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Financial Participation of Public Partners in Public-Private Partnership

Author

Listed:
  • Makar I. Kudelich

    (Financial Research Institute, Moscow 127006, Russian Federation)

Abstract

This article attempts to identify and analyze the problems of forms of financial participation of public partners in PPP agreements, which may be solved by legislation improvement. The article presents a comparative analysis of Russian and international practice and legislation in the field of types and procedures for choosing forms of state financial participation in PPP projects. Conclusions are made about the absence of formal criteria for choosing the form of financial participation of a public partner in the PPP agreement and the rules for determining their volume, about the uncertainty and shortcomings of legislative regulation of “financial provision” in relation to a public partner, about the refusal from using the provision of debt financing and budget investments in share capital of project companies, on the establishment of high security budgetary requirements for regressive rights of the state in relation to the principal, which make the use of state (municipal) guarantees unclaimed in Russian practice of PPP projects.

Suggested Citation

  • Makar I. Kudelich, 2020. "Financial Participation of Public Partners in Public-Private Partnership," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 6, pages 87-99, December.
    • Handle: RePEc:fru:finjrn:200606:p:87-99
    DOI: 10.31107/2075-1990-2020-6-87-99
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    References listed on IDEAS

    as
    1. Alexander D. Andryakov, 2018. "International Experience and Russian Practice," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 6, pages 59-70, December.
    2. Ms. Elva Bova & Marta Ruiz-Arranz & Mr. Frederik G Toscani & H. Elif Ture, 2016. "The Fiscal Costs of Contingent Liabilities: A New Dataset," IMF Working Papers 2016/014, International Monetary Fund.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Public-Private Partnership; Public Partner; Budget; State Financial Participation; Financial Support; Subsidies; State and Municipal Guarantees;
    All these keywords.

    JEL classification:

    • L32 - Industrial Organization - - Nonprofit Organizations and Public Enterprise - - - Public Enterprises; Public-Private Enterprises

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