IDEAS home Printed from https://ideas.repec.org/a/ura/ecregj/v1y2015i4p260-274.html
   My bibliography  Save this article

Substantiation of Resource Territories Development: Complex «Meso-Level» Problem

Author

Listed:
  • Valeriy Kryukov

    (Institute of Economics and Industrial Engineering SB RAS)

  • Anastasiya Sevastyanova

    (Institute of Economics&Industrial Engineering SB RAS)

  • Anatoliy Tokarev

    (Institute of Economics & Industrial Engineering)

  • Vladimir Shmat

    (Institute of Economics and Industrial Engineering SD RAS)

Abstract

The paper presents an approach to the analysis and evaluation of integrated investment projects, which consist of infrastructure facilities and industrial clusters, allocated in poorly developed areas rich with natural resources. It shows the feasibility of a public-private partnership during the construction of infrastructure facilities in order to minimize the risks and maximize the benefits. The conceptual framework of developed approach is associated with the ideas and principles of the «impact investing» («creating shared values») and inclusive economic development. These are increasingly used in the world, especially to accelerate the socio-economic development of the backward countries and territories. The article describes an international experience and justifies the relevance of the application of these concepts to the Russian context. We revealed methodical problems associated with the applying of traditional methods to evaluate economic effects of the project investment in conditions of high uncertainty. It is necessary to use models and methods (real options analysis, fuzzy cognitive models), which allow directly to take into account uncertainty and project risks. The novelty of the article consists in methodical tools for evaluating the socio-economic efficiency of the complex projects for infrastructure development and resources development. The elaborated approach has been applied for substantiation of the road construction project in the Berezovsky district of Khanty-Mansi Autonomous Okrug. It is shown that there are opportunities to generate a complex of institutional, organizational and financial conditions, under which the implementation of the project will be attractive for investors and for the state and will bring socio-economic benefits to the territory. The proposed approach and tools can be used in the socio-economic strategic planning under the justification of infrastructure projects in the new development areas of resource rich regions.

Suggested Citation

  • Valeriy Kryukov & Anastasiya Sevastyanova & Anatoliy Tokarev & Vladimir Shmat, 2015. "Substantiation of Resource Territories Development: Complex «Meso-Level» Problem," Economy of region, Centre for Economic Security, Institute of Economics of Ural Branch of Russian Academy of Sciences, vol. 1(4), pages 260-274.
    • Handle: RePEc:ura:ecregj:v:1:y:2015:i:4:p:260-274
    as

    Download full text from publisher

    File URL: http://economyofregion.ru/Data/Issues/ER2015/December_2015/ERDecember2015_260_274.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Aleksandr Tatarkin & Olga Romanova, 2014. "Industrial policy: genesis, regional features and legislative provision," Economy of region, Centre for Economic Security, Institute of Economics of Ural Branch of Russian Academy of Sciences, vol. 1(2), pages 9-21.
    2. David G. Laughton, 1998. "The Potential for Use of Modern Asset Pricing Methods for Upstream Petroleum Project Evaluation: Introductory Remarks," The Energy Journal, International Association for Energy Economics, vol. 0(Number 1).
    3. David G. Laughton, 1998. "The Potential for Use of Modern Asset Pricing Methods for Upstream Petroleum Project Evaluation: Concluding Remarks," The Energy Journal, International Association for Energy Economics, vol. 0(Number 1), pages 149-153.
    4. Gordon Sick & Andrea Gamba, 2010. "Some Important Issues Involving Real Options: An Overview," Multinational Finance Journal, Multinational Finance Journal, vol. 14(1-2), pages 73-123, March-Jun.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Kryukov, V. A. & Sevastyanova, A. Ye. & Tokarev, A. N. & Shmat , V. V., 2016. "A rationale for some directions of the development of resource territories: the complex ''meso-level'' problem," R-Economy, Ural Federal University, Graduate School of Economics and Management, vol. 2(1), pages 38-50.
    2. Bertrand Laporte & Celine de Quatrebarbes & Yannick Bouterige, 2022. "Tax design and rent sharing in mining sector: Evidence from African gold‐producing countries," Journal of International Development, John Wiley & Sons, Ltd., vol. 34(6), pages 1176-1196, August.
    3. Celine de Quatrebarbes & Bertrand Laporte, 2015. "What do we know about the mineral resource rent sharing in Africa?," CERDI Working papers halshs-01146279, HAL.
    4. Dou, Shi-quan & Liu, Jiang-yi & Xiao, Jian-zhong & Pan, Wen, 2020. "Economic feasibility valuing of deep mineral resources based on risk analysis: Songtao manganese ore - China case study," Resources Policy, Elsevier, vol. 66(C).
    5. Osmundsen, Petter & Emhjellen, Magne & Johnsen, Thore & Kemp, Alexander & Riis, Christian, 2014. "Petroleum taxation and investment behaviour," UiS Working Papers in Economics and Finance 2014/17, University of Stavanger.
    6. Guy Dabi Gab-Leyba & Bertrand Laporte, 2015. "Oil Contracts, Progressive Taxation and Government Take in the Context of Uncertainty in Crude Oil Prices: The Case of Chad," Working Papers halshs-01217417, HAL.
    7. Espinoza, R. David & Rojo, Javier, 2017. "Towards sustainable mining (Part I): Valuing investment opportunities in the mining sector," Resources Policy, Elsevier, vol. 52(C), pages 7-18.
    8. Laporte, Bertrand & de Quatrebarbes, Céline, 2015. "What do we know about the sharing of mineral resource rent in Africa?," Resources Policy, Elsevier, vol. 46(P2), pages 239-249.
    9. Tatiana Ponomarenko & Eugene Marin & Sergey Galevskiy, 2022. "Economic Evaluation of Oil and Gas Projects: Justification of Engineering Solutions in the Implementation of Field Development Projects," Energies, MDPI, vol. 15(9), pages 1-22, April.
    10. Ethier, Robert G., 1999. "Valuing Electricity Assets In Deregulated Markets: A Real Options Model With Mean Reversion And Jumps," Working Papers 7222, Cornell University, Department of Applied Economics and Management.
    11. Emhjellen, Magne & Alaouze, Chris M., 2003. "A comparison of discounted cashflow and modern asset pricing methods--project selection and policy implications," Energy Policy, Elsevier, vol. 31(12), pages 1213-1220, September.
    12. Petter Osmundsen, Magne Emhjellen, Thore Johnsen, Alexander Kemp and Christian Riis, 2015. "Petroleum Taxation Contingent on Counter-Factual Investment Behaviour," The Energy Journal, International Association for Energy Economics, vol. 0(Adelman S).
    13. Emhjellen, Magne & Osmundsen, Petter, 2009. "Separate Cash Flow Evaluations - Applications to Investment Decisions and Tax Design," UiS Working Papers in Economics and Finance 2009/16, University of Stavanger.
    14. Regnier, Eva, 2007. "Oil and energy price volatility," Energy Economics, Elsevier, vol. 29(3), pages 405-427, May.
    15. Marcel Philipp Müller & Sebastian Stöckl & Steffen Zimmermann & Bernd Heinrich, 2016. "Decision Support for IT Investment Projects," Business & Information Systems Engineering: The International Journal of WIRTSCHAFTSINFORMATIK, Springer;Gesellschaft für Informatik e.V. (GI), vol. 58(6), pages 381-396, December.
    16. Valentina Zozulya & Olga Romanchenko & Andrey Zuykov & Inga Zozulya, 2017. "The Features of Management of Innovation Risks at Pre-investment Stage of the Project in Modern Economic Realities," International Review of Management and Marketing, Econjournals, vol. 7(2), pages 43-48.
    17. G. Korovin B. & Г. Коровин Б., 2016. "Институализация мультисубъектной промышленной политики в регионах России // Institutionalization of the Multi-Agent Industrial Policy in Russian Regions," Экономика. Налоги. Право // Economics, taxes & law, ФГОБУ "Финансовый университет при Правительстве Российской Федерации" // Financial University under The Government of Russian Federation, vol. 9(5), pages 113-121.
    18. Alexander, Carol & Chen, Xi & Ward, Charles, 2021. "Risk-adjusted valuation for real option decisions," Journal of Economic Behavior & Organization, Elsevier, vol. 191(C), pages 1046-1064.
    19. Dahlgren, Eric & Leung, Tim, 2015. "An optimal multiple stopping approach to infrastructure investment decisions," Journal of Economic Dynamics and Control, Elsevier, vol. 53(C), pages 251-267.
    20. Schachter, J.A. & Mancarella, P., 2016. "A critical review of Real Options thinking for valuing investment flexibility in Smart Grids and low carbon energy systems," Renewable and Sustainable Energy Reviews, Elsevier, vol. 56(C), pages 261-271.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ura:ecregj:v:1:y:2015:i:4:p:260-274. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Alexey Naydenov (email available below). General contact details of provider: http://www.economyofregion.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.