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Financial Analytics: Science and Experience
 

Concession as an instrument to increase the efficiency of regional budgetary spending: Economic substance, indicators, risk

Vol. 9, Iss. 42, NOVEMBER 2016

PDF  Article PDF Version

Received: 10 October 2016

Received in revised form: 24 October 2016

Accepted: 7 November 2016

Available online: 17 November 2016

Subject Heading: Economic policy

JEL Classification: L32

Pages: 38-48

Shor I.M. Volgograd State University, Volgograd, Russian Federation
shorinnochka@rambler.ru

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.

Keywords: concession, efficiency, expenditures, regional budget, indicator, risk

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