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Sustainable Financing for Transport Infrastructure: An Integral Approach for the Russian Federation

Author

Listed:
  • Alexander Chupin

    (Faculty of Economics, Peoples’ Friendship University of Russia (RUDN University), 6 Miklukho-Maklaya Street, 117198 Moscow, Russia)

  • Alexey Sorokin

    (Faculty of Economics, Peoples’ Friendship University of Russia (RUDN University), 6 Miklukho-Maklaya Street, 117198 Moscow, Russia)

  • Alena Veselko

    (Faculty of Economics, Peoples’ Friendship University of Russia (RUDN University), 6 Miklukho-Maklaya Street, 117198 Moscow, Russia)

  • Dmitry Morkovkin

    (Departament of Economic Theory, Financial University under the Government of the Russian Federation, 49/2 Leningradsky Prospekt, 125167 Moscow, Russia)

  • Victor Ya. Pishchik

    (Department of the World Economy and Global Finance, Faculty of the International Economic Relations, Financial University under the Government of the Russian Federation, 49/2 Leningradsky Prospekt, 125167 Moscow, Russia)

  • Petr V. Alekseev

    (Department of the World Economy and Global Finance, Faculty of the International Economic Relations, Financial University under the Government of the Russian Federation, 49/2 Leningradsky Prospekt, 125167 Moscow, Russia)

Abstract

The development of global transport infrastructure is a crucial aspect of economic growth and prosperity. In this study, the main trends in the development of global transport infrastructure are analyzed, with a focus on the state and trends in the functioning of the national transport infrastructure of the Russian Federation. By identifying key problems and determinants of financial growth, a preliminary decomposition is made to guide future development. Proceeding from the fact that the innovative development of Russia’s transport infrastructure should occur through state stimulation of the development of intellectual and partnership relationships and the formation of a digital environment for managing projects for its innovative transformation at the state level, this study identifies the goals, methods, and levels of ensuring the implementation of innovative transformations in transport infrastructure. Consideration of the historical aspects of the formation of the modern economy and comprehension of the mechanisms of state management and tools to ensure innovative transformations in the sphere of transport allowed us to identify three stages (dogmatic, strategic regulation, and innovative integration) of transformation regarding the theory of the state management for the innovative development of transport infrastructure in Russia. Taking into account the content of these periods of transformation allowed us to detail the specifics of the modern stage; highlight the shortcomings; and propose theoretical and methodological foundations for revising the provisions of the state regulation of innovative development in transport infrastructure. To determine the effectiveness of the processes of the state regulation of innovation activity in the transport industry, we propose a model for assessing the effectiveness of innovation activity in the transport complex, which is presented in the form of a three-level parametric system, where the first group of indicators allows us to assess the innovation activity of economic entities in the transport industry; the second allows us to assess innovation potential; and the third allows us to assess the effectiveness of innovation. The novelty of the proposed model is the consideration of the principles of dynamism, perspective, and expediency, and its application allows us to establish the level of innovative development in transport infrastructure. An important factor in ensuring the sustainable development of a country’s economy and forming its positive image in the world is its financial attractiveness. Therefore, the assessment of financial attractiveness is a priority task for the development of modern sustainable transport infrastructure in Russia.

Suggested Citation

  • Alexander Chupin & Alexey Sorokin & Alena Veselko & Dmitry Morkovkin & Victor Ya. Pishchik & Petr V. Alekseev, 2024. "Sustainable Financing for Transport Infrastructure: An Integral Approach for the Russian Federation," Sustainability, MDPI, vol. 16(8), pages 1-13, April.
    • Handle: RePEc:gam:jsusta:v:16:y:2024:i:8:p:3108-:d:1372325
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    References listed on IDEAS

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