ACTUAL PROBLEMS OF STATE FINANCING IN THE CONTEXT OF IMPLEMENTATION OF PARTNER INFRASTRUCTURE PROJECTS OF THE STATE AND BUSINESS

WORLD OF FINANCE ◽

10.35774/sf2021.02.079 ◽

2021 ◽

pp. 79-93

Author(s):

Bohdana SHULIUK

Keyword(s):

Public Funding ◽

Public Private Partnership ◽

The State ◽

Infrastructure Projects ◽

State Support ◽

Local Authorities ◽

Private Partnership ◽

State And Local ◽

State Financing ◽

Financial Participation

Introduction. An integral condition for the efficient functioning of the economy is the constructive financial interaction between the state and business. Such cooperation is due to the need to improve the infrastructure sectors, the efficiency of which affects not only the welfare and quality of life, but also creates the conditions for intensifying investment activities and increasing productivity in the fields of material production. However, modernization of infrastructure is not possible only at the expense of private partners, so it requires financial participation of state or local authorities. The purpose of the article is to identify the problems of public funding of public-private partnership infrastructure projects in Ukraine and to develop recommendations for their solution, taking into account the best world practices. Results. The study showed that public funding of public-private partnership projects in Ukraine is carried out through the use of direct and indirect state support. It is established that its forms are insufficiently adapted in domestic practice, as they have a restrictive nature of action, and also contain many gaps in the legislation. Conclusions. Increasing the investment attractiveness of infrastructure projects implemented on the basis of public-private partnership requires state support. At the same time, state and local authorities should adhere to the provisions: providing state support in the process of implementing strategically important PPP projects in the field of socio-economic activities by legislative regulation of the procedure for determining the level of contribution of a supported investment project; determining the type of financial participation of the state (provision of state guarantees, subsidies or budget investments) should be based on economically justified performance indicators; involvement of state representatives to assess the feasibility of choosing certain forms of state support, forecasting the possible risks to prevent budget imbalances; ensuring transparency of public funding of PPP projects, which will increase the level of confidence in the investment market.

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DIRECTIONS OF ADVISORY SUPPORT FOR USING THE MECHANISM OF PUBLIC-PRIVATE PARTNERSHIP IN ENHANCING THE EFFECTIVENESS OF ENVIRONMENTAL LOGISTICS

ED/2019/1 - The economic discourse ◽

10.36742/2410-0919-2019-4-3 ◽

2019 ◽

pp. 28-37

Author(s):

Anatoliy Ivanko ◽

Yuriy Bakun ◽

Mykhaylo Ksenofontov

Keyword(s):

Public Private Partnership ◽

Public And Private ◽

Private Partnership ◽

The Public ◽

Material Resources ◽

Study Results ◽

Duration Of Storage ◽

State And Local ◽

State Financing ◽

Business Entities

Introduction. Search of ways of solving of ecological problems is significance on the current stage of economic reforming of Ukraine. Development research for minimization of ecological externalities for society is actual too. Search of different mechanisms and order of the organizational and financial provision of solving of public problems is substantial for reforming considering the limited the state and local budgets also. Methods: The dialectical method of cognition and a systematic method for studying the issues of advisory support for using the mechanism of public-private partnership in the system of ecological logistics, as well as: analysis, synthesis, analogy, expert method, generalization method were used. The comparative analysis method was used to analyze the role of the public-private partnership mechanism in solving of public problems, the expert method was used to reveal the features of advisory support for the use of the public-private partnership mechanism, the analysis, synthesis and analogy methods were used to determination of approaches for solving environmental problems at the economic level, generalization method to form the conclusions of the study. Results. Expediency of strengthening of competitive position of business entities on the basis of optimization of transport expenditures, volumes and duration of storage of commodity and material resources and products have been proved. This is connected with theoretical direction of eco-logistics. Description of aim marks of development of ecological logistics have been represented. Legislative characteristic: the concept of “public and private partnership” and its advantages, objects and signs of PPP, forms and PPP contract areas have been represented. Four-stages algorithm of advisory support of use of public-private partnership contracts have been substantiated in eco-logistics within the next four stages: 1. search of competitions of state financing of PPP projects and participation in them; 2. search the best partners for realization of PPP projects; 3. substantiation of directions of optimization of market expenses; 4. adjustment of system of strategic and operational management. Discussion for further research are to divide competency between state and privates partners of public-private partnerships and to balance between economical and ecological efficiency in the eco-logistics projects. Keywords: eco-logistics, public-private partnership, advisory support, management, cost-effectiveness, eco-efficiency.

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Public-private partnership (PPP): legal regulation, techniques and practice in the context of industrialization

E3S Web of Conferences ◽

10.1051/e3sconf/202020806003 ◽

2020 ◽

Vol 208 ◽

pp. 06003

Author(s):

Oksana Trotsenko ◽

Oleksandr Batanov ◽

Natalia Simachkova

Keyword(s):

Road Construction ◽

Legal Regulation ◽

Public Private Partnership ◽

The State ◽

Infrastructure Projects ◽

Social Infrastructure ◽

Private Partnership ◽

Optimal Form ◽

Foreign Experience

In the article, public-private partnership (hereinafter - PPP) is analyzed as one of the ways to implement infrastructure projects. This form of cooperation arises primarily in those areas for which the state bears responsibility (for ex-ample, road construction, housing and communal services, healthcare, con-struction of social infrastructure facilities, etc.). Due to the strategic importance of the above spheres of the economy, the state can not completely abandon control over their functioning. At the same time, there is a need to maintain the operability of the objects included in them, as well as to attract additional (in addition to budget) funding. Based on foreign experience, the most optimal form of cooperation in this case is PPP.

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Financial Participation of Public Partners in Public-Private Partnership

Financial Journal ◽

10.31107/2075-1990-2020-6-87-99 ◽

2020 ◽

Vol 12 (6) ◽

pp. 87-99

Author(s):

M.I. Kudelich ◽

Keyword(s):

Comparative Analysis ◽

Public Private Partnership ◽

The State ◽

Debt Financing ◽

Private Partnership ◽

Share Capital ◽

High Security ◽

Legislative Regulation ◽

Financial Participation

This article attempts to identify and analyze the problems of forms of financial participation of public partners in PPP agreements, which may be solved by legislation improvement. The article presents a comparative analysis of Russian and international practice and legislation in the field of types and procedures for choosing forms of state financial participation in PPP projects. Conclusions are made about the absence of formal criteria for choosing the form of financial participation of a public partner in the PPP agreement and the rules for determining their volume, about the uncertainty and shortcomings of legislative regulation of “financial provision” in relation to a public partner, about the refusal from using the provision of debt financing and budget investments in share capital of project companies, on the establishment of high security budgetary requirements for regressive rights of the state in relation to the principal, which make the use of state (municipal) guarantees unclaimed in Russian practice of PPP projects.

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PUBLIC-PRIVATE PARTNERSHIP AS THE MECHANISM OF THE RURAL TERRITORIES’ DEVELOPMENT

Environmental Economics and Sustainable Development ◽

10.37100/2616-7689/2019/6(25)/3 ◽

2019 ◽

pp. 20-26

Author(s):

Mariia Ilina ◽

Yulia Shpyliova

Keyword(s):

Rural Areas ◽

Local Governments ◽

Local Level ◽

National Level ◽

Public Private Partnership ◽

The State ◽

The Other ◽

State Support ◽

Private Partnership ◽

The Public

Public-private partnership is the instrument of cooperation between state and business. It has many forms and functions but the only purpose to improve welfare of the territories. In relations between state and business the partnership can play dominant, subsidiary or supervisory role, regulate the institutional mechanism of financial cooperation, develop strategies, solve conflicts and provide social, communal and infrastructure services. Currently implementation of the public-private partnership mechanism in Ukraine is complicated because of shortcomings and gaps in legislation, deficit of different levels budgets, institutional inability of local governments to plan and implement partnership projects and low efficiency of economic activity of business entities. Concerning implementation of the mechanism on rural areas it should be substantially enhanced at the national level for many reasons. Firstly economic situation in most rural areas in Ukraine is depressed and community budgets lack funds. It proves the necessity to intensify economic cooperation and introduce other forms of cooperation. On the other hand, many negative socio-demographic trends (migration, depopulation, social exclusion and marginalization) are inherent in rural areas. It makes difficult for local governments to cooperate with communities members. Capability of the state to support partnerships is also complicated major because of underdeveloped organizational and economic support mechanism. Lack of annual plans to finance partnership projects, funds, technical support to implement projects, and no ways to get state guarantees are the evidence. Taking into account rural territories have no much capacity for development, the mechanism of public-private partnership should include the following key steps: identifying priority areas for PPP application, considering socio-economic potential of different types of the territories and social relevance of a project for a community; improving the qualification level of project management personnel; involvement of the private sector into infrastructural projects; state support for pilot projects; ensuring more transparency in decision making and use of budget resources and simplifying project selection requirements. Implementation of the PPP mechanism on rural areas will improve their infrastructure and satisfy social needs of residents. In order to improve the mechanism of state support for the implementation of PPP projects at the local level it is needed to establish a national specialized agency, define clearly powers of the state authorities, local self-government authorities and members of communities involved into PPP implementation. The other task is to create an informational framework. The purpose of the article is to substantiate how the public-private partnership’s mechanism can work on rural areas.

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Models and forms of public and private partnership in modern conditions

Bulletin of "Turan" University ◽

10.46914/1562-2959-2020-1-3-169-175 ◽

2020 ◽

pp. 169-175

Author(s):

Z. B. Sadykova

Keyword(s):

General Scheme ◽

Public Private Partnership ◽

The State ◽

Entire Period ◽

Innovative Development ◽

Infrastructure Projects ◽

Public And Private ◽

Private Partnership ◽

Optimal Variant ◽

Long Time

In economics many attempts are made to reveal the essence of such concepts as the model and form of public and private partnership. In addition, in modern practice, in the process of searching for the most optimal variant of interaction between the state and private structures, there is a wide variety of forms, types and models of public private partnership. Throughout the entire period of transformation of the economy of Kazakhstan, many of them were underestimated, despite the fact that they cover the basic aspects of society and ensure their harmonious development. For quite a long time, the state cannot fully implement many major infrastructure projects. Various forms and models of partnership between the state and private entities could help to solve these problems. Moreover, in the context of innovative development, this type of interaction between government and business will receive a new impetus in the development and application of new forms of public private partnership that meet modern realities. It should be noted that the conditions of contractual relations in our country are usually extremely complex and unstable. All this requires the creation of a contractual procedure that would include the entire general scheme of the main elements of such contracts, taking into account their features.

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MANAGEMENT OF PUBLIC-PRIVATE PARTNERSHIP PROJECTS IN THE FIELD OF CAPITAL CONSTRUCTION

Black Sea Economic Studies ◽

10.32843/bses.63-8 ◽

2021 ◽

Author(s):

Tetyana Sabetska ◽

Liliia Stefanyshyn ◽

Svitlana Hryhoriv

Keyword(s):

Local Governments ◽

Life Support ◽

Public Private Partnership ◽

The State ◽

Private Business ◽

Local Authorities ◽

Public Authorities ◽

Actual Problem ◽

Private Partnership ◽

Capital Construction

The article is devoted to the study of theoretical and methodological aspects of public-private partnership in the field of capital construction. In the context of globalization and the development of European integration processes, the need to improve the quality of life of the population and the introduction of European and world standards of life support makes the actual problem of improving the efficiency of housing and communal services and capital construction. The article defines that public-private partnership in today's conditions is one of the most progressive mechanisms of effective cooperation between the state (territorial community) and private business, which is carried out in order to increase the effectiveness of their functions by state and municipal authorities. Thus, based on the analysis of domestic practice of public-private partnership, the promising experience in implementing partnership projects of local governments and the private sector on the example of Ivano-Frankivsk is separated. In particular, the main aspects of cooperation between the local authorities of Ivano-Frankivsk and NEFCO in the implementation of energy saving programs are presented. It is noted that the basis of public-private partnership, as a rule, is the financial relationship between public authorities and representatives of private business. That is, it is about investing private capital in the development of state and communal property, necessarily on mutually beneficial terms. It is obvious that in the current conditions the implementation of projects in the field of capital construction by local authorities is practically impossible without the involvement of private partners in this process. At the same time, there are a number of factors and obstacles that in practice significantly complicate the process of establishing effective cooperation between the state and business. It is substantiated that public-private partnership is a kind of mechanism that provides certain benefits simultaneously for all its participants: the state, private business and the community. However, it has been proven that, as in any other economic relationship, there are some risks in a public-private partnership that are likely to create a threat to each party to the partnership.

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The algorithm of structuring a large infrastructure project in the form of public-private partnership

Transportation systems and technology ◽

10.17816/transsyst2018041005-018 ◽

2018 ◽

Vol 4 (1) ◽

pp. 005-018

Author(s):

Yana V. Sokolova

Keyword(s):

Magnetic Levitation ◽

Public Private Partnership ◽

The State ◽

Infrastructure Projects ◽

Private Partnership ◽

Transport Accessibility ◽

State Management ◽

Dialectical Approach ◽

Analysis And Synthesis ◽

The Moment

The Public-Private Partnership (PPP) is one of the most crucial tools for modernisation development of the state management system, a new concept of cooperation between the state and business. Therefore, it is highly significant to develop the scientific approaches to structural arrangement of infrastructure projects in the form of PPP. The first step towards this is the construction of algorithm of this process, which has been made in this paper. The state is actively participating in the realisation of large infrastructure projects. A new legislative base, which regulates the priority of the infrastructure, is being formed. With the realisation of the planned projects, only a range of transport accessibility problems is solved. Whereas, the issues of development of transit potential of the country, the increase of transport accessibility of various regions, bolstering the mobility of population, etc. remain open. An ambitious task to create an alternative transport “arteriole” through the Russian Federation territory may be solved by means of the Russian elaborations of the innovative transport technology on the basis of magnetic levitation. In order to justify the feasibility of such a large project in the form of PPP, the structuring algorithm has been developed, which enables assessing the project at all viewpoints, starting from the moment of the idea of its realisation to the point of its operation, to determine the time costs, and other constituents of the process influencing the project. The elaboration is based on a dialectical approach to the study of the innovative development, the application of scientific methods of the analysis and synthesis, classification, expert’s assessments, mathematical statistics, the geographical image of the data, which enable ensuring the reliability of the results and the validity of conclusions. Creating instruments for structuring aims at exploring and expanding mechanisms of cooperation between the state and private business within PPP.

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