Institutional bases of public-private partnership development

Abstract

Objective: to identify and systematize the institutional foundations for the development of public-private partnership (PPP)at the national level.Methods: when writing the article, historical, logical, country-study and comparative methods were used. The main data sources used were information materials on public-private partnership issues developed by the Ministry of Economic Development of the Russian Federation, the European Commission, and the World Bank Group, as well as the databases of PPP projects: Rosinfra (www.rosinfra.ru/project) and EPEC Data Portal (www.data.eib.org/epec).Results: the study found that the basis of the institutional environment of public-private partnership is formed by the following elements: legal regulation of PPP, development institutions, and state policy in this area. Within the framework of legal regulation, two main approaches were identified: (1) the existence of special legislation on public-private partnership and (2) the regulation of public-private partnership on the basis of common law. A classification of national PPP development institutions was been elaborated. The author’s vision of the stages of the state policy evolutionary development in this area is proposed. The analysis carried out and the classifications obtained are confirmed by the cases of such countries as Russia, France, and Germany. Scientific novelty: the article systematizes the main elements that make up the institutional basis for the PPP development. Their interrelation is established, as well as the nature of each element influence on the level of public-private partnership market development in the country. In particular, the existence of the legal field of PPP, as well as the appropriate development institution, creates the basic conditions for starting projects in this area. At the same time, the content of the state policy in the field of PPP as the third institutional element determines the qualitative characteristics of this market development. The state policy of regulating the public-private partnership has four main stages of development: “formation”; “total application”; “PPP as a tool for the territory development”; “PPP as a means of achieving the Sustainable Development Goals (SDGs)”. Practical significance: the main provisions and conclusions of the work can be used by executive authorities both at the federal and regional levels in order to further improve the institutional framework for the PPP development, which, in turn, will contribute to a more effective implementation of PPP projects and can provide the necessary inflow of investments into infrastructure sectors.

Keywords

• economics and national economy management
• public-private partnership (ppp)
• public policy
• infrastructure
• project