APPROACHES TO THE DEFINING PUBLIC-PRIVATE PARTNERSHIP IN PUBLIC MANAGEMENT

Анотація

In the article the main approaches to defining the concept of "public-private partnership" are analyzed. The most common implementation schemes of public-private partnership are considered. The difference between the concepts of public-private partnership, public procurement, privatization and concession is outlined. The role of the partnership between the state and business in ensuring the balanced development of the state is substantiated. Attention is focused on the most important issues of interaction between state and private operators, which require legislative regulation to ensure the success and efficiency of partnership interaction. The characteristic features of public-private partnership relations are substantiated. It has been established that public-private partnership involves the provision by the private sector of infrastructure assets and services that were traditionally provided by the government. The infusion of private capital and governance can ease fiscal constraints on infrastructure investment and improve efficiency. Reflecting these advantages, PPPs are gaining popularity around the world, with a number of countries having well-established programs while many others have less developed programs or interest in them. However, it cannot be taken for granted that PPP is more efficient than public investment or public provision of services. It is argued that adequate risk transfer from government to the private sector is a key requirement if PPPs are to provide high-quality and cost-effective services to consumers and government. But this is only one of the prerequisites for success. The quality of services should be contractual so that payments to service providers can be linked to their performance, the need for costly renegotiation of contracts is minimized, and that there is either competition or incentive regulation, which is a necessary condition for improving efficiency. An appropriate institutional framework characterized by political commitment, effective governance and clear supporting legislation is also needed.

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