DOES PUBLIC-PRIVATE PARTNERSHIP LEVEL AFFECT INVESTMENT ACTIVITY IN RUSSIAN REGIONS?

The article considers the influence of the development level of the state-private partnership of the region on its investment attractiveness. In this study, the task of rigorous justification and assessment of the level of public-private partnership influence on the investment activity of the Russian regions has been set and solved. At the same time, the importance of the conditions and mechanisms for the formation of infrastructure capital (within the framework of public-private partnership projects) and its impact on the economic growth of regional economic systems was indirectly assessed. The regression model confirms the influence of the level of PPP development on the volume of investments in the region. The parameters of the model also indicate that in the dynamics of recent years (in 2015 relative to 2014), the influence of the PPP level of the region increased in absolute terms by four times, according to the corresponding increase in the value of the coefficient over the independent variable. At the same time, the degree of explanation within the framework of the model of differences in the regions of Russia in terms of investment volume in 2015 decreased to 20% (in 2014 this figure was 33%). Such dynamics indicate an increase in the range of factors (in addition to the level of PPP development) affecting the volume of investments in Russia in 2015 compared to 2014. Such factors could be external financial and economic factors caused by the complication of the geopolitical situation around Russia. (c) 2019 Published by Future Academy www.FutureAcademy.org.UK