Attract Private Investment Research Articles

Getting Public-Private Partnership ‘Right’ To Attract Private Investments

Getting Public-Private Partnership ‘Right’ To Attract Private Investments

АНАЛІЗ ІНВЕСТИЦІЙНОЇ ПРИВАБЛИВОСТІ АЛЬТЕРНАТИВНОЇ ЕНЕРГЕТИКИ УКРАЇНИ

The aim of research is to analyze the investment attractiveness of alternative energy source in Ukraine, form a roadmap for attracting investments in the reneval and creation of alternative energy generation, and identify optimal investment instruments from the perspective of their profitability and efficiency. The theoretical and methodological basis of research includes the legislative framework of Ukraine, regulatory documents of the energy sector of the economy, scientific papers of domestic and foreign scientists and specialists in the field of renewable energy. The study uses a set of approaches and methods, including, analysis, induction, systematization and generalization; comparative analysis; decomposition and modeling. It has been determined that the implementation of alternative energy in Ukraine is sufficiently regulated by legislative acts, but the main attention is given to supporting investment projects with significant reinvestments. It has been shown that the attractiveness rating of alternative energy generation differs depending on the criteria for assessing efficiency: wind power has the lowest levelized cost of energy according to the method of discounted cash flow analysis, hydro power has the highest stability and predictability rating, and bio power has the lowest and installation cost. The research has shown that Ukraine can not only supply energy to the EU system but also perform the function of stabilizing system imbalances. Investment flows for renewing Ukraine’s energy system can come from both private and institutional sources. To attract private investment, it is necessary to study not only state guarantees of profitability through cost savings for potential investors but also compare investment costs in Ukraine’s energy system with investment coasts in countries of origin. The burden of socially responsible investment can only be taken on by EU institutional structures. The first step in attracting foreign investment is to develop a thorough review of alternative energy generation and roadmaps for specific areas. Statistical data has been systematized and valuable preferences have been visualized for potential investments in alternative energy in Ukraine from the position of Ukraine itself.

ПУТИ ПОВЫШЕНИЯ ФИНАНСИРОВАНИЯ РЕГИОНАЛЬНЫХ ПРОГРАММ ПРОФИЛАКТИКИ ПРЕСТУПЛЕНИЙ (ГОСУДАРСТВЕННО-ЧАСТНОЕ ПАРТНЕРСТВО)

The article studies the state, issues, and patterns of criminological planning at the level of the subject of the Russian Federation. The study primarily aims to detect shortcomings in the mechanism of financial support for regional criminological programming. The analysis conducted helps determine a mainly internal source-based distributive principle of complex regional programs financing. At the same time, the resources of private investors are practically not involved in the implementation of regional criminological planning documents, resulting in missed opportunities for public and private partnership. The study has determined a number of important measures effective in attracting private investments to the process of criminological programming in the subject of the Russian Federation and at the municipal level, and to the increase in the level of coordination between the law enforcement agencies and the state authorities of the subjects.

Rural parks in neoliberal America: can rural parks adopt urban funding strategies?

Many high-profile urban parks in the US are experiencing a resurgence not seen since the late nineteenth century due to an influx of funding from private philanthropic organisations. Conversely, despite being essential spaces for rural quality of life, rural parks have struggled to attract private funding. This article compares two urban and two rural case studies to reveal this funding discrepancy. The comparison is used to identify the many roles urban parks play, which make them ideal opportunities for philanthropic funding, and, subsequently, the limitations that rural parks face when attracting similar investment. Ultimately, this article finds that rural parks struggle to attract private investors because rural areas’ inherently boundless and jurisdictionally ambiguous reality fails to provide most corporate philanthropic organisations and municipal leaders with a clear and mutually beneficial suite of financial and political benefits.

Influence of Value Added Tax Revenue on Private Domestic Investment in Developing Countries

The study's overarching goal is to assess the influence of Value Added Tax (VAT) revenue on private domestic investment in emerging countries. The study used a time series research design, and it is a case study of one country, Tanzania. Annual time series data from 1998 to 2020 were used in the study. The data on tax income (VAT) is taken from the Tanzania Revenue Authority website and the Bank of Tanzania, while the data on private domestic investment as Gross fixed capital formation of the private sector as a percentage of GDP is obtained from the World Bank. Following the first tests for heteroscedasticity, multi-collinearity, unit roots, lag length selection, and co-integrating vectors. The long-run and short-run correlations were then computed. The findings demonstrated that in the long run, value added tax is negatively associated to private domestic investment. The analysis showed a negative association between the degree of investment and the value added tax parameter estimates. Even though value added tax generates government revenue, increasing it encourages tax evasion and leads to high prices of goods, putting the burden on low-income earners, reducing disposable income and distorting saving and private domestic investment. The study recommends that governments reduce VAT rates, simplify their tax regimes, address any tax administrative issues, and plug all gaps for tax evasion in order to increase revenue generation and attract private investments. For example, the government should improve an appropriate tax system and implement progressive tax reforms to attract private investors. As the study's findings demonstrated that value added tax has a negative long-term impact on investment, a greater value added tax levied causes higher corporate costs. Governments must also lower VAT rates, simplify their tax regimes, address any tax administrative issues, and close any gaps for tax evasion in order to increase revenue generation and attract private investment. For example, the government should improve an appropriate tax system and implement progressive tax reforms to attract private investors. As the study's findings demonstrated that value added tax has a negative long-term impact on investment, a greater value added tax levied causes higher corporate costs.

On Urban Planning and Socio-economic Development of Cities in Russia

The article analyzes some features of urban planning and socio-economic development in Russia, in connection with which problems are identified that require legislative resolution. Exploring the issues of urban planning and socio-economic development, the author used analysis and synthesis, formal legal, logical methods. In the analysis of legislation and its emerging practice, the dialectical method was applied. It was revealed that the change in the functional zones of urban lands can often be carried out unreasonably, which leads to challenging these changes in court. At the same time, the consequences of such contestation by the legislator are not directly indicated, which leads to legal uncertainty regarding the possible use of the land plot. It is proposed to legislate as the consequences of declaring disputed changes invalid by the court: restoration of the former functional zone, bringing the territorial zone in line with the functional one by introducing changes to the land use and development rules by city authorities. Based on the results of a study of the practice of socio-economic development of cities, it was established that master plans and concepts are being developed in cities, the adoption of which is not provided for by the legislation on urban planning and strategic planning. According to the author, it is necessary to amend the Federal Law "On Strategic Planning in the Russian Federation" and supplement the list of strategic planning documents of the municipality with master plans and the concept of the city's development, which will correspond to the established practice. It is expected that the proposed ideas will improve the efficiency of urban space management, attract private investment in the formation of a comfortable urban environment.

Grid-Forming Virtual Power Plants: Concepts, Technologies and Advantages

Virtual Power Plants (VPPs) are efficient structures for attracting private investment, increasing the penetration of renewable energy and reducing the cost of electricity for consumers. It is expected that the number of VPPs will increase rapidly as their financial return is attractive to investors. VPPs will provide added value to consumers, to power systems and to electricity markets by contributing to different services such as the energy and load-following services. One of the capabilities that will become critical in the near future, when large power plants are retired, is grid-forming capability. This review paper introduces the concept of grid-forming VPPs along with their corresponding technologies and their advantages for the new generation of power systems with many connected VPPs.

Systematization of the Factors Influencing the Activity of Private Investors in the Russian Securities Market, in the Context of Professional Mediation

The article outlines the problem of mobilizing the resource potential of private investors through the mechanisms of professional mediation in the securities market. The significance of the processes of transformation of private savings into investments for the purposes of ensuring economic growth and the stability of the economic system of the Russian Federation is beyond doubt. This aspect becomes especially relevant in the context of the sanctions load. In view of the limited nature of Russian institutional investors and the decrease in the share of non-residents in the turnover on the Russian securities market, the emphasis is shifting to private investors. Professional intermediaries providing investors with the necessary services, investment products and infrastructure solutions are able to contribute to the sustainable presence of private investors in the market. The authors present a detailed analysis of the processes of development of private investment using the mechanisms of professional mediation in the securities market, identifying cause-and-effect relationships of the current dynamics for the period 2017–2021. The study made it possible to identify a number of factors that determine the presence and activity of private investors in the market. The systematization of these factors has been carried out, taking into account the possibility of professional intermediaries influencing the processes of attracting private investors to the market. Using a graphical modeling method in the form of an Ishikawa relationship diagram, the factors were prioritized both by groups of factors and within each group. The results of the study can be used to modify the activities of professional intermediaries in the securities market in order to maintain the growth rate of the number of private investors and maximize their activity.

Modeling the influence of industry forces on intention to invest in renewable energy resources with the moderating effect of sustainable competitive strategy

In response to Agenda 2030 and the Paris Climate Accord, the Ghana Energy Transition has been inaugurated to ensure a speedy shift from fossil fuel sources to clean energy (Solar, Wind, Thermal, Ocean Energy, Hydro Energy etc.) to avoid the worst of climate change. To facilitate the transition, we have developed an integrated model to explain the relationship between industry forces and investment intentions in renewable energy resources, and the moderating role of sustainable competitive strategy on the relationship between industry forces and investment intention. Cross-sectional survey data from Ghanaian private firms have been collected between January and February, 2022, and used for the study. To test our hypotheses, structural equation modelling approach and SMART-PLS 3.3.1 have been used. The results have shown that industry forces have significant effects on investment intention. The results have further shown that sustainable competitive strategy has significant relationships with investment intention. Moreover, the sustainable competitive strategy dimension of entrepreneurial competency has moderated the relationship between industry forces and investment intention. These results offer theoretical, policy and practical implications and guidance on strategies needed to attract private investment in renewable energy resources in Ghana and beyond.

Economic effects of green bond market development in Asian economies

PurposeIn the recent decades, the green projects have suffered from serious lack of investment, highlighting the major role of green financing to attract private investors to these projects. The main purpose of this paper is to explore the economic impacts of green bond (GB) market in 37 Asian economies.Design/methodology/approachTo empirically analyze the impacts of issued GBs on different macroeconomic variables of 37 Asian countries, the co-integration and causality approaches are employed to analyze the data for the period of 2002–2018.FindingsThe primary findings indicated the presence of a unidirectional causal direction running from inflation rate, inward FDI, governance indicator, and human development index to issued GBs for the sample of Asian economies that were analyzed. Regarding Group I (higher and upper-middle income Asian countries), there are bi-directional relationships between the GB and other variables, indicating that the policies of governments in each variable influence other variables, whereas for Group II (low and lower-middle income Asian countries), there are uni-directional relationships running from HDI, governance indicator, and inflation rate to GBs, but only bi-directional causal relationships.Practical implicationsIn Asian economies with a lower per capita income, implementing policies to enhance the efficiency of issued GBs so that they have a positive impact on economic activities and human development may be an appropriate strategy with major policy implications. In this way, financial system improvement, financing rural electrification and the transition to electric vehicles through GBs are recommended, while for the case of high- and upper-middle-income economies in Asia, simplifying capital flows from abroad to the GB market can be considered a practical policy.Originality/valueThis study contributes to current green finance research by studying the effects of several variables on the GB market for the instance of Asian countries with low and lower-middle incomes, as well as high-upper middle incomes.

Evaluating the impact of productive uses of electricity on mini-grid bankability

Mini-grids are discussed as a cost-effective and sustainable solution to provide electricity to populations lacking access, of which the majority reside in sub-Saharan Africa. Projects struggle to be fiscally solvent, however, in part because electricity demand from rural households is low relative to installed mini-grid generation and distribution capacity, making it difficult to recoup investment costs. This paper explores how productive uses of electricity may increase electricity demand and evaluates impacts of increased electrical load to the technical and economic metrics of mini-grid projects. A full cashflow analysis is completed to evaluate business model efficacy for mini-grid developers and investors for a case study of a township in Sierra Leone. Productive uses of electricity are shown to have minimal improvement to the financial viability of residential mini-grid projects, and subsidies are required to reach financial metrics suitable to attract private investment. Of the productive uses investigated, year-round loads had the most positive impact to payback periods. Seasonal loads offer only small improvements to payback period and internal rate of return because they require extra generation assets to meet peak demand in the high season that are left idle or heavily under-loaded during the low season. Overall, the study finds the most effective way to improve financial outcomes through productive uses is to increase the mini-grid load factor with productive uses of electricity that operate year-round.

METHODS AND TOOLS FOR STIMULATING THE INNOVATION ACTIVITY OF SMALL ENTERPRISES IN THE RUSSIAN FEDERATION

The article considers theoretical approaches to the identification and systematization of methods and tools of state stimulation of innovation, and provides an overview of foreign practice. In world practice, various methods of stimulating innovation activity are used, both economic and organizational and legal. The current system of stimulating the innovation activity of small enterprises in the Russian Federation is systematized and analyzed. As a result, problems were identified at the level of financial and non-financial methods. In terms of financial methods, there is a bureaucratic procedure for obtaining financing, difficulty in obtaining preferential loans, poorly developed preferential taxation, the venture capital investment market is practically not developed, difficulties in attracting private investment through online platforms, etc. Among non–financial methods there is a lack of information about possible support tools, insufficient use of tools that stimulate cooperation of participants in the innovation process. It is concluded that it is necessary to create an organizational tool – a meeting place for participants in the innovation process to solve the problem of transferring innovation from a research center or university to a corporation.

Forest Biomass Policies and Regulations in the United States of America

Using woody biomass from public lands could attract private investments, increase carbon dioxide emission reductions from sustainably harvested low-grade wood to mitigate climate change, provide benefits for the environment, and support rural community economies. Available for use are about 210 million oven dry tons (in the western U.S. alone) of small-diameter wood and harvest residues that could be removed through hazard-fuel treatments and used for bioenergy and bioproducts; representing an economic value of approximately USD 5.97 billion (109). Reaching that utilization goal requires an assessment of current U.S. policies, regulations and directives influencing the use of forest biomass and identification of barriers, challenges, and potential opportunities associated with the use of woody biomass from public lands. One objective of this review is to support the implementation of the U.S. Department of Agriculture, Forest Service (USDA-FS) new effort called “Confronting the Wildfire Crisis: A Strategy for Protecting Communities and Improving Resilience in America’s Forests”, but greater coordination of public policies (regulatory legislation, government subsidies, support programs) at different government levels could increase adoption of forest biomass for bioenergy and bioproducts while also promoting different supply chains for long-term biomass supplies and industry investments. Harmonizing the definition of key biomass terms used by different programs that support using forest biomass for bioenergy and other bioproducts, including the Renewable Fuel Standard, may increase forest biomass use from public lands.

Leveraging aid for trade to mobilize climate finance in the least developed countries

The LDCs, which are not only highly vulnerable and least prepared to face climate-related challenges but also resource-strapped, can leverage AFT to mobilize climate finance. This, however, requires better appreciation of the need to enhance coordination, build capacity and achieve synergies between two important sources of development finance. Since this is an under researched area, this paper has made the attempt to fill the void by exploring, with the help of examples and where possible, various possibilities that exist. While indirect support for feasibility studies and project preparation can contribute to the foundational work in leveraging climate finance, direct support such as co-financing, developing proof of concept or de-risking projects to attract private investment, including through blended financing modality, is important to unlock the financing potential. At the same time, there is a need to maintain the right balance between mitigation and adaption when it comes to climate finance. One major limitation of the paper is that, in the interest of brevity, it narrowly focuses on select modalities and instruments such as development finance and private investment.

Ghana renewable energy master plan: The benefits of private sector participation

This paper assesses the benefits of private sector participation in the Ghana Renewal Energy Master Plan (REMP) using a stylized Generation Expansion Planning model and concludes with a discussion on a financial incentive that could be offered to private investors to encourage their participation in the REMP. Using cost of electricity provision and level of demand unmet, the paper argues that there is significant benefit in incentivizing the private sector to participate in the REMP especially when the government faces budgetary constraint and unable to meet all electricity demands. Based on its 2016 feed-in-tariff for renewable energy generators and going by its annual investment levels in new generation capacity, Ghana stands to save on average, as much as US$265 million per year in cost of electricity provision along with a reduction in unmet demand by an average of 6.5% if it could attract private investors to participate in the REMP at desired levels. This potential cost savings can serve as the basis for a financial incentive scheme aimed at attracting private sector participation. This research has the tendency to unlock the conundrum of attracting private financing towards energy transition in similar developing economies.

Attracting private investment in the sports sector in Russian regions

In the time of the information age and rapid development of service sector, sports industry is becoming one of the most popular and relevant economy sectors. Every year, sports events acquire the importance of the main events of the year along with scientific discoveries and leading cultural events, which indicates the importance of sports in the life of society. However, it should be noted that the current state of Russian sports as a means of obtaining commercial profits is extremely unsatisfactory. Despite a number of major, truly global sports events that our country has hosted (Winter Olympics in Sochi 2014, Confederations Cup 2017, World Cup 2018, etc.), the commercial potential of Russian sports remains extremely low and noticeably loses out to Western competitors. On this basis, the relevance of the problems of Russian sports is growing in terms of generating commercial profits and attracting private investment not only to federal centers, but also to the regions. The article examines the problem of attracting private funds to the regional sports of Russia, gives examples of effective investments, and analyzes the experience of foreign sports industries.

The Effect of Institutions on Economic Growth in Muslim Countries

For the last century, Muslim countries have been generally recalled by political and economic instabilities. They have been facing important problems such as poverty, internal turmoil, social disorders, lack of democracy, inadequate health services and low education level that obstruct their economic developments. These problems in general are addressed to the low level of governance and spoiled institutional structures of markets and political area. According to the good governance approach, efficient markets attract private investors which will drive economic development and growth. For a market to be efficient, various institutions must be established and markets must operate within that framework. This work examines the relationship between the institutions and economic growth in Muslim countries to address this problem. The problem statement is: Is there a significant relationship between the institutions and economic growth in Muslim countries? The D-8 Organization for Economic Cooperation Countries are used as a proxy of Muslim countries. World Bank World Governance Indicators are used as a proxy for the levels of institutions and UNDP Human Development Index is used to proxy human capital. Results show that there exists a significant relationship between the institutions and economic growth in Muslim countries.

Predictive Modelling in Clinical Bioinformatics: Key Concepts for Startups.

Clinical bioinformatics is a newly emerging field that applies bioinformatics techniques for facilitating the identification of diseases, discovery of biomarkers, and therapy decision. Mathematical modelling is part of bioinformatics analysis pipelines and a fundamental step to extract clinical insights from genomes, transcriptomes and proteomes of patients. Often, the chosen modelling techniques relies on either statistical, machine learning or deterministic approaches. Research that combines bioinformatics with modelling techniques have been generating innovative biomedical technology, algorithms and models with biotech applications, attracting private investment to develop new business; however, startups that emerge from these technologies have been facing difficulties to implement clinical bioinformatics pipelines, protect their technology and generate profit. In this commentary, we discuss the main concepts that startups should know for enabling a successful application of predictive modelling in clinical bioinformatics. Here we will focus on key modelling concepts, provide some successful examples and briefly discuss the modelling framework choice. We also highlight some aspects to be taken into account for a successful implementation of cost-effective bioinformatics from a business perspective.

Legal guarantees of financial security for providing aid to Ukraine after the war

The paper provides a comprehensive study of legal guarantees of financial security in relation to the provision of assistance for the recovery and reconstruction of Ukraine. Ways of holding the Russian Federation accountable for an international illegal act (military aggression of the Russian Federation against Ukraine) and options for the implementation of the future "Marshall Plan" for Ukraine were analyzed, a mechanism for the implementation of the aid program for Ukraine after the war was worked out in a conceptual dimension. It is noted that the Program of Assistance for the Restoration and Reconstruction of Ukraine after the war should become a key direction of coordinated activity of public bodies of Ukraine, which involves the implementation of a complex of measures of a political, administrative, financial nature, as well as at the domestic (national) level in close coordination of public administration bodies, law enforcement and judicial bodies, municipalities and representatives of academia, civil society development institutes, and at the international level with the involvement of G20 states and international organizations. The real state, proposals and available results of the so-called Marshall Plan for Ukraine were considered, in particular, the main sources of aid to Ukraine were analyzed, such as bilateral aid, which will be implemented at the expense of such forms as grants, credit guarantees, loans, inkind contributions, financial support of international institutions through the World Bank, the European Bank for Reconstruction and Development, the European Investment Bank, the International Monetary Fund, the possibility of using confiscated Russian assets and attracting private investment. A set of measures for the implementation of the "Assistance Program for the Reconstruction of the Ukrainian State after the War" has been drawn up.

Chinese ICT and Smart City Initiatives in Kenya

Chinese ICT and Smart City Initiatives in Kenya Bulelani Jili (bio) There are many threads of discourse in Africa-China relations, inspired by growing flows of investment, trade, and aid. One important consideration in the budding relationships between African states and China is the adoption of digital infrastructure and surveillance technologies.1 Many experts have argued that China's intentions are to garner access to African developing markets while also allowing Beijing a "backdoor" through which to secure access to data. Thus, research and media coverage have focused disproportionately on Chinese reasons and incentives in the proliferation of information and communications technology (ICT) and surveillance technology, but little systematic attention has focused on the multiple uses, properties, and applications of these digital tools in local environments. For this reason, this essay seeks to critically examine some of the more familiar preoccupations about the exportation of Chinese governance and surveillance technologies to Africa in the process of developing countries' ICT infrastructure and smart cities. The essay chiefly brings to the fore the local factors that contribute to the growing use of Chinese digital infrastructure in Kenya. There is limited analytical research on the spread of Chinese digital infrastructure and its consequences for African local environments and actors. Accordingly, the essay seeks to examine the growing use of Chinese-produced digital infrastructure in Kenya and its consequences. It focuses attention on the often-neglected details of Chinese operations and local smart city initiatives. [End Page 40] Precisely, the aim is to expand understanding of how local factors and conditions mediate China's growing geopolitical footprint. This essay is divided into four parts. The first section discusses the Kenyan case as an example of the establishment of Chinese ICT infrastructure in an African context. It explores the corporate and public nexuses that buttress the vision of a digitalized Kenyan society and demonstrates that Chinese engagements are in part a consequence of local factors, which challenges notions of a Chinese strategy to export normative values and surveillance practices. At the same time, this position does not necessarily imply the absence of Chinese state strategy in Africa and threats to civil liberties. Rather, it simply illustrates how local and global factors play into each other and how they determine practical outcomes. The second section looks at the adoption of smart cities in Kenya and the so-called safe city model, which includes digital surveillance technologies. The third section addresses Beijing's "no strings attached" policy and contends that China's proclivity to financially support state actors regardless of their regime type or human rights record renders citizens in these states more vulnerable to government transgressions. The essay concludes by noting that even in the context of a democratic government like Kenya's, bolstering state surveillance capacity without robust checks and balances renders citizens more vulnerable to the misuse of digital tools. Building ICT Infrastructure in Kenya In 1998, the Kenya Communication Act ended the state-run monopoly held by Kenya Posts and Telecommunication Corporation.2 In 2006, the Ministry of Information and Communications ushered in the National ICT Policy, which fully liberalized the telecommunications sector and created a framework for private actors to enter the ICT market.3 By introducing this liberalization strategy, the Kenyan government took a principal role in shaping the country's ICT sector as one focused on privatizing state-owned enterprises and attracting private investment in undersea fiber-optic cables, internet service providers, and mobile network operators. The vision, set in [End Page 41] the 2006 National ICT Policy and again later in the 2020 Policy Gazette, promoted the notion of ICT as a development tool for improving health, employment, and education outcomes. Digital infrastructure is thus a means by which politicians build and plan the future of Kenya's development. Despite these ICT policy changes, the government in 2006 did not have the infrastructure capacity to palpably realize its development ambitions. Kenya relied on satellite technology for international connectivity, which was both limited and prohibitively expensive for most citizens.4 To transition from narrowband, which operates on satellite technology, to fiber-optic-powered broadband, Chinese firms Huawei and ZTE were contracted to build the required infrastructure to close this gap...