Macro Environmental Factors in the Development of Public-Private Partnership in Russia

The transformation of sustainable economic development approaches has created the institution of public-private partnership (PPP) as a form of interaction for the construction and operation of infrastructure facilities. The success of such initiatives creates a supportive environment that meets social needs. In this paper, the authors analyze the dynamics and structure of the distribution of public-private partnership projects in Russia in 2007-2020 to search for significant determinants in the development of this institution. The obtained results of the static and correlation-regression analysis made it possible to establish the presence of a noticeable direct relationship between the level of investment in public-private partnership projects and the size of the gross regional product. A negative impact on the development of public-private partnership projects is exerted by an increase in the tax burden on business, a high cost of loans, and an increase in inflation, which entails an increase in the capital and operating project costs. At the same time, a high level of government spending on the gross domestic product has a positive impact on the implementation of public-private partnership projects. Thus, the activation of the public-private partnership institution in this context should be aimed at improving the macro-state of the economy. Disciplinary: Macro Economics, State and Regional Administration & Policy, Institutional Economics. (C) 2021 INT TRANS J ENG MANAG SCI TECH.