Mechanism of Use of Public and Private Partnership in Order to Develop Innovative Economy
Mechanism of Use of Public and Private Partnership in Order to Develop Innovative Economy

Summary/Abstract: The article presents the fundamental and effective tool to achieve strategic goals of the innovation economy under today's conditions – this is the use of the mechanism of public and private partnership (PPP). Nowadays, the place of a country is determined by a set of macro-technologies, which it is able to update and maintain using the huge flow of innovations and the continuous technological upgrading of the advanced sectors of the economy. It is noted that unlike the West, where the PPP is used to attract private investments in the major infrastructure projects, in Russia, this model addresses not only the economic, but also the political and social challenges. For this reason, a simple imitation of a positive or negative experience is impossible without taking into account the Russian specifics. Today, in Russia, the PPP development is hindered not only by the legislative gaps. There is an acute problem of absence of the efficient financing mechanisms even in those cases when the sufficient funds are available. The overall situation in the country does not contribute to the implementation of the long- term projects, which are not supported by the political component. Such situation mainly occurs not due to the high value of the borrowed money and the reluctance of banks to lend for long periods, but due to the general ambiance of the private business being afraid for the successful implementation of the complex long- term projects. The authors propose a model of the integrated assessment of the government and business interactions within the PPP projects, as well as the approaches to assessing the integral effect of the PPP projects implementation, which includes the project’s effects not only for the private businesses and public investors directly involved in the project, but also for the regional population and other commercial structures operating in the given region.

• Details
• Contents