2019Economic scopeOpen access

Public-private partnership projects: implementation and analysis of efficiency

А. С. Крутова, Tetiana Tarasova, Наталія Борисівна Кащена

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Abstract

The article investigates modern trends of development public-private partnership and grounded directions of estimation of efficiency of realization of infrastructure projects taking into account public necessities and interests of different stakeholders. Based on the analysis of the current state and experience of implementation of projects involving the mechanism of public-private partnership it has been revealed that, unlike the countries of the European Union, the effectiveness of its use in the regions and various sectors of the economy of Ukraine is at a rather low level. It has been proven that the synergy of collaboration between the state and private business has certain complications, but instead generates a number of benefits for each partner. It has been marked, that the feasibility of implementing joint projects is determined by their positive impact on society and high level of efficiency for different stakeholders. It has been recommended to perform he evaluation of the effectiveness of the public-private partnership project on a multi-criteria basis, involving formalized and non-formalized methods of estimation of efficiency of projects of the real investments, and determine the utility of a project for a society, its financial, budgetary, environmental and socio- economic efficiency. The methodical tool of estimation of efficiency of the real projects is specified taking into account interests of different stakeholders, that provides possibility of integral estimation, instrumental in transparency of making decision and allows to determine the most effective forms and mechanisms of co-operation of the state and business.

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The article investigates modern trends of development public-private partnership and grounded directions of estimation of efficiency of realization of infrastructure projects taking into account public necessities and interests of different stakeholders. Based on the analysis of the current state and experience of implementation of projects involving the mechanism of public-private partnership it has been revealed that, unlike the countries of the European Union, the effectiveness of its use in the regions and various sectors of the economy of Ukraine is at a rather low level. It has been proven that the synergy of collaboration between the state and private business has certain complications, but instead generates a number of benefits for each partner. It has been marked, that the feasibility of implementing joint projects is determined by their positive impact on society and high level of efficiency for different stakeholders. It has been recommended to perform he evaluation of the effectiveness of the public-private partnership project on a multi-criteria basis, involving formalized and non-formalized methods of estimation of efficiency of projects of the real investments, and determine the utility of a project for a society, its financial, budgetary, environmental and socio- economic efficiency. The methodical tool of estimation of efficiency of the real projects is specified taking into account interests of different stakeholders, that provides possibility of integral estimation, instrumental in transparency of making decision and allows to determine the most effective forms and mechanisms of co-operation of the state and business.

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Available abstract

The article investigates modern trends of development public-private partnership and grounded directions of estimation of efficiency of realization of infrastructure projects taking into account public necessities and interests of different stakeholders. Based on the analysis of the current state and experience of implementation of projects involving the mechanism of public-private partnership it has been revealed that, unlike the countries of the European Union, the effectiveness of its use in the regions and various sectors of the economy of Ukraine is at a rather low level. It has been proven that the synergy of collaboration between the state and private business has certain complications, but instead generates a number of benefits for each partner. It has been marked, that the feasibility of implementing joint projects is determined by their positive impact on society and high level of efficiency for different stakeholders. It has been recommended to perform he evaluation of the effectiveness of the public-private partnership project on a multi-criteria basis, involving formalized and non-formalized methods of estimation of efficiency of projects of the real investments, and determine the utility of a project for a society, its financial, budgetary, environmental and socio- economic efficiency. The methodical tool of estimation of efficiency of the real projects is specified taking into account interests of different stakeholders, that provides possibility of integral estimation, instrumental in transparency of making decision and allows to determine the most effective forms and mechanisms of co-operation of the state and business.

Key concepts: General partnership, Public–private partnership, Transparency (behavior), Estimation, European union, Business, Private sector, Economics

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