Keywords
public governance
institutional mechanisms
public value
infrastructure projects
Good Governance
New Public Management
Public Value Management
ESCO contracts
public sector modernization
How to Cite
Abstract
The article provides a theoretical and conceptual analysis of the essence and functional purpose of public-private partnership (PPP) in the context of modern paradigms of public administration. The scientific approaches to the interpretation of PPP as an institutionally regulated mechanism of long-term interaction between the public and private sectors aimed at creating socially significant benefits and increasing the efficiency of infrastructure project management are analyzed. The key invariant features of partnership mechanisms are noted, in particular, the contractual formalization of relations, the integration of managerial and financial functions, as well as the optimal distribution of risks between the parties. It is found that PPP is not only a financial instrument, but also an institutional form of modernization of management practices within the framework of the transition to network models of governance. The organizational and legal forms of PPP implementation, their variability and adaptability to industry specifics are considered, which confirms the institutional flexibility of partnership mechanisms. It is substantiated that the functional potential of PPP is manifested through the investment-fiscal, innovation-technological, management-performance and social components, while the effectiveness of their implementation is determined by the quality of the regulatory environment and the institutional capacity of the state. It is proven that the modern model of regulatory regulation of PPP in Ukraine is focused on the integration of international standards, increasing the transparency of procedures and expanding the scope of application of partnership mechanisms, including digital infrastructure. Special attention is paid to ESCO contracts as an example of a result-oriented tool for modernizing the public sector. The conclusions are drawn that public-private partnership should be considered as a complex institutional mechanism capable of combining economic rationality, principles of good governance and orientation towards creating public value in the process of transforming the public administration system.
References
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