The Financial and Economic Aspects of Transport Infrastructure Development in Latvia

This paper is devoted to topical issues in the development of transport infrastructure as a key component of the transport system of Latvia. The level of development of transport infrastructure is measured by specific economic indicators, which in their turn depend on the volume and efficiency of acquisition of sources of funding. The paper sheds light on the economic indicators of the development of the transport infrastructure in Latvia and issues of funding of this sector. The data contained in this paper reveals the size and directions of public investment in the transport infrastructure development. The paper focuses on the necessity to create the effective investment mechanism for financing the transport infrastructure of Latvia as a useful instrument in making investment decisions. Based on the theory of decision making the authors developed Investment Decision-Making Concept, which can be used when selecting investment projects in the field of transport infrastructure and their evaluation. This paper is based on the litera ture review of previously published papers of these authors. The authors refine their conceptual approach for developing an investment decision making mechanism, proposed in earlier papers, and offer recommendations aimed at policy-makers, professionals, academics and those with a broad interest in the field