Article

Received 24.11.2021

Revised 13.03.2022

Accepted 22.04.2022

Retrieved from Vol. 26, No. 2, 2022

Pages 50 -56

Bondar, N., Barvinska-Mavajovich, А., & Sagaidak, Ie. (2022). Theoretical principles of coordination of interests of participants of public-private partnership. The National Transport University Bulletin, 26(2), 50-56. https://doi.org/10.33744/2308-6645-2022-2-52-050-056

Theoretical principles of coordination of interests of participants of public-private partnership

Nataliia Bondar А. Barvinska-Mavajovich Ievheniia Sagaidak

The object of research is the existing theoretical approaches to understanding the essence of the concept of economic interest and coordination of interests of participants in public-private partnership projects. The objectives of the article are to systematize and generalize the understanding of the interests of participants in public-private partnership projects. The research method is monographic. Today, public-private partnership is seen as a tool for socially significant projects that stimulate socio-economic development of the region, ensure employment growth. At the same time, society receives the necessary services much faster than if these projects were implemented solely through the efforts of the authorities. Participants in public-private partnerships combine their efforts and competencies, share responsibilities and risks, revenues. Despite the joint efforts of the partners to jointly implement projects, the interests of the participants differ. The implementation of the PPP project involves the coordination of interests both at the level of vertical relations (the state is a private investor) and horizontal relations, where the direct executors of the project cooperate. In addition, there is a need to take into account the interests of society, in particular the inhabitants of the territories where the infrastructure project is implemented. According to world practice, one of the reasons for the failures of PPP projects is the failures associated with the poor organization of cooperation between partners. To ensure the successful implementation of the PPP project, it is necessary to take into account the economic interests of its participants with the levels of their responsibility and risks. It is established that to ensure the successful implementation of public-private partnership projects should take into account and reconcile the interests of participants, considering such a partnership as: 1) an integral part of the economic system, which is a set of economic relations, resources, results, efficiency, etc.; 2) socio-economic system, which is regulated by the institutional environment and aimed at providing society with the necessary services and products; 3) the subject of economic relations, which is characterized by production and economic, resource, financial and credit and social ties; 4) a project that provides for the presence of purpose, resources and time constraints; 5) organizational structure that ensures the implementation of the project and the achievement of socially important tasks; 6) general characteristics of the method of actions related to the joint solution of tasks by the state and private business; 7) method of financing a socially significant project; 8) a tool for implementing public administration in strategic areas. This means that the interests of PPP project participants should be considered from different points of view, taking into account the levels of their formation and impact. Further research should be conducted taking into account the levels of formation and influence of the interests of participants in public-private partnership projects. 

public-private partnership; economic interest; partnership participants; opportunity behavior; risk; responsibility
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https://doi.org/10.33744/2308-6645-2022-2-52-050-056