Foreign and National Experience of Implementation of Infrastructural Projects and Territorial Development Programs

Abstract

Infrastructural investment differs significantly from the forecasted indicators because of global demand. The politicization and overregulation of global infrastructure market negatively affects its growth. The effectiveness of state programs depends on quality of the institutional environment. The paper analyses approaches to the implementation of national programs in China, USA, Great Britain, and Germany. China’s high economic growth rate is due not only to low cost of labor, but also to the fact of joining the World Trade Organization and large-scale infrastructure investments. Successful experience of infrastructural programs’ implementation in the UK is mostly due to the fact that the selection of projects is based on their social and economic significance and is made in accordance with the goals of public policy. Public and private partnership (PPP) is a popular mechanism for infrastructure projects’ financing. However, there are cases of inefficient public and private partnership (PPP) projects. Risks of a private partner may not correspond to the level of required profitability even under conditions of strategic decision making when project is supported by the state. Infrastructural bonds are an effective tool for public and private partnership (PPP) in conditions of a shortage of credit resources for the construction of expensive infrastructural facilities. Risks associated with project implementation can be reduced thank to management quality. Public control encourages the state to evaluate large infrastructural projects in terms of economic benefits and potential environmental, and social consequences. The issues of infrastructural development are relevant for Russian regions. The gap between demand and actual investment is 1.63% of GDP. National infrastructure projects should be implemented in accordance with goals and objectives of strategies of social and economic development.