Abstract
Purpose: The purpose of the work is to build an institutional model of interaction between government and business in public-private partnership.
Methodology: The theoretical and methodological basis of the research is neo-institutional economics.
Results: It is determined that public-private partnership is a social institute, in which interaction between public authorities (public sector) and business (private sector) takes place for effective provision of the necessary public benefits. The relations between partners are regulated by the agreement, and each of them seeks his own interests and gains the advantages. A definition of public-private partnership is offered and, according to it, an institutional model of interaction between government and business in public-private partnership is developed, which reflects its essences.
Recommendations: It is substantiated that public-private partnership should not be considered a universal solution to all problems of provision of public benefits – it is an option among the range of possible tools, the choice out of which should be determined by peculiarities of each specific project and the current situation. In addition to this, the process of public-private partnership is very dynamic, and its success is largely predetermined by the context. That’s why the institutional concept of public-private partnership described only its general outlines and basic characteristics, on which varying details are set in practice. For design and structuring of specific partnership relations (e.g., terms of contract, structure of assets, distribution of responsibilities and risks, etc.), it is recommended to select the corresponding models, forms, and mechanisms of public-private partnership.
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Yatsechko, S.S. (2020). Building an Institutional Model of Interaction Between Government and Business in Public-Private Partnership. In: Popkova, E. (eds) Growth Poles of the Global Economy: Emergence, Changes and Future Perspectives. Lecture Notes in Networks and Systems, vol 73. Springer, Cham. https://doi.org/10.1007/978-3-030-15160-7_71
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DOI: https://doi.org/10.1007/978-3-030-15160-7_71
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