Public-private partnership as an effective mechanism for attracting private investment in achieving the aims the socio-economic development of Ukraine
-
DOIhttp://dx.doi.org/10.21511/ppm.17(4).2019.38
-
Article InfoVolume 17 2019, Issue #4, pp. 469-479
- Cited by
- 1166 Views
-
179 Downloads
This work is licensed under a
Creative Commons Attribution 4.0 International License
The article analyzes public-private partnership (PPP) as a form of interaction between state and business in the context of optimizing the Ukrainian economy. According to the results of SWOT analysis of the implementation of PPP projects in the infrastructure of Ukraine (2017–2019), the main criteria that determine the necessary model of public-private partnership were substaintiated, namely the distribution of investments, risks, obligations between the state and the private sector, the term and object of the agreement.
The study analyzed the impact of economic, political, legislative and criminal processes on public-private partnerships in Ukraine. It was proved that the formation of specific allocation relations based on the interaction between public and private property is the most important feature of public-private partnership, which distinguishes it from other forms of interaction between the state and business. Advantages of PPP are as follows: the increase of management efficiency of state and municipal property objects, the reduction of tax burden on the state budget and optimization of budget expenditures on public services provision, the maintenance of budget-funded institutions, etc. It has been established that the PPP is the best alternative to privatization in order to attract private investment in strategic infrastructure facilities.
- Keywords
-
JEL Classification (Paper profile tab)L32, L33
-
References28
-
Tables3
-
Figures7
-
- Figure 1. Public-private partnership criteria
- Figure 2. Regions, ranked by number of projects (1991–2019) (USD million)
- Figure 3. Regions ranked by investment (1991–2019)
- Figure 4. Changes in real GDP according to the State Statistics Service of Ukraine
- Figure 5. Contracts being implemented
- Figure 6. Contracts not implemented
- Figure 7. Acquisition of direct investment in Ukraine (USD billon)
-
- Table 1. Indexes of Ukraine in the World Corruption Perception Rating
- Table 2. Acquisition of capital investments in% in the ratio from January-March 2019 to January-March 2018
- Table 3. The state of PPP implementation in Ukraine
-
- Agazaryan, N. (2016). Analiz mirovogo opyta primeneniya mekhanizma gosudarstvenno-chastnogo partnerstva [Analysis of world experience in applying the mechanism of public-private partnership]. Gosudarstvenno-chastnoe partnerstvo – Public-private partnership, 3(2), 151-172. (In Russian).
- Bogatyrev, I., Topchiy, V., Koropatnik, I., Kotliarenko, O., & Kofanov, A. (2019). Problems and perspectives for attracting investments in economy of Ukraine. Investment Management and Financial Innovations, 16(2), 195-205.
- Borovik, A. (2019). CPI-2018: Ukraina znovu hirshe vsikh susidiv, okrim Rossii [CPI-2018: Ukraine is again worse than all its neighbors, except Russia]. Transparency International Ukraine. (In Ukrainian).
- Danylyshyn, B. (n.d.). Derzhavno-pryvatne partnerstvo – stratehichna forma vzaiemodii vlady i biznesu [Public-private partnership – a strategic form of interaction between government and business]. (In Ukrainian).
- Economic Commission for Europe Committee on Innovation, Competitiveness and Public-Private Partnerships. (2017). Expert and consultancy advice in low income countries for drafting regulations and developing People first PPP projects meeting the Sustainable Development Goals (SDGs): A major issue deserving innovative approaches. Working Party on Public-Private Partnerships First session Geneva, 21-22 November 2017. Item 5 of the provisional agenda Draft Proposal for Guidelines on Transformative PPP Implementation and Sustainable Development.
- Economic Discussion Club. (2018). Doing Business–2018. Ukraina v reytynhu Svitovoho Banku lehkosti vedenniia biznesu [Doing Business–2018. Ukraine in the ranking of the World Bank ease of doing business]. (In Ukrainian).
- Filyppowa, S., & Malin, O. (2017). Derzhavno-pryvatne partnerstvo: problemni pytannia ta stratehichni zavdannia v umovakh smartyzatsii innovatsiinoho rozvytku [Public-private partnership: problem issues and strategic tasks in terms of smart-innovation development]. Ekonomika: realii chasu – Economy: realities of time, 5(33), 5-15. (In Ukrainian).
- Jomo, K., & Chowdhury, A. (2009). Reconsidering public-private partnerships in developing countries. International Journal of Institutions and Economies, 1(2), 191-205.
- Jomo, K., Chowdhury, A., Sharma, K., & Platz, D. (2016). Public-Private Partnerships and the 2030 Agenda for Sustainable Development: Fit for purpose? (Working Paper, 148, 28). New York, 10017, USA. Department of Economic & Social Affairs.
- Kofanova, O., Tereshchenko, Yu., Kutsyi, R., Morhun, N., & Gushchyn, O. (2019). Actual situation of computer crime in the credit and financial sphere of Ukraine (modern aspects). Banks and Bank Systems, 14(1), 172-180.
- Kredisov, A., & Bilous, A. (2016). Derzhavno-pryvatne partnerstvo: vsesvitnie ta yoho vykorystannia v Ukraini [State-private partnership: the world experience and its use in Ukraine]. Ekonomika Ukrainy – Ukrainian Economy, 2(651), 4-16. (In Ukrainian).
- Laptiy, T. (2017). Formuvannia solidarno-rehuliatyvnoi systemy vidnosyn derzhavy ta maloho pidpryiemnytstva [Formation of solidarity-regulatory system of relations between the state and small business]. Abstract, 23. (In Ukrainian).
- Legislation of Ukraine. (n.d.).
- Mashchenko, M. (2018). Derzhavno-pryvatne partnerstvo yak umova invaironmentalnoi bezpeky [Public-private partnership as a precondition for ensuring environmental security]. Efektyvna Ekonomika – Efficient Economy, 12, 1-7. (In Ukrainian).
- Pavlova, G. (2011). Derzhavno-pryvatne partnerstvo: analiz vsebichnoho dosvidu ta shliakhiv rozvytku v Ukraini [Public-Private Partnership: An Analysis of World Experience and Development Pathways in Ukraine]. Derzhava i Rynok – State and Market, 130-133. (In Ukrainian).
- Pavlyuk, K., & Pavlyuk, S. (2010). Sutnist i rol derzhavno-pryvatnoho partnerstva v sotsialno-ekonomichnomu rozvytku derzhavy [The essence and role of public-private partnership in the socio-economic development of the state]. Naukovi pratsi Kirovohradskoho natsionalnoho tekhnichnoho universytetu. Ekonomichni nauky – Scientific works of the Kirovohrad national technical university. Economic Sciences, 17, 10-19. (In Ukrainian).
- Renda, A., & Schrefler, L. (2005). Public-Private Partnerships: Models and Trends in the European Union [Text]. The European Parliament, 65-67.
- Simak, S. (2014). Svitovyi dosvid orhanizatsii derzhavno-pryvatnoho partnerstva [World experience of public-private partnership organization]. Naukovi pratsi: Derzhavne upravlinnia – Scientific works: Public Administration, 223/201(235), 88-93. (In Ukrainian).
- State Statistics Service of Ukraine. (n.d.).
- The Ministry for Development of Economy, Trade and Agriculture of Ukraine. (n.d.).
- The Ministry of Economic Development and Trade of Ukraine. (2017). Tsili staloho rozvytku: Ukraina. Ministerstvo ekonomichnoho rozvytku i torhivli Ukrainy [Sustainable Development Goals: Ukraine. Ministry of Economic Development and Trade of Ukraine]. (In Ukrainian).
- The World Bank. (2015). Featured Rankings, 1990 to 2018.
- Transparency International (2019). Corruption perceptions index 2018.
- UkraineInvest, (2019).
- Uzunov, F. (2015). Formuvannia efektyvnykh instrumentiv realizatsii derzhavno-pryvatnoho partnerstva Ukrainy [Formation of effective tools for realization of public-private partnership of Ukraine]. Aktualni problemy derzhavnoho upravlinnia – Actual problems of public administration, 1(47), 167-175. (In Ukrainian).
- Varnavsky, V., Klymenko, A., & Korolev, V. (2010). Gosudarstvenno-chastnoe partnerstvo: teoriya i praktika [Public-private partnership: theory and practice] (287 p.). Moscow: Higher School of Economics. (In Russian).
- Yurtayeva, K. (2018). Suchasni tendentsii ekonomichnoi zlochynnosti v Ukraini [Contemporary tendencies of economical crime in Ukraine]. Visnyk Kryminolohichnoi Asotsiatsii Ukrainy – Bulletin of the Criminological Association of Ukraine, 2(19), 109-119. (In Ukrainian).
- Zapatrina, I. (2016). Pravove rehuliuvannia ne ye osnovnoiu pereshkodoiu dlia realizatsii DPP [Legal regulation is not the main obstacle for the implementation of PPP]. Yurydychna Gazeta online – Legal Newspaper online, 49-50, 547-548. (In Ukrainian).