerning the development of the freight transportation market based on a mesoeconomic approach. In a situation where the inflow of foreign investment has significantly reduced, public-private partnership creates conditions for stable investment within the country based on a domestic investor, on state and private capital. The infrastructure projects with significant investment volumes, reducing government costs in such projects by attracting financing from private investors, are of practical importance.
Keywords: investments; transport projects; public-private partnership; meso-level; mesoeconomic approach; transport systems; multimodal transportation.
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