scholarly journals Public-Private Partnerships: Does Russian Practice Follow International Experience?

2019 ◽  
Vol 13 (2) ◽  
pp. 104-113
Author(s):  
Elizaveta Markovskaya ◽  
Victoria Holodkova ◽  
Dmitry Radushinsky
Keyword(s):  
Complex Structure ◽  
Legal Framework ◽  
Public Private Partnership ◽  
Point Of View ◽  
Economic Effects ◽  
Business Partnerships ◽  
Financial Model ◽  
Commercial Development ◽  
Private Partnership ◽  
Evaluation Algorithm

Business partnerships between state agencies and private sector entities represent one of the most common forms ofinteraction between government and the business sector. Moreover, these public-private partnership (PPP) projects canbe a major and effective catalyst for significant social and commercial development in the public sphere.This article is devoted to an analysis of recent changes in the legislative base concerning PPP in the Russian Federation.We intend to identify pragmatic approaches toward assessing the economic effects of PPP involvement for potentialstakeholders, as well as constructing models of financial frameworks for mapping the PPP project implementation. Thisarticle presents the result of testing the financial model that we propose. The ultimate intention is that this model can beused in the preparation of concession agreements and negotiation in the preparation of PPP projects.To achieve this, we analyze the legal framework and development trends of public-private partnership projects,both theoretically and practically. We consider and evaluate PPP from the point of view of 3 aspects: organizational,methodological and managerial. To achieve this, we must identify the interests of the various stakeholders who aredirectly or indirectly interested in the practical results of the project in both a material and a sociopolitical sense.For each of the stakeholders, we identify areas for them to evaluate in the process of analyzing potential PPP projects.This includes the potential quantitative and qualitative results of a project that can be identified and, as a rule, measured,which allows for a standard approach to political and commercial evaluation. As a result, we present an algorithm forbuilding a financial model which accounts for material and seemingly immaterial variablesIt is suggested that this approach to building a financial model and evaluating the effects of PPP projects provides auniquely useful perspective on the field. We utilize the most modern methods for assessing risks, benefits and effects forvarious stakeholders of projects implemented in the form of PPP, and as a result this paper provides ample opportunityfor further development of research. The presentation of the evaluation algorithm for PPP stakeholders takes intoaccount the complex structure of the partnership participants and will be useful for academic, commercial, andadministrative parties.

scholarly journals Public-private partnerships: approaches to assessing economic effects for stakeholders

2018 ◽  
Vol 170 ◽  
pp. 01047 ◽  
Author(s):  
Elisaveta Markovskaya ◽  
Viktoria Holodkova ◽  
Dmitry Radushinsky ◽  
Oksana Feoktistova ◽  
Anzhelika Borisova
Keyword(s):  
Public Private Partnership ◽  
The State ◽  
Economic Effects ◽  
Public Private Partnerships ◽  
Property Management ◽  
Fair Price ◽  
State Budget ◽  
Financial Model ◽  
Private Partnership ◽  
Legal Foundations

The article is devoted to the development of such a form of state property management as a public-private partnership. Public-private partnership is one of the most widespread format of interaction between the state and business. The article analyzes the legal foundations and trends in the development of this form of interaction. Modern methods for assessing risks, benefits and effects for different stakeholders of projects implemented in the form of PPPs are considered. The authors propose their approach to building a financial model and assessing the effects of PPP projects. Taking into account risks, the fair price of participation in the PPP project for both parties is estimated. The proposed financial model can be used to calculate the concession fee in tariff-regulated projects where the state is supposed to participate, usually with the subsequent transfer of the ownership for the created object to the state. The results of the work can be used by departmental and regional centers of public-private partnerships, by specialists of private investor companies and tariff regulation bodies when formulating the financial and economic justification for public-private partnership projects, justifying its preference in comparison with other forms of state budget investments.

Liberties and Litigation

2006 ◽  
Author(s):  
James E. Shaw
Keyword(s):  
Early Modern ◽  
Functional Role ◽  
Regulatory System ◽  
Public Private Partnership ◽  
Point Of View ◽  
Public Officials ◽  
Private Partnership ◽  
Market Rules ◽  
The Government

The guilds were essential allies in the operation of the regulatory system, which can be considered an early-modern example of a public/private partnership. Not only were the guilds the chief ‘customers’ of the court, providing much of the funding for public officials, they also had the authority to enforce market rules in their own sector. The price paid for their cooperation was the confirmation of their privileges and the division of the economy into separate sectors. This chapter emphasizes the functional role of guild litigation as opposed to the rhetoric that has surrounded it. From the point of view of a ‘command economy’, guild litigation served no useful purpose. The government considered it to be a waste of money, ‘petty disputes’ of no real significance.

scholarly journals FEASIBILITY STUDY OF PUBLIC-PRIVATE PARTNERSHIP / VIEŠOJO IR PRIVAČIOJO SEKTORIŲ PARTNERYSTĖS GALIMYBIŲ ANALIZĖ

2011 ◽  
Vol 15 (3) ◽  
pp. 257-274 ◽  
Author(s):  
Ieva Meidutė ◽  
Narimantas Kazimieras Paliulis
Keyword(s):  
Dispute Settlement ◽  
Public Procurement ◽  
Legal Framework ◽  
Public Private Partnership ◽  
Public Infrastructure ◽  
Public And Private ◽  
Private Partnership ◽  
The Public ◽  
Private And Public ◽  
Dispute Settlement Procedure

Public-private partnership may cover various forms of partnership, viz. as the property of the private sector in the state of municipal activities or information and consultations between the public and private sectors, also as an unconventional method of public procurement when the public and private sectors enter into a long-term contract on the establishment of public infrastructure or the provision of public services. The most important thing in implementing PPP projects is to properly draw up the contract between the public and private partners, which should explicitly state all terms and conditions, undertakings and liabilities, evaluate risks, determine the payment mechanism and dispute settlement procedure, etc. In order to reduce any risk associated with such projects, a proper legal framework should be developed, which would provide liabilities and undertakings of both parties of the project (the private and public sectors), and more information should be disbursed as to how such projects are being implemented, what the structures of financing are, and what the benefit of such projects is. Santrauka Viešojo ir privačiojo sektorių partnerystė gali apimti įvairias partnerystės formas: kaip privačiojo sektoriaus nuosavybė valstybės ar savivaldybių veikloje ar informavimas ir konsultavimas tarp viešojo ir privačiojo sektorių, taip pat kaip netradicinis viešujų pirkimų būdas, kai sudaroma ilgalaikė sutartis tarp viešojo ir privačiojo sektorių dėl viešosios infrastruktūros sukūrimo ar viešųjų paslaugų teikimo. Vykdant VPP projektus būtina tinkamai parengti sutartį tarp viešojo ir privataus partnerio, kurioje turi būti vienareikšmiškai apibrėžtos visos sąlygos, įsipareigojimai, atsakomybė, įvertintos rizikos, atsiskaitymo mechanizmas, konfliktų sprendimo tvarka ir t. t. Siekiant sumažinti bet kokią su tokiais projektais susijusią riziką, reikia suformuoti tinkamą teisinę bazę, kuri numatytų abiejų projekto šalių - tiek privačiojo, tiek valstybinio sektoriaus - atsakomybes ir įsipareigojimus, bei teikti daugiau informacijos, kaip tokie projektai vykdomi, kokios finansavimo struktūros, kokia gaunama nauda.

scholarly journals Public-Private Partnership in BRICS Countries: Experience and Prospects of Implementation

2015 ◽  
pp. 190-197
Author(s):  
T. S. Cheremnaya
Keyword(s):  
Legal Framework ◽  
Public Private Partnership ◽  
Practical Significance ◽  
General Strategy ◽  
Private Partnership ◽  
Global Trends ◽  
Strategy Of Development ◽  
Brics Countries ◽  
Key Sectors ◽  
Using Data

Abstract: In the article the questions of application of public-private partnership (PPP) for the implementation of projects in infrastructure in the BRICS countries (BRICS). The analysis is carried out on the basis of a comparison of the legal framework in the field of public-private partnership and concession legislation, as well as the experience gained in the implementation of projects. Using data from open sources, materials of the meetings of the authorities and business on the issues of implementation of publicprivate partnerships, statements of responsible persons developed a comparative table that identified and summarized trends in the development of public-private partnership in the BRICS countries. Examines global trends in the sphere of use of PPP mechanisms in the five countries, as well as key sectors in which PPP projects. Identified current problems in the implementation of projects in the preparatory phase and in case of change of technical and financial parameters of the project. The practical significance of the results of this study is the feasibility of extending public-private partnership in the implementation of joint projects in the BRICS countries. The results of the study can be used in the formation of the General strategy of development of infrastructure of BRICS countries on how in-country and inter-state levels.

Evolution of Business-Government Interaction Models

2020 ◽  
pp. 17-35
Author(s):  
Sofiya Zhaleleva ◽  
Raziya Zhaleleva ◽  
Alexandr Pasternak
Keyword(s):  
Institutional Economics ◽  
Integrated Approach ◽  
Public Private Partnership ◽  
Point Of View ◽  
Private Partnership ◽  
System A ◽  
Scientific Organizations ◽  
National Economic ◽  
The Republic ◽  
Business Entities

In this article public-private partnership issues are considered. The purpose is to offer a partnership trio model for the Republic of Kazakhstan. This is possible taking into account international experience, as well as by exploring the possibilities of partnership among government agencies, business entities and scientific organizations within the national economic system. A model of forming a trio partnership, which is one of the most developed forms of public-private partnership, has been proposed. This is important from the point of view of the development of the state as a whole. The article also discusses the forms of contribution of each of the participants of the partnership to achieve the goal of improving efficiency. The research methodology is based on the developments of scientists in the field of partnership between science and business, institutional economics, the use of an integrated approach and the principles of dialectics to identify the essential characteristics of partnerships, as well as the conditions for their successful application in the national economy.

scholarly journals Fuzzy Synthetic Evaluation of the Critical Success Factors for the Sustainability of Public Private Partnership Projects in China

2021 ◽  
Vol 13 (5) ◽  
pp. 2551
Author(s):  
Binchao Deng ◽  
Dongjie Zhou ◽  
Jiachen Zhao ◽  
Yilin Yin ◽  
Xiaoyu Li
Keyword(s):  
Policy Development ◽  
Critical Success Factors ◽  
Success Factors ◽  
Legal Framework ◽  
Public Private Partnership ◽  
Fuzzy Synthetic Evaluation ◽  
Private Partnership ◽  
Stakeholder Relationships ◽  
Critical Success ◽  
Synthetic Evaluation

Public Private Partnership (PPP) projects have attracted wide attention from academia and industry over the past 20 years, however, they have been plagued by certain factors. This study identified, classified, and evaluated the success factors that may affect PPP projects for achieving sustainability. First, a list of 32 critical success factors were categorized into 3 groups, then a questionnaire survey was conducted, with 108 responses received from experts, researchers, and PPP project managers in China. Second, using a fuzzy synthetic evaluation (FSE) method, stakeholder relationships (A1–A10), external environmental (B1–B8), and project management of a special purpose vehicle (C1–C14) collected data at three different factor group locations in PPP projects were used in this evaluation. The results obtained nine top factors: private sector financing capacity, government credit, government commitment or guarantee, completeness of legal framework, available financial markets, the feasibility study report and implementation, effectiveness of risk management, project investment, and cost control and revenue distribution. It was demonstrated that fuzzy synthetic evaluation techniques are quite appropriate techniques for PPP projects. The research findings should impact on policy development towards PPP and Private Finance Initiative (PFI) project governance.

scholarly journals Understanding of CSFs in the Application of Public-Private Partnership (PPP) Toll Expressway in Malaysia

2019 ◽  
Vol 9 (1) ◽  
pp. 2082-2087
Keyword(s):  
Success Factors ◽  
Descriptive Analysis ◽  
Legal Framework ◽  
Public Private Partnership ◽  
Private Partnership ◽  
Factors Affecting ◽  
Public Investments ◽  
Innovation Cluster ◽  
Critical Success ◽  
The Government

Expressways are extremely expensive to build and maintain. A major infrastructure project and services involve massive public investments starting from planning, land acquisition, grading, paving and other expenditure. As an alternative, Public Private Partnership (PPP) is a popular tool for the government to cope and meet the increasingly demand by capitalising on private sectors ‘resource and expertise. Given the inherent advantages of PPP model over conventional model, the PPP model was highly favoured and adopted for toll expressway development in Malaysia. Many studies have been made on PPP in the literature but very few have been conducted to investigate factors affecting adoption of PPP toll expressway in Malaysia. Thus, this paper attempts to register all these Critical Success Factors (CSFs) from available journal articles published since 2012. Twenty (20) articles were identified and all the CSFs in them were registered in one list. A two stage exploratory sequential mixed method design was adopted. The first stage was to list all the 161 CSFs that illustrated in the articles and qualitatively analysed them (using thematic analysis) and this resulted in reducing the number to 77. Then these 77 themes of CSFs went through of consolidating exercise into grouping them under the relevant Clusters. Overall, there are nine (9) clusters of criteria of CSFs that can be consolidated as factors affecting on adoption of PPP namely;(1) risks cluster, (2) governmental influence cluster, (3)project viability cluster, (4)organisational cluster, (5)economic and financial cluster, (6)legal framework cluster, (7)technology and innovation cluster, (8) social and environment cluster, and (9) trust cluster. The consolidated nine (9) clusters of CSFs list then went through a final stage of analysis for validation. A set of questionnaire to validate the degree of importance of these nine (9) clusters of factor affecting was prepared and sent to thirty (30) experts in PPP from three (3) main sectors; public, private and academic. The descriptive analysis was done by using Statistical Package for Social Sciences (SPSS) Version 23.0 to differentiate these nine (9) clusters of factor affecting through their mean score. Finally, based on the group mean score value higher than 3.95, three (3) clusters of CSFs were selected as the most factor affecting in adoption of PPP namely; governmental influence, project viability and trust. This list is recommended to be considered in future studies of the influencing factors of involvement private sectors into PPP particularly on expressway projects.

scholarly journals Managing Public – Private Partnership Market in the Times of Economic crisis

2014 ◽  
Vol 5 (2) ◽  
pp. 63-74 ◽  
Author(s):  
Joanna K Krześ-Dobieszewska
Keyword(s):  
Economic Crisis ◽  
Financial Institution ◽  
Public Private Partnership ◽  
Point Of View ◽  
The European Union ◽  
Private Partnership ◽  
The Public ◽  
The Times ◽  
Universal Nature

The article focuses on the issues and problems caused by the economic crisis of 2008 for public-private partnership (PPP). The challenges faced are presented from the point of view of a public entity, a private partner and a financial institution, as well as the relationships between these parties and the influence of economic issues on these relations. The most crucial of these challenges seems to be: the pressure on public finance and growing difficulties in financing the public infrastructural investments, the rise of the economic risk of investments and the necessity of sufficient and appropriate transfer and management of risk, and finally – the lack of interest of financial institutions to finance long-term liabilities. The aim of the author is to provide a precise description and diagnosis of the issues mentioned above, which might improve the strategic management of PPP market as well as management of projects. The article is based on experience, documents and working papers concerning the countries and markets of the European Union but the presented conclusions should be of more universal nature.

scholarly journals FEATURES OF PUBLIC-PRIVATE PARTNERSHIP AS A MECHANISM FOR IMPLEMENTING A NEW REGIONAL POLICY FOR THE FUNCTIONING AND DEVELOPMENT OF THE ROAD SECTOR

2020 ◽  
pp. 73-82
Author(s):  
Inna Oleksandrivna Khomenko ◽  
◽  
Lyudmila Nikolaevna Volynets ◽  
Halyna Olehivna Lysenko ◽  
◽  
...  
Keyword(s):  
Legal Framework ◽  
Public Private Partnership ◽  
Private Partnership ◽  
The Public ◽  
The Road ◽  
Road Management ◽  
Global Pandemic ◽  
Effective Activity ◽  
Main Activity ◽  
The Impact

This article reveals the basic concepts, principles, significance of public-private partnership (PPP), its significance, main provisions and importance for the functioning and development of the road sector in Ukraine. The main advantages of the functioning of the public-private partnership system are also given, the legal framework and the main principles for effective activity are analyzed. Examples of successful global public-private partnership projects in the field of road management, which are the basis for determining the amount of tolls on public roads for vehicles, are outlined. The agreements concluded by administrative institutions on the basis of public-private partnership are described.The main activity of the state road fund, sources of its financing and distribution of funds are investigated. The main debt obligations of the road industry and their further impact on the development of public-private partnership in Ukraine have been identified. The main problems, the reasons for the inefficiency of public-private partnership in thefield of road management are clarified and effective ways of development and solution of complex issues are suggested. The analysis of the main factors influencing the development of public-private partnership of Ukraine is carried out and the ways of elimination of negative factors are given. The principles of operation and essence of the first six pilot transport projects of Ukraine and further increase of their number, which were developed taking into account world standards on the basis of requirementsof both parties, are considered. The impact of the global pandemic on the traffic of different countries is revealed. There are examples of companies that were able to resume their activities and increase the economic rating during the easing of quarantine restrictions. The main ways to improve the functioning of the road industry of Ukraine are proposed.

scholarly journals Public-Private Partnership In The Republic Of Uzbekistan: Foreign Theory And Problems Of Defining The Regulatory Sector

2021 ◽  
Vol 03 (04) ◽  
pp. 10-15
Author(s):  
Bakhtiyor Kayumov ◽  
Keyword(s):  
International Organizations ◽  
Civil Law ◽  
Administrative Law ◽  
Public Private Partnership ◽  
Point Of View ◽  
Private Partnership ◽  
International Theory ◽  
The Republic ◽  
Relationship Of ◽  
The Relationship

In this article, the author examines the problems of defining public-private partnership (PPP) from the point of view of the international theory and the experience of the Republic of Uzbekistan in this area. The views of foreign theorists, relevant international organizations, and scientists of the Republic of Uzbekistan regarding the term PPP are studied in detail. The author analyzes the relationship of PPP with the civil law contract and administrative law and concludes that the PPP agreement is classified as an unnamed contract in the Civil Code of the Republic of Uzbekistan. In conclusion, the author gives a proposal for improving the legislation of the Republic of Uzbekistan in the field of PPP.

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