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Перспективы инвестирования в инфраструктуру в период глобальных преобразований // Prospects for infrastructure investments in the period of global transformations

Author

Listed:
  • Бармамбекова С.А. // Barmambekova S.А.

    (National Investment Corporation of the National Bank of Kazakhstan)

  • Асильбекова А.А. // Assilbekova А.А.

    (National Investment Corporation of the National Bank of Kazakhstan)

  • Садуакасов Б.Р. // Saduakassov B.R.

    (National Investment Corporation of the National Bank of Kazakhstan)

  • Турсинбаева Г.Г. // Tursinbayeva G.G.

    (National Investment Corporation of the National Bank of Kazakhstan)

Abstract
В условиях высокой инфляции всё больше институциональных инвесторов проявляют интерес к частной инфраструктуре. Высокий спрос на данный класс активов усилит конкуренцию за проекты с низким риском и высокой доходностью. Кроме предпосылок текущей привлекательности, в статье рассмотрены инвестиционные свойства и приведена динамика развития рынка частной инфраструктуры, в том числе активы под управлением, объемы привлеченного капитала и сделок, а также показатели эффективности в разрезе стратегий и регионов. Несмотря на общепринятое мнение, что инфраструктура защищает от инфляции, не все инфраструктурные активы демонстрируют инфляционное хеджирование. Поэтому при инвестировании активы должны быть изучены на предмет инфляционной защиты на уровне проекта, отрасли и страны в части регулирования аспектов индексации. В работе также обсуждаются перспективные направления инвестирования в разрезе стратегий и регионов. В заключительной части приведен обзор основных игроков рынка частной инфраструктуры. // In the environment of high inflation, more and more institutional investors are showing interest in private infrastructure. Strong demand for this class of assets will intensify competition for low-risk, high-yield projects. In addition to the prerequisites for existing attractiveness, the paper discusses investment properties and shows the dynamics of development of the private infrastructure market, including assets under management, the volume of capital raised and deals, as well as performance indicators in the context of strategies and regions. Despite the conventional wisdom that infrastructure protects against inflation, not all infrastructure assets exhibit inflation hedging. Therefore, when investing, assets should be examined for inflation protection at the project, industry and country levels in terms of regulation of indexation aspects. The paper also discusses promising areas of investment in the context of strategies and regions. The final part provides an overview of the main players in the private infrastructure market.

Suggested Citation

  • Бармамбекова С.А. // Barmambekova S.А. & Асильбекова А.А. // Assilbekova А.А. & Садуакасов Б.Р. // Saduakassov B.R. & Турсинбаева Г.Г. // Tursinbayeva G.G., 2022. "Перспективы инвестирования в инфраструктуру в период глобальных преобразований // Prospects for infrastructure investments in the period of global transformations," Economic Review(National Bank of Kazakhstan), National Bank of Kazakhstan, issue 2, pages 22-38.
    • Handle: RePEc:aob:journl:y:2022:i:2:p:22-38
    as

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    References listed on IDEAS

    as
    1. Buiter, Willem H., 2009. "Negative nominal interest rates: Three ways to overcome the zero lower bound," The North American Journal of Economics and Finance, Elsevier, vol. 20(3), pages 213-238, December.
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    3. Kenneth S. Rogoff, 2016. "The Curse of Cash," Economics Books, Princeton University Press, edition 1, number 10798.
    4. Jobst, Clemens & Stix, Helmut, 2017. "Doomed to Disappear? The Surprising Return of Cash Across Time and Across Countries," CEPR Discussion Papers 12327, C.E.P.R. Discussion Papers.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    private infrastructure market; asset class strategies; assets under management; inflation hedging; service-producing industries; promising areas; рынок частной инфраструктуры; стратегии класса активов; активы под управлением; инфляционное хеджирование; отрасли инфраструктуры; перспективные направления;
    All these keywords.

    JEL classification:

    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors

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