THEORETICAL PRINCIPLES OF THE FINANCIAL-CREDIT MECHANISM OF PUBLIC-PRIVATE PARTNERSHIP
Introduction. In Ukraine public-private partnership has not been properly developed. The lack of budget financing and the lack of incentives for investors hinder the active implementation of public-private partnerships. Insufficient attention is paid to the study of the financial and credit mechanism of public-private partnership, which acquires lately specific features related to the expanded interpretation of the content of the mechanism and its functional load .
Purpose. The aim of the study is to provide scientific substantiation of the theoretical foundations of the financial and credit mechanism of public-private partnership.
Results. Financial-credit mechanism of public-private partnership is considered as a system of appropriate measures (methods, levers, incentives and tools) for the search, attraction and effective use of financial and credit resources for the implementation of public-private partnership is proposed. The structural organization of the financial and credit mechanism of the PPP is due to the breadth of its interpretation. The breadth of interpretation of the financial and credit mechanism is determined by the ratio of public and private financial resources that can be included in the mechanism and peculiarities that are specific to the public-private partnership. The subjective structure of the financial and credit mechanism of the public-private partnership has an expanded structure and includes not only the public and private sectors, but also financial, insurance, social and consulting. The sources of public-private partnership funding include the financial resources of a private partner; borrowed financial resources; financial resources of the state partner. The presence of various financial instruments in the financial and credit mechanism of the RFP shows quite wide opportunities for the use of the potential of both the state and the private sector
Originality. The theoretical principles of the financial-credit mechanism of PPP are generalized on the basis of the formulation of the concept of "financial and credit mechanism of public-private partnership" by the method of designing using system-structural and functional approaches and determining the peculiarities of the said mechanism: the subject structure, sources of financing, financial instruments and state support.
Conclusion. The concept of "financial-credit mechanism" is defined by the method of constructing using system-structural and functional approaches. The features of financial and credit mechanism of public-private partnership are revealed. The subject structure of the public-private partnership is considered: public, private, financial, insurance, social and consulting. The sources of financing of public-private partnership in three groups are systematized: financial resources of the private partner, borrowed financial resources and financial resources of the state partner. The financial tools of public-private partnership are generalized.
Ministry of Economic Development and Trade of Ukraine (2017). Information on concluded public-private partnership agreements. Retrieved from http://www.me.gov.ua/Documents/Detail?lang=en-UA&id=24249595-c6bb-4098-86db-7a97c3465cf3&title=InformatsiiaSchodoUkladenikhDogovoriv (in Ukr.).
Zapatrina, I.V. (2011). Development of public support for public-private partnership in Ukraine. Ekonomika i prohnozuvannya, 3, 9–24 (in Ukr.).
Frolov, S. M., & Yeremeychuk, R.A. (2013). Financial aspects of public-private partnership. Ekonomika rozvytku, 4, 18-22 (in Ukr.).
Pyltyay, O. (2012). Financial Instrument of State Support to Public-Private Partnerships. Visnyk Kyyivsʹkoho natsionalʹnoho torhovelʹno-ekonomichnoho universytetu, 1, 77–89 (in Ukr.).
Pyltyay, O. (2012). Financial mechanisms of public-private partnership. Visnyk Kyyivsʹkoho natsionalʹnoho torhovelʹno-ekonomichnoho universytetu, 3, 63–74 (in Ukr.).
Shilepnytsky, P. I. (2011). Public-Private Partnership: Theory and Practice. Chernivtsi: In-t region. research (in Ukr.).
In Abalkin L. I. (Ed.) (1986). Economic mechanism of social formations. Moscow: "Thought" (in Russ.).
In Mocharyn, S. V. (Ed.) (2001) Economic Encyclopedia V. 2. Kyiv: Publishing Center "Academy" (in Ukr).
Izmalkov, S., Sonin, K, Yudkevich, M. (2008). The theory of economic mechanisms (Nobel Prize in Economics 2007). Voprosy ekonomiki, 1, 4-26 (in Russ.).
Kulman, A. (1993). In Khrustalyova N. I. (Ed.) Economic mechanisms. Moscow: Progress: Universe (in Russ.).
Verkhovna Rada of Ukraine (2010). On public-private partnership (Law of Ukraine). Retrieved from http://zakon5.rada.gov.ua/laws/show/2404-17 (in Ukr).
Varnavsky, V.G., Klimenko, A.V., Korolev, V.A. et al. (2010). Public-private partnership: theory and practice Moscow: Publishing house of the University of Higher School of Economics (in Russ.).
- Поки немає зовнішніх посилань.