Improvement of the state policy for the public-private partnership development in Ukraine

Abstract

Under the conditions of increasing necessity to enhance cooperation between the public and private sectors of Ukraine's economy, governmental support for the public-private partnership (PPP) development becomes more vital. This requires elaboration of effective public policies focusing on the regulation of interaction between state and local authorities, business entities and civil society institutions to ensure systematic development of PPP. Theoretical and empirical scientific methods were applied to meet the described challenge, which was the main goal of the research. The importance of the government regulation mechanism in the formation of public policy on the PPP development support has been emphasised, this mechanism including regulatory, supportive and compensatory functions. In this context, the content of the concept "government regulation of PPP" has been redefined and the composition of the state regulation mechanism for PPP development has been presented. In this regard, the subjects that compose the institutional environment of PPP have been identified; the functional components of each PPP actor have been described; the range of public policy objectives on PPP development support depending on the level of government (central/local level) has been formulated. These steps may improve the coordination system for the government regulation mechanism in the field of PPP development. In addition, recommendations have been developed by the authors aiming to improve public policies on PPP development in the legal, institutional, organizational, budgetary and investment areas. Following the suggested recommendations in the defined areas of public policy on the PPP development support will foster PPP development and improve the PPP practice usage in Ukraine. The results of the research can be used by the representatives of state authorities and local governments engaged in the formation of strategic programs on PPP development and implementation of the PPP development concept in Ukraine.