The Role Of The Public-Private Partnership Under Economic Crisis At Eu Level And Its Challenges On The Romanian Market
AbstractTo tackle the financial and economic crisis, the EU and its Member States are trying to stimulate investment in infrastructure projects as an important mean to maintain economic activity during the crisis and support the return to economic growth. Public Private Partnership (PPP) is a proven instrument for effectively delivering infrastructure projects, being at the same time an interesting vehicle for the long-term structural development of infrastructures and services, bringing together advantages of both the private and the public sector. At EU level, PPP can offer superior leverage to key projects, increase Europe’s innovation capacity and drive the competitiveness of European industry in sectors with growth and employment potential. However, just at the time when the systematic use of PPP would bring considerable benefits, the crisis has made its implementation more difficult. It is therefore very important to find new ways to support the development of PPP. EU financing through the Structural Funds, the European Investment Bank or TEN-T instruments can mobilize financing solutions for PPP projects, even at a time of reduced availability of national public or private resources. The EU also influences the environment in which PPP’s operate through its regulatory framework. Romania is part of the EU and can use the advantages of PPP in order to sustain its recovery from the crisis and close the infrastructure quality gap to the EU western countries. This needs, however deeper understanding among the public authorities and higher efforts in creating a more precise regulatory framework.
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Bibliographic InfoArticle provided by The Bucharest University of Economic Studies in its journal Journal of Doctoral Research in Economics.
Volume (Year): 3 (2011)
Issue (Month): 1 (March)
Public-Private Partnership; EU-funding; economic crisis; investment; infrastructure;
Find related papers by JEL classification:
- D53 - Microeconomics - - General Equilibrium and Disequilibrium - - - Financial Markets
- G01 - Financial Economics - - General - - - Financial Crises
- G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
- H54 - Public Economics - - National Government Expenditures and Related Policies - - - Infrastructures
- H57 - Public Economics - - National Government Expenditures and Related Policies - - - Procurement
- L32 - Industrial Organization - - Nonprofit Organizations and Public Enterprise - - - Public Enterprises; Public-Private Enterprises
- R42 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics - - - Government and Private Investment Analysis; Road Maintenance; Transportation Planning
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