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Public–Private Partnerships as a Mechanism of Financing Sustainable Development

In: Financing Sustainable Development

Author

Listed:
  • Bruno S. Sergi

    (Harvard University)

  • Elena G. Popkova

    (Plekhanov Russian University of Economics)

  • Kseniya V. Borzenko

    (Rostov State University of Economics)

  • Natalia V. Przhedetskaya

    (Rostov State University of Economics)

Abstract

While the obstacles to supporting sustainable development include financial barriers, the goals of sustainable development are being pursued by separate small-scale and narrow private entrepreneurial initiatives within corporate responsibility and own commercial interests and by strictly limited (due to a deficit of financial resources) and ineffective (due to the inflexibility of management) national initiatives in the public interest. Our working hypothesis is that public–private partnership is a perspective mechanism of financing sustainable development, as it allows for harmonizing private and public interests, unifying entrepreneurial and government investments, and developing highly effective and full-scale implementation of initiatives in the sphere of sustainable development. We substantiate and develop practical recommendations for successful usage of public–private partnership as a mechanism of financing sustainable development. Flexibility and variability of the mechanism of public–private partnership ensures its applicability to any project in the sphere of sustainable development. A proprietary conceptual model of financing sustainable development by public–private partnership offers practical solutions to become a conceptual basis and framework practical guide for application of public–private partnership as a mechanism of financing sustainable development.

Suggested Citation

  • Bruno S. Sergi & Elena G. Popkova & Kseniya V. Borzenko & Natalia V. Przhedetskaya, 2019. "Public–Private Partnerships as a Mechanism of Financing Sustainable Development," Palgrave Studies in Impact Finance, in: Magdalena Ziolo & Bruno S. Sergi (ed.), Financing Sustainable Development, chapter 0, pages 313-339, Palgrave Macmillan.
    • Handle: RePEc:pal:psifcp:978-3-030-16522-2_13
    DOI: 10.1007/978-3-030-16522-2_13
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