Open AccessInstitutional Support for the Development of Public-Private Partnership in the Public Governance System
Author(s) -
V. Y. Dankevych,
О. В. Захаріна,
Y. V. Zolotnytska
Publication year - 2021
Publication title -
problemi ekonomìki
Language(s) - English
Resource type - Journals
eISSN - 2311-1186
pISSN - 2222-0712
DOI - 10.32983/2222-0712-2021-2-17-22
Subject(s) - general partnership , public administration , business , government (linguistics) , corporate governance , politics , public–private partnership , new public management , state (computer science) , public sector , public economics , economics , finance , political science , law , economy , algorithm , computer science , linguistics , philosophy
Theoretic aspects of the formation and development of public-private partnership (PPP) are studied. By using a systemic approach, it is determined that the most important factor in improving the efficiency of public-private partnership is its institutional support. It is substantiated that globally, the PPP is mostly initiated by public authorities, which can be explained by a number of reasons. Firstly, public authorities are responsible for the country's strategic development. Secondly, public authorities formulate "rules of the game" for businesses and individuals, plan capital investments, and select PPP entities that are a priority in terms of public interest. In fact, it is the state that undertakes to address objectives facing society. Therefore, nowadays the importance of creating a favorable institutional environment to develop PPPs is recognized at all the levels of economic management and is emphasized in the scientific community. It is proved that the interests of public authorities, private businesses and the community are reconciled through the complementation of political, legal, and socio-economic norms and rules of conduct. The functions of public authorities at the national and regional levels of government are systematized.