Template-Type: ReDIF-Article 1.0
Author-Name: Makar I. Kudelich
Author-Email: kudelich@nifi.ru
Author-Workplace-Name: Financial Research Institute, Moscow 127006, Russian Federation
Title: Financial Participation of Public Partners in Public-Private Partnership
Abstract: This article attempts to identify and analyze the problems of forms of financial participation of public partners in PPP agreements, which may be solved by legislation improvement. The article presents a comparative analysis of Russian and international practice and legislation in the field of types and procedures for choosing forms of state financial participation in PPP projects. Conclusions are made about the absence of formal criteria for choosing the form of financial
participation of a public partner in the PPP agreement and the rules for determining their volume, about the uncertainty and shortcomings of legislative regulation of “financial provision” in relation to a public partner, about the refusal from using the provision of debt financing and budget investments in share capital of project companies, on the establishment of high security budgetary requirements for regressive rights of the state in relation to the principal, which make the use of state (municipal) guarantees unclaimed in Russian practice of PPP projects.
Classification-JEL: L32
Keywords: Public-Private Partnership, Public Partner, Budget, State Financial Participation, Financial Support, Subsidies, State and Municipal Guarantees
Journal: Finansovyj žhurnal — Financial Journal
Pages: 87-99
Issue: 6
Year: 2020
Month: December
DOI: 10.31107/2075-1990-2020-6-87-99
File-URL: https://www.finjournal-nifi.ru/images/FILES/Journal/Archive/2020/6/statii/06_6_2020_v12.pdf
File-Format: Application/pdf 
Handle: RePEc:fru:finjrn:200606:p:87-99