Financial aspects of transport infrastructure development in regions

Vyacheslav Bubnov,Yulia Bubnova,A.D Abramov,V.I Khabarov,V.I Medvedev,A.A Klimov,A.L Manakov

doi:10.1051/matecconf/201821602002

Vyacheslav Bubnov, Yulia Bubnova + Show 5 more

Open Access

https://doi.org/10.1051/matecconf/201821602002

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Abstract

The level of economic development depends on many factors, among which infrastructure, including railway transport, is the key one. Financing of infrastructure-related projects on the regional level encourages economic growth. However, different level of overall development of subject of the Russian Federation causes inequality in the level of transport infrastructure development and makes common approach to its financing inapplicable. The necessity appears to build a model of financing for transport-related infrastructure with the use of statistical data and mathematical approach with the account of regional market peculiarities. Due to selection of indicators affecting economic growth and building parametric factor model, classification of financing on subfederal level was carried out, which makes it applicable for states with federal structure.

Highlights

Current state of world economy reveals rather serious disproportions in economic development of certain regions
Hugon [6], this leads the global economy to asymmetry and contradictions between periphery and center
As the result of the study the recommendations were elaborated for financing development on subfederal level

Summary

Introduction

Current state of world economy reveals rather serious disproportions in economic development of certain regions. Divergent development of big territorial entities occurs [1], which causes subsequent flow of labor, material, intellectual and other resources from the periphery to the center. It results in slowdown of growth rate in both leading global economies and developing countries. The resource supply of economic growth leads to the deficit of public finances. Some authors believe in the ability to unite financial systems [10], others prove negative effect on the economic development caused by incompatible national finances [11,12,13]. Development and growth of national economy is only possible when based on subfederal level development

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Conclusion