Development of Social Investment in Regional Indicative Planning: Possibilities of “Social Bonds” in Public-Private Partnership
Today, the state alone can not provide the necessary level of socio-economic development, which makes it necessary to look for new economic and institutional tools to address the problem of "failures" of the market. In the areas of public interest, the consolidation of the public and private sectors in the form of the social responsibility of business, the tool for which is public-private partnership, contributes to the solution of this task. As a way of overcoming the budget deficit, currently developed and developing countries of the world are considering a new form of public-private partnership – social bonds. While this social investment tool is attractive to government agencies, it also resonates with investors who want to channel part of their assets to the public good. In this connection, the study of the essence, mechanisms of functioning and development of new instruments of social investment - social bonds - becomes relevant. The authors show the essence, current state, problems and prospects for the development of social bonds as forms of public-private partnership in developed and developing countries.