Smirnova T.L.Published in:
Journal of International Economic Affairs
– Volume 9, Number 3 (July-September 2019)

JEL classification: H54, H59, L91

Keywords: budget financing, investments, regions, russia, social infrastructure, state, transport infrastructure


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Abstract:

The article deals with the trends of state budget financing for infrastructure in Russia in 2007-2017 years. The positive relationship between the dynamics of public investment in social infrastructure in Russian and the chain index of budget expenditures on agricultural development programs, the chain index of labor productivity on the basis of economic and mathematical modeling is revealed. The social infrastructure performs the dominant system-forming function for the socio-demographic, innovation-technological and economic subsystems in the region. Investment risks that constrain business development and forming heterogeneity of innovation and technological processes in the regions are identified. Positive externalities arising as a result of public investment in the social infrastructure of the regions are shown. The results of the study can be used to assess the effectiveness of public investment and socio-economic development of Russian regions.

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