Public-private partnership — an actual form of implementation of infrastructure projects

Publication type Article
Status Published
Affiliation: National Research University of Information Technologies, Mechanics and Optics
Address: Russian Federation, Saint-Petersburg
Affiliation: GSPA at Lomonosov Moscow State University
Address: Russian Federation, Moscow
Journal nameEkonomika i matematicheskie metody
EditionVolume 54 Issue 4

This article is about actual form of cooperation between states and the corporate partners in big infrastructural economic projects — public-private partnership. The mechanism of public-private partnership helps states to optimize using of state budget resources on the implementation of important, but expensive projects in key areas of national economy. In long-term period, states can realize more socially significant projects. Private business in public-private partnership has an opportunity to realize major, long-term projects and to share risks of the project implementation with state partners. Without state participation, the implementation of such significant projects would be impossible because of the high cost of debt financing. The profitability of the project would be negative, because of the high level of risk, so the likelihood of completion of the project on time and with the necessary result would be minimal. The first experience of implementation of public-private partnership appeared long before the 20th century. Legal regulation of public-private partnership differs in different countries. In many countries there are special bodies for project management in public-private partnership. In the world practice public-private partnership projects are implemented in a wide range of industries from the construction of highways to hospitals. In the Russian practice of public-private partnership there are already a number of significant successful projects implemented. In this case, there are our own special problems and features.

KeywordsPublic-private partnership, state procurement, concession, investment fund, private partner
Publication date15.01.2019
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