Concessionary Model of the Real Investment Process Financing Based on the Financial Engineering Tools

Abstract

Nowadays a considerable attention is paid to the issues of public and private partnership within development of investment projects and to possible prospects of development of state-private interaction forms in the investment sphere, in particular, concessions. The enhancement of interaction forms of the state with the corporate sector of economy in the field of real investments implementation and within development of investing programs of a certain priority requiring considerable investments has a strategic value, both federal and regional. Thus, it is important to understand the role and the benefit of each participant of the investment market, to determine the accurate standard, legislative, and contractual basis, to analyse quickly the financial performance of real investments at all the stages of implementation. The experience of many countries of the world with various economic systems and models, the development level of the market relations, witnesses that one of the most effective ways of providing quantity and quality characteristics of state-owned property objects is attraction of a private capital to financing and management. However, it shall be done not on the ways of their privatisation, but on a concessionary basis. One of the most important and perspective directions of economic policy of the state in the field of management of the objects in their property, is the solution of an investment problem in general and the budget problem in particular, is a broad application of concessionary agreements and projects, because concessions are an option of preserving the state-owned property.

DOI: 10.5901/mjss.2015.v6n3s3p399