scholarly journals LEGAL FORMS OF ATTRACTING AND PROMOTING INVESTMENT

2020 ◽  
pp. 90-97
Author(s):  
G. D. Otnyukova
Keyword(s):  
Capital Investment ◽  
Investment Project ◽  
Private Investment ◽  
The State ◽  
Legal Entity ◽  
Investment Projects ◽  
The Public ◽  
Investment Protection ◽  
The Difference ◽  
Legal Forms

The article deals with new legal forms of attracting private investment to the nation’s economy carried out by the state — special investment contracts and agreements on attracting and promoting investment. The author concludes that these agreements are organizational ones, and they are aimed at organizing the implementation of investment projects with the support of the state. The assignment of a special investment contract to a civil law contract is denied. The article analyzes the grounds for extending civil legislation to an agreement on the protection and promotion of capital investment. Investment protection and promotion agreement is characterized as multilateral. Each of the public legal entities is an independent party providing the investor with support measures provided for by legislation and municipal legal acts. The article shows the difference between the investor and the investor-organizer of the investment project. An investor-organizer is only a legal entity, but a Russian legal entity. The advantages of a project company acting as an organizer of the implementation of an investment project are shown.

scholarly journals Improving the Mechanisms of Public-Private Partnership

2021 ◽  
Vol 12 (2) ◽  
pp. 242
Author(s):  
Aliya Zyalilevna Minnibaeva ◽  
Irina Yurievna Vaslavskaya ◽  
Irina Alexandrovna Koshkina ◽  
Artur Faridovich Ziyatdinov
Keyword(s):  
Large Scale ◽  
Structural Changes ◽  
Public Private Partnership ◽  
State Regulation ◽  
The State ◽  
Public Authorities ◽  
Private Partnership ◽  
Investment Projects ◽  
The Public ◽  
Activity State

Development of the Russian economy causes the growth of public requirements and structural changes connected with it directed to an increase in the efficiency of social and economic tasks solution. Need of partnership of the state and private business development for the solution of problems in the social and economic sphere predetermines by the insufficiency of opportunities of the public (budgetary) financing of investment projects, large-scale and significant for society. The public-private partnership (PPP) acts as one of the modern economic mechanisms allowing realizing the interaction of the state and business. The PPP, on the one side, represents a special form of influence of state authorities and management for the purpose of stimulation of business activity, and with another, acts as the economic mechanism of the solution of social and economic tasks. The article is devoted to the consideration of the public-private partnership mechanism as one of the most modern methods of economic activity state regulation which basis the basic coordination principle of the parties interests and allowing to combine interests and technologies of business. Need and the prospects of further development of mechanisms of state-private partnership on the basis of the state strategic planning are proved. Special attention is paid to the interrelation of development of public-private partnership and need of theoretical scientific research in the field of improvement of institutional, ensuring its realization. It is shown that the role of the mechanism of public-private partnership in the economy is defined, first of all, by its elements as subjects and objects of public-private partnership, priority spheres of realization. Authors allocate and describe a number of aspects of the mechanism of functioning of public-private partnership, namely: organizational and legal, financial and investment, technical and organizational, regional. In the article, the main problems connected with the development of the mechanism of PPP, including with lack of the description of concrete mechanisms of use of the majority of forms of PPP and lack of regulation of questions of division of powers between public authorities and business are allocated and proved.

scholarly journals State support of JSC “Russian railways”

2021 ◽  
Vol 112 ◽  
pp. 00045
Author(s):  
Olga I. Krushinskaia ◽  
Natalia V. Manchenko ◽  
Daria A. Dinets ◽  
Dmitriy S. Artemev
Keyword(s):  
Private Investment ◽  
The State ◽  
State Support ◽  
State Budget ◽  
Investment Projects ◽  
Net Profit ◽  
National Welfare ◽  
The Cost ◽  
Regional Budgets ◽  
Welfare Fund

The main sources of funds for railway investment projects in Russia are still state and regional budgets, funds from the National Welfare Fund, the net profit of Russian Railways, and pension savings from the Pension Fund of Russia. The reform of the system of the Ministry of Railways and the creation of JSC “Russian Railways”, which began in 2016, has not yet released the state budget from financing its needs, and there has been no active use of private investment. Moreover, the monopoly began to seek to shift the financing of not only the modernization and construction of tracks, but even the maintenance of existing infra-structure on the shoulders of the state and shippers. From year to year, there is an increase in the total amount of state support for Russian Railways. Part of the received state support funds in the period under review is spent inefficiently by JSC “Russian Railways”. The remaining budget funds that are not used by JSC “Russian Railways” additionally burden the economy, increasing inflation by various surcharges to tariffs, but the available budget funds are not selected in full, and billions of fines are paid for this. There are low rates of implementation of individual investment projects, overestimation of expenses for the purchase of equipment, an increase in the cost of construction, the cost of contracts for a number of objects exceeds the cost determined by state expertise, etc.

scholarly journals The State as Employer and the Civil Service

2014 ◽  
Vol 18 (3) ◽  
pp. 318-333
Author(s):  
S.J. Frankel
Keyword(s):  
Public Service ◽  
Civil Service ◽  
The State ◽  
Employee Relations ◽  
The Public ◽  
The Difference

Summary In this paper, the author deals with the civil service rather than the public service. The two terms are not mutually exclusive, nor is the difference between them always clear. But a distinction can and should be made from the standpoint of employer-employee relations.

scholarly journals The Method of Public Finance Theory and Its Alternatives

2020 ◽  
Vol 4 (46) ◽  
pp. 305-311
Author(s):  
A. Y. Derlytsia ◽  
Keyword(s):  
Public Finance ◽  
The State ◽  
Basic Unit ◽  
The Public ◽  
Historical Method ◽  
Units Of Analysis ◽  
State Finance ◽  
The Difference ◽  
Finance Theory

The method of the public finance theory is understood as a set of the following components: initial positions and worldviews; specific research methods; and the ways to verify the results. The initial assumptions and worldviews of the Western public finance theory, modern Ukrainian public finance theory and its Soviet predecessor are compared. The difference of approaches within these theories concerning worldview is revealed, namely: their conceptual and philosophical basis (materialism / idealism); traditions of using the historical method; the role of the base and superstructure in financial science; focus on value / utility in studies dealing with the nature of fiscal phenomena; differences in interpreting the basic unit of analysis (individual, group, or class); the organic / mechanistic concepts of state used; explanation of the nature of the interaction between the basic units of analysis; attitude to the positive / normative approach. The methodological orientation of the Western financial thought on methodological individualism; that of the Soviet state finance theory on methodological holism, and the lack of precision in these issues of Ukraine’s modern financial science are mentioned. The author refers to the negative trend in assessing fiscal phenomena in Ukraine from the standpoint of state-centrism and the interests and needs of the state, which arises precisely on the basis of the holistic methodological attitudes and the predominance of the organic view of the state. It is shown that modern domestic financial science is still in transition. Due to its worldview, it is a theory of state finance (financial resources of the state), while the Western science is a theory of public finance (public funds, belonging to the society as a whole). The paper outlines the guidelines for further transforming the methodological foundations of financial science in Ukraine.

Constitutional basis for public property in the context of the creation of a legal entity of public law

2020 ◽  
Vol 29 (5) ◽  
pp. 134-149
Author(s):  
Vladimir Nizov
Keyword(s):  
Property Rights ◽  
Russian Federation ◽  
Historical Analysis ◽  
Public Law ◽  
The State ◽  
The Public ◽  
Public Property ◽  
The Russian Federation ◽  
The Difference ◽  
The Right

The article discusses problems of the constitutional regulation of property rights and property itself. The research has been narrowed down to the features of public property regulation in the Russian Federation. The relevance of the research is explained by the process of the reform in the public property administration in Russian Federation, which has transferring of the state property to some legal entities of public law as distinguished feature. The author proposes the historical analysis of the property regulation’s development and the role of the Constitution in this process. The comparative instruments are used to show the main preconditions and trends of public property regulation in Russia and other countries. The author argues the Russian Federation is going on the process of the property regulation construction and the modern stage sees the Constitution as a main axiological filter for that. Meanwhile, the Russian legal system has several obstacles in this way: the limitation of the direct force of the Constitution, the spoiled separation of power, etc. The importance of the system of the check and balances in the property administration is noted. Thus, the research explains the differences between the system of the separation of power in the United Kingdom, Ukraine, and Russia. The author discloses the distinguishing features of the public property the state needs to account in the process of the property transition to public law entities. The critic overview of detailed property regulation in the Constitution’s text is expressed. The author notes constitutional provisions that regulate property issues are features of the post-socialist states. The difference between property rights and sovereign rights is also enclosed in the article. The justification of the right to administrate public property is provided, the research explains the importance of the justification in public property administration and its role in democratic societies, especially in the Russian Federation. The privatization and decentralization of the public property administration are needed to be explained the effectiveness and stability of these decisions. Additionally, the author argues that public property must have more concrete regulation because it needs more complex rules for just and effective administration. The conclusion of the article explains the linkage between the constitutional ideal and the development of public property regulation.

scholarly journals SELECTION OF THE OPTIMUM MODEL OF MANAGEMENT IN WATER SUPPLY AND WASTEWATER SPHERE OF UKRAINE

2019 ◽  
pp. 10-17
Author(s):  
Natalia Olijnyk ◽  
Iryna Krylova
Keyword(s):  
Water Supply ◽  
State Policy ◽  
The State ◽  
Wastewater Management ◽  
Management Models ◽  
Financial Condition ◽  
Current State ◽  
Model Of Management ◽  
The Difference ◽  
Legal Forms

The article is devoted to the analysis of European models of water supply and wastewater management and their implementation in Ukraine. The authors review the classical models of EU water supply and water dsposal management: English, French and German, their historical and political roots, the theoretical basis. In parallel, the authors analyze the state policy in the sphere of water supply and wastewater of Ukraine, the principles of its formation and features, the current state of the sphere of water supply and wastewater, organizational and legal forms of water supply and wastewater enterprises. The article analyzes the current state of realization of public- private partnership in the field of water supply and wastewater with indication of existing contracts and contracts that have become invalid. It is proved that the difference between the water supply and wastewater companies of different management models in Ukraine is not marked, as the general state of the water supply and wastewater sector shows the existence of common problems characteristic of all enterprises. In particular, the ineffectiveness of tariff policies, depreciation of fixed assets, low quality of services, difficult financial condition, inadequate investment, etc. The authors discuss the possibilities of adaptation of classical management models in Ukraine and possible consequences. The article defines the institutional problems of the state policy of Ukraine in the sphere of water supply and wastewater, which influence the efficiency of the implementation and functioning of any model of management and regulation.

scholarly journals Features of the methodology for assessing budget efficiency investment pro-jects

2021 ◽  
Vol 23 (98) ◽  
pp. 40-44
Author(s):  
R. M. Myniv ◽  
V. О. Ivashkiv ◽  
Н. M. Mokrytska
Keyword(s):  
Return On Investment ◽  
Financial Support ◽  
Investment Project ◽  
Payback Period ◽  
Bank Loans ◽  
State Budget ◽  
Investment Projects ◽  
Main Indicator ◽  
The Difference ◽  
Definition Of

The analysis of current regulations shows that only a few indicators (budgetary effect) are used to assess the budget efficiency of investment projects in Ukraine, and the decision on financing is not made from it. As a result, it is necessary to raise the issue of introducing an additional system of indicators for assessing the effectiveness of investment projects, which characterize the return on investment of budget funds. Thus, the purpose of this study is to develop proposals for improving the methodology for assessing the budget effectiveness of investment projects. The main indicator for assessing the effectiveness of projects that provide state or regional financial support is the budgetary effect. Budget effect is the main indicator of budget efficiency used to justify the decision to finance the project, which is often defined as the difference between inflows and outflows of budget funds, taking into account discounting. The paper proposes to introduce additional indicators to assess the budget efficiency of the investment project, in addition to the payback period of state support. Absolute budget effect. which will be calculated in the form of two indicators: taking into account and without taking into account loans to banks under government guarantees. This calculation is justified, as the budget effect may be understated by including bank loans in the definition of this indicator, while the state budget may not incur costs under its guarantee obligations. Absolute budgetary effect, which characterizes the total amount of funds that the country's budget will receive as a result of the project. Relative budget effect, which characterizes the ratio of budget investments to the investment project and additional revenues to the budget. Budget profitability – shows how many monetary units the project implementation brings per unit of budget funds spent. Due to the fact that this indicator is based on the indicator of the absolute budgetary effect, the calculation of this indicator will be calculated taking into account and without taking into account bank loans issued under government guarantees. The authors have developed some modifications to the calculations for assessing the budget efficiency of investment projects, as well as the calculation of indicators of budget efficiency of projects that characterize the return on investment: absolute budget effect, relative budget effect (indirect and direct), budget profitability.

The corporate component of the public sector of the Russian economy: structure, assessment parameters, characteristics

2021 ◽  
pp. 181-191
Author(s):  
Andrey N. Khimchenko ◽  
Anastasiia M. Plaksina
Keyword(s):  
Public Sector ◽  
Russian Federation ◽  
Developed Countries ◽  
Complete Characterization ◽  
The State ◽  
Federal State ◽  
The Public ◽  
The Russian Federation ◽  
The Government ◽  
Legal Forms

The article systematizes the organizational and legal forms of legal entities of financial and non-financial corporations under the control of the state in the Russian Federation, which made it possible to outline the boundaries of the corporate component of the public sector of the economy. A system of indicators for quantitative measurement of this segment of the national economy is proposed. The most important indicators of the financial and economic activities of federal joint-stock companies (JSC) and federal state unitary enterprises (FSUE) are highlighted, data on which are presented on the website of the Federal State Statistics Service. The analysis of the dynamics of the number of federal JSCs and FSUEs in 2016-2020 was carried out, as a result of which a tendency towards a decrease in their number in Russia was revealed. An assessment of the share of profitable federal joint-stock companies and federal state unitary enterprises for each type of activity is given in comparison with this indicator on average in Russia. The dynamics of the profit received by federal JSCs and FSUEs and the share in the total volume of profits in the Russian Federation in 2018-2019 were also investigated. It was revealed that in Russia the municipal level in most information sources on the functioning of the state sector of the economy is not covered by statistical observation. It is noted that the work of the Analytical Center under the Government of the Russian Federation helps to compose the idea of ​​the activities of unitary enterprises at all three levels of government. At the same time, the available information base makes it possible to characterize the activities of only joint-stock companies of the federal level. In this regard, for a more complete characterization of the scale of the corporate component of the public sector of the economy, it is proposed to analyze the share of the largest companies with state participation (KSU) in the country’s aggregate economic indicators, information about which is provided by various rating agencies. It has been proved that in terms of capitalization of KSUs and the number of employed in them, Russia is ahead of many developed countries. This allows us to conclude that the Russian public sector is being built on the basis of a “corporate model”.

scholarly journals On the Names of States: Naming System of States Based on the Country Names and on the Public Law Components of State Titles

2020 ◽  
Vol 21 (6) ◽  
pp. 1257-1282
Author(s):  
Peter Takács
Keyword(s):  
Legal Theory ◽  
Public Law ◽  
The State ◽  
The Public ◽  
Current State ◽  
Form Of Government ◽  
The Difference ◽  
Or Organization ◽  
State Form

AbstractGeneral questions of name of the state are rarely discussed in the literature of public law, political science or legal theory, its terminology is neglected, and in its current state, it is a source of many misunderstandings. Pointed out these terminological problems this study proposes a theoretical framework for the naming system of states which takes into accounts the public law components of names. Among these components the significance of four factors are emphasized: the form of state (form of government), the structure, or organization of state, the role of seemingly neutral terms (for example, the words “commonwealth” or “state”), and, on the contrary, the role of politically, religiously or ethnically bound terms (such as “democratic”, “people’s”, “Arab” or “Islamic”) in the names of states. After clarifying the difference between the terms country name and state name (state title), this study shows that there are cases when the state name (state title) function as country name, and when the country name fulfills the communicative function of the state title.

scholarly journals Project finance risk management for public-private partnership

2017 ◽  
Vol 14 (4) ◽  
pp. 171-180 ◽  
Author(s):  
Oleh Kolodiziev ◽  
Viktoriia Tyschenko ◽  
Kateryna Azizova
Keyword(s):  
Risk Management ◽  
Capital Investment ◽  
Investment Project ◽  
Public Private Partnership ◽  
Project Finance ◽  
Private Partnership ◽  
Investment Projects ◽  
Risk Management Process ◽  
Private And Public ◽  
Finance Risk

The development of public-private partnership in Ukraine in recent years has become very important as an instrument of anti-crisis orientation. The real economic situation objectively creates the preconditions for more effective use of this mechanism and institutes of public-private partnerships in order to ensure sustainable economic development, obtain new ones and improve the quality of public services provided to the population.The objective of the research is to identify the components of project finance risk management and to provide justification of effective and balanced sharing of risks between public and private partners as the prerequisite and the main principle of effective implementation of public-private partnership.The authors used the following research methods: systemic approach, theoretical and empirical methods of scientific knowledge.This paper examines types of investment project financing by banks based on public-private partnership. It defines the structure of public-private partnership according to sources of capital investment in the project vehicle. The paper identifies components of the risk management process in project finance. It proves that a balanced distribution of risks between the private and public partners is the key requirement and the primary principle of effective public-private partnership. In this way, the need for mobilization of additional financial resources for implementation of investment projects calls for extended cooperation of state agencies and banks as a part of the effort of economic crisis management.

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