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The Role of the Public-Private Partnership in Local Development

Author

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  • Pavlo SHYLEPNYTSKYI

    (Fedkovych Chernivtsi National University)

Abstract

The article is devoted to the peculiarities of the Public-Private Partnership (PPP) utilization in local development. The public-private partnership is currently considered an innovative tool of the territorial units’ development at local and regional levels. It is a collaboration of the state and private business in developing the common use of infrastructure facilities and related service provisions, which involves changing the traditional role of the former in this process, namely the redistribution of the functions of design, financing, construction, rehabilitation, operation and maintenance of roads, airports, railway stations, water supply and so on to the private sector, including the transfer of risks. The article takes into consideration the general characteristics of PPP and its models. The main trends of global PPP market development are defined. The necessity of PPP use in the development of regional infrastructure is grounded, and its advantages are presented.

Suggested Citation

  • Pavlo SHYLEPNYTSKYI, 2017. "The Role of the Public-Private Partnership in Local Development," Agricultural Economics and Rural Development, Institute of Agricultural Economics, vol. 14(2), pages 209-216.
    • Handle: RePEc:iag:reviea:v:14:y:2017:i:2:p:209-216
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    More about this item

    Keywords

    public-private partnership (PPP); public infrastructure; infrastructure services; government; PPP market.;
    All these keywords.

    JEL classification:

    • H54 - Public Economics - - National Government Expenditures and Related Policies - - - Infrastructures

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