Importance The article reviews the economic substance, indicators and risks of concession used as a contemporary and promising instrument to increase the efficiency of regional budgetary spending. Objectives The research represents a comprehensive examination of the economic substance, risks and principles of concession used to increase the efficiency of regional budgetary spending. I also elaborate a scientific approach to reasonable decision-making on the use of concession to manage regional budgetary spending. Methods The research relies upon methods of systems analysis, scientific abstraction, induction, deduction, comparison, grouping and expert assessments. Results I revealed the economic substance, specified indicators and risks of concessions as a contemporary and promising tool to increase the efficiency of regional budgetary spending. Conclusions and Relevance The concession mechanism, regionally, pursues raising investment resources for the region's economy to ensure the effective operation of property owned by the constituent entity of the Russian Federation, and the efficiency of regional budgetary spending. Concession is especially vital in infrastructure sectors, which are conventionally owned by the State and needed for effective economic processes. Concession demonstrates key aspects of public private partnership.
Gukova A.V., Dorzhdeev A.V., Inshakov O.V., Shor D.M. et al. Rezul'tativnost' i effektivnost' byudzhetnykh raskhodov: monografiya [Efficacy and efficiency of budgetary spending: a monograph]. Moscow, Finansy Publ., 2009, 720 p.
Bill' M.V. [Foreign experience in legislative regulation and organization of public-private partnership]. Rossiiskii yuridicheskii zhurnal = Russian Juridical Journal, 2014, no. 6, pp. 27–34. (In Russ.)
Belitskaya A.V. Pravovoe regulirovanie gosudarstvenno-chastnogo partnerstva: monografiya [Legal regulation of public-private partnership: a monograph]. Moscow, Statut Publ., 2012, 191 p.
Gritsai S.V. [Basic principles of public-private partnership]. Ekonomicheskie nauki. Prilozhenie = Economic Sciences. Supplement, 2005, no. 6, p. 34. (In Russ.)
Fil'chenkov V.A. [Organization of public-private partnerships in the social sector of the region]. Rossiiskoe predprinimatel'stvo = Russian Journal of Entrepreneurship, 2008, no. 4-1, pp. 19–23. (In Russ.)
Varnavskii V.G. [Public-private partnership in Russia: origination issues]. Otechestvennye zapiski = Notes of the Fartherland, 2004, no. 6, pp. 172–180. (In Russ.)
Kilinkarov V.V. [Current issues of dispute resolution in public-private partnerships]. Zakon = Law, 2015, no. 2, pp. 173–195. (In Russ.)
Talapina E.A. [Concession as a form of public-private partnership]. Khozyaistvo i pravo = Business and Law, 2009, no. 4, pp. 69–74. (In Russ.)
Bogdanova I.S. Osushchestvlenie gosudarstvom prava sobstvennosti na nedvizhimoe imushchestvo, sostavlyayushchee ego kaznu: na primere zdanii i sooruzhenii [The Government's exercise of its title for real estate held as part of its treasury: the case study of buildings and facilities]. Moscow, Yurisprudentsiya Publ., 2012, 280 p.
Kondrat'eva U.D. [Specifics of PPP forms]. Sovremennoe pravo = Modern Law, 2016, no. 1, pp. 59–65. (In Russ.)
Zasypkin D.Yu. [The concept and indicia of the concession agreement]. Rossiiskii yuridicheskii zhurnal = Russian Juridical Journal, 2011, no. 2, pp. 177–184. (In Russ.)
Mizikovskii I.E., Kemaeva S.A. [The legal and accounting framework for business operations under concession agreements]. Ekonomika i predprinimatel'stvo = Journal of Economy and Entrepreneurship, 2014, no. 3, pp. 185–191. (In Russ.)
Zusman E.V., Dolgikh I.A. [Concession: an analysis of key novels]. Zakon = Law, 2015, no. 3, pp. 50–59. (In Russ.)
Shakhov O.F., Millerman A.S. [Risks of concession projects]. Finansy = Finance, 2011, no. 4, pp. 43–48. (In Russ.)
Spitsyna T.A. [Insurance of investment projects implemented through concession agreements]. Organizatsiya prodazh strahovykh produktov = Organization of Insurance Product Sales, 2009, no. 1, pp. 89–93. (In Russ.)