Abstract
The paper considers the influence of road infrastructure development level on the economic results of the region and the position of the region in the Russian investment attractiveness rating. Authors test theoretical assumptions about correlation between regional and inter-municipal road networks conditions and region‘s investment attractiveness. The impact of development and maintenance of regional and inter-municipal importance highways on investment attractiveness is evaluated using the ordinary least squares method (OLS). Authors concluded that there is a need of priority financing for the road development in regions with low dependence on fuel and energy minerals. As a result, an increase in the length of highways by 1% can lead to an increase in the GRP of regions with low fuel and energy minerals dependence by 0.347%. Also, 1% decrease in the share of roads that do not meet regulatory requirements at such regions will give an additional increase in GRP by 0.186%. Based on the identified results improvements of intergovernmental transfers’ distribution mechanism for implementation the events included into the national project “Safe and high-quality highways” are proposed. The total economic effect of the proposed initiatives implementation is estimated at 2.7 trillion rubles.
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