scholarly journals Contingent liabilities of public-private partnerships (PPPS) in Russia and BRICS countries: assessment and risk mitigation mechanisms

2021 ◽  
Vol 16 (4) ◽  
pp. 145-170
Author(s):  
Natalia Krasnopeeva ◽  
Keyword(s):  
South Africa ◽  
Quantitative Assessment ◽  
Risk Mitigation ◽  
Public Private Partnerships ◽  
Financial Indicators ◽  
Private Partnership ◽  
Federal Level ◽  
Contingent Liabilities ◽  
Brics Countries ◽  
Technical Framework

This article is devoted to the assessment of the conditional liabilities of public-private partnerships (PPPs) and measures to reduce the risks associated with them. First, a quantitative assessment of the contingent liabilities of PPP projects at the federal level is carried out. Contingent liabilities for public-private partnership projects are estimated to amount to 2.3 trillion roubles for the period 2021–52. Second, the experience of creating a system for managing the contingent liabilities of PPPs in Russia and the BRICS countries (Brazil, Russia, India, China and South Africa) is summarized. This analysis shows that each of the BRICS countries has a legislative and technical framework for managing fiscal liabilities, but does not use it to the fullest extent. Consequently, to improve functioning it is necessary to regularly update, fill in, and expand the number of available financial indicators for PPP projects. Of the BRICS countries, South Africa is characterized by the most complete and transparent system for managing PPP-related contingent liabilities, but Russia could use some of the measures implemented in other BRICS countries to improve its own system, including the creation of a guarantee fund (Brazil), a system for operational project evaluation (India) and the practice of project approval by the fiscal authority (China).

scholarly journals Hidden benefits of public private partnerships: the case of water pressure management in Sebokeng

2007 ◽  
Vol 3 (2) ◽  
Author(s):  
R. S. Mckenzie ◽  
W. Wegelin ◽  
P. Mohajaneand ◽  
S. Shabalala
Keyword(s):  
South Africa ◽  
Service Delivery ◽  
Low Income ◽  
Distribution Systems ◽  
Public Private Partnership ◽  
Public Private Partnerships ◽  
Small Scale ◽  
General View ◽  
Pressure Management ◽  
Private Partnership

Many water distribution systems in South Africa are deteriorating due to many years of neglect resulting in a serious maintenance backlog. Recent government legislation has introduced free basic water to all South Africans up to a limit of 6 Kl/month per property which in turn causes certain confusion regarding payment among many residents. These key issues and others have led to serious problems with service delivery specifically in the low income areas where the maintenance has been neglected for more than 30 years in some cases. The potential for support from the Private Sector has beenhighlighted at the highest levels within government as a possible solution to addressing the existing backlogs despite the fact that there are relatively few successful projects to support this view.This paper presents the results after 30 months of operation of a small scale public private partnership in one of the largest low income areas in South Africa where the Sebokeng/Evaton Pressure Management Project was commissioned in July 2005. The savings both in terms of volume of water saved as well as financial savings to the municipality are impressive and exceed all initial expectations. The most interestinga1spect of the project, however, is not the savings achieved from the installation, but the numerous other additional benefits that have materialised which were not originally anticipated when the project was commissioned. Such benefits, include the identification of many network problems that had been undetected for more than 9 years as well the sudden interest in helping the residents by several government and semi-government organisations. These organisations were unable or unwilling to provide any support to the area prior to the successful Public Private Partnership. The project represents a significant advancement in Public-Private Partnerships (PPP’s)and clearly demonstrates that small scale Public Private Partnerships can be viable despite the general view that this type of project is confined to large scale initiatives due to the effort and expense in developing the PPP type of contract. The paper provides details of the processes involved in setting up and implementing such a project and highlights that the model used by the Project Team to address leakage in Sebokeng and Evaton can be adapted for use in other areas and other applications to improve service delivery throughout South Africa as well as elsewhere in the world where conditionspermit. The paper presents the results from the project after the first 30 months of operation and summarises some of the many additional benefits that have arisen from the project.

THE МEANING OF PUBLIC-PRIVATE PARTNERSHIP FOR DEVELOPMENT OF LOCAL SELF-GOVERNMENT

2018 ◽  
Vol 28 (1) ◽  
pp. 351-356
Author(s):  
Sandra Risteska
Keyword(s):  
European Union ◽  
Economic Development ◽  
Rapid Development ◽  
Public Private Partnership ◽  
Public Private Partnerships ◽  
Successful Implementation ◽  
Economic Policies ◽  
The European Union ◽  
Private Partnership ◽  
Public And Private Sector

Each country strives for growing economic development, but no country is able to implement it. Various experiences and projects from the countries of the European Union and other neighboring countries are taken and considered. Towards the end of the 20th century and at the beginning of the 21st century, economic movements are increasingly relying on public-private partnerships, which can lead to a rapid development process through the financing of infrastructure projects. Economic globalization, as well as the emergence of new opportunities for economic activity in the world, are aimed at cooperation of the authorities and businesses in the realization of the socio-economic policies. The implementation and realization of development projects through public-private partnerships is impossible without participation by the relevant institutions of the public and private sector. Above all, direct participation implies expertise, experience and education. Every project that will be realized through various forms of public-private partnership must fulfill certain conditions. Among the conditions for proper implementation of the project are: dialogue, transparency and monitoring. The main feature of PPP is the transfer of the risk to the financing, efficiency and quality of public services, which are usually the burden of the private partner. This paper analyzes and explores the essence of public-private partnership. The conceptual framework for public-private partnership, as well as its strengths and weaknesses, is set. With the application of PPP, the economic development of the infrastructure as a whole, and in particular the development of local infrastructure, is analyzed. The origin of PPPs, its characteristics, as well as the need and importance for their continuous implementation are explained. The application of PPP is considered through the experiences in certain countries of the European Union and the Republic of Macedonia. Then, the responses to previously hypothesized hypotheses are collected: what is the successful implementation of PPP, what is needed for PPPs and why. In the end, the data from the conducted research are collected, analyzed and determined the profile of certain activities, as well as the possible decisions for further strategies for the implementation of the PPPs.

Remedies in BRICS Countries

2018 ◽  
Author(s):  
Svetlana Avdasheva ◽  
Tatiana Radchenko
Keyword(s):  
South Africa ◽  
Division Of Labor ◽  
Market Performance ◽  
International Division ◽  
Negative Effects ◽  
Positive Effects ◽  
Managerial Decisions ◽  
Brics Countries ◽  
Target Company ◽  
Specific Position

Within the group of BRICS, China, Russia, and South Africa use conduct remedies more often than developed jurisdictions. Remedies are applied under merger approval or as an outcome of investigation of anticompetitive conducts. Effects of conduct remedies on companies’ decisions and market performance still need explanation. This chapter explains the use of conduct remedies, with special emphasis on Russia, by the specific position of BRICS in international division of labor, which allows the large companies, and first of all domestic ones, to discriminate customers in BRICS home markets, vis-à-vis international customers. Together with positive effects on domestic customers, competition economics predicts the possibility of negative effects of remedies on the managerial decisions within the target company. Under some circumstances, remedies may even weaken competition in the global product markets.

scholarly journals The Integration of Conventional Equity Indices with Environmental, Social, and Governance Indices: Evidence from Emerging Economies

2021 ◽  
Vol 13 (2) ◽  
pp. 676
Author(s):  
Ramiz ur Rehman ◽  
Muhammad Zain ul Abidin ◽  
Rizwan Ali ◽  
Safwan Mohd Nor ◽  
Muhammad Akram Naseem ◽  
...  
Keyword(s):  
South Africa ◽  
Function Analysis ◽  
Impulse Response Function ◽  
Decomposition Analysis ◽  
Individual Country ◽  
Brics Countries ◽  
Long Run ◽  
Integration Test ◽  
Short Run ◽  
Equity Indices

This study investigates the integration of environmental, social, and governance (ESG) equity indices with conventional indices in Brazil, Russia, India, China, and South Africa (BRICS) individually and across all BRICS countries to better understand regional economic cooperation. Accordingly, we look at daily returns from 13 July 2013 to 28 February 2018 for the Morgan Stanley Capital International (MSCI) ESG indices and MSCI composite indices of the respective countries. To analyze the integration between the ESG equity indices of the sampled countries with their regional and across regional conventional counterparts, the Johansen Co-integration test is employed in this study. Further, the vector error correction model (VECM) is applied to test the causality between the sampled time-series. The impulse response function analysis further explains the impulse responses of each country’s MSCI ESG returns to one standard deviation of innovations to MSCI composite returns of the same country and across countries. Finally, the extent of the MSCI composite returns’ impact on the MSCI ESG returns in the same country indices, and cross-regional indices is examined with variance decomposition analysis. The results suggest that all ESG equity indices are integrated with conventional indices in all BRICS countries. Furthermore, there is a short-or long-run causality between MSCI ESG and MSCI composite equity indices of China and South Africa. Moreover, the study finds only short-run causality between conventional and non-conventional equity indices of Brazil and Russia, whereas we find only long-run causality between India’s non-conventional and conventional equity indices. Finally, the study finds that the all-individual country MSCI ESG equity indices shows a long-run causality with MSCI composite equity indices of all other BRICS countries. The findings also confirm the economic and financial cooperation between the BRICS countries.

Méthodologie d’analyse conceptuelle appliquée: Comment définir le concept de ‘partenariat public–privé’ dans une perspective juridique et transdisciplinaire?

2012 ◽  
Vol 51 (2) ◽  
pp. 280-300 ◽  
Author(s):  
Julie McCann ◽  
Martin Thiboutot
Keyword(s):  
Conceptual Analysis ◽  
Public Services ◽  
Public Private Partnership ◽  
Public Private Partnerships ◽  
Analysis Framework ◽  
Private Partnership ◽  
Legal Concepts

The increasing use of public–private partnerships (PPP) as a means of delivering public services or constructing public infrastructures draws growing interest in the legal community. The ambiguity and lack of consensus surrounding the content of PPP as a concept, leads the researcher to refer to various disciplinary sources. Widely encouraged in law, transdisciplinarity often suffers methodological insufficiencies when comes the time to define transdisciplinary concepts. The authors revisit the interpretation methods developed by the courts, and propose a complementary conceptual analysis framework. The developed framework is then applied to the emerging concept of public–private partnership, as it is used and defined in various disciplines. The paper demonstrates the feasibility and desirability to provide a transdisciplinary perspective to legal concepts.

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