Public-Private Partnership as an Institutional Instrument of Investment in the Country’s Economy

Abstract

The article is aimed at researching the world experience of efficient interaction between the public and private sectors, defining the main advantages of the implementation of public-private partnership (PPP) relations, identifying problems in the legislative base on regulation of the PPP process in Ukraine. Introduction and formation of public-private partnership as an instrument of attraction of investment resources and interaction of public and private sectors are considered. It has been found that lack of financing and negative experience of privatization of the State property caused the introduction of the PPP institute in the world practice. However, there is no single unified approach to the regulation of relations in the sphere of PPP presently, which would meet the needs of all countries. In Ukraine, this mechanism is being implemented, but it is not a widespread practice because of terminological discrepancies and lack of a uniform procedure for providing the State support to the implementation of PPP. The advantages of the PPP implementation for the public and private sectors have been determined.

Keywords

• public-private partnership
• investment
• institutional instrument
• European experience
• concession
• mechanism