Assessing the impact of public-private partnership mechanisms on efficiency of regional socio-economic development

Regional and branch economy

Maintaining a stable socio-economic situation in the region means constantly improving the methods for implementing regional programs and projects. Regional development involves generating conditions for different sectors of the regional economy. The social infrastructure of the region forms the basis for improving the quality of life of the population and stimulates the growth of the region’s investment attractiveness. In this regard, one of the main directions of the regional development strategy is the social infrastructure. In view of reducing the costs of regional budgets for the development of the social sphere and shortening the deadlines for implementing social infrastructure projects, it is advisable to use the tool of public-private partnerships to solve this problem. Public-private partnerships are implemented through different forms of interaction between business and state. Modern regulatory and legislative framework allows to develop flexible, conditions that are the most optimal for this interaction and to fully satisfy the interests of private commercial structures, public authorities and society as a whole. The experience of successfully introducing public-private partnership projects in different regions of the country testifies to its economic efficiency in solving problems of social importance, which is reflected in studies on performance rankings of subjects of the Russian Federation. Development of investment potential, reduction of investment risk, increase in the values of the main performance indicators of the region is achieved through actively implementing the principles of mixed financing of social infrastructure in the region. Attracting funds from the business community together with the regional budget creates a synergetic effect in achieving the planned indicators of the region’s development characterizing its socio-economic situation and ensures the implementation of strategic goals. We propose to assess the importance of public-private partnerships in the development of the region by identifying the relationship between the indicators describing the effectiveness of regional development and the intensity with which public-private partnership mechanisms are implemented in this region. Methods of comparative analysis, aggregation, induction are used as a methodology for research. The results of ratings built via quantitative and qualitative analysis of the set of economic indicators served as a basis for the study.