IDEAS home Printed from https://ideas.repec.org/a/fru/finjrn/200606p87-99.html
   My bibliography  Save this article

Financial Participation of Public Partners in Public-Private Partnership

Author

Listed:
  • Makar I. Kudelich

    (Financial Research Institute, Moscow 127006, Russian Federation)

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.

Suggested Citation

  • Makar I. Kudelich, 2020. "Financial Participation of Public Partners in Public-Private Partnership," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 6, pages 87-99, December.
    • Handle: RePEc:fru:finjrn:200606:p:87-99
    DOI: 10.31107/2075-1990-2020-6-87-99
    as

    Download full text from publisher

    File URL: https://www.finjournal-nifi.ru/images/FILES/Journal/Archive/2020/6/statii/06_6_2020_v12.pdf
    Download Restriction: no
    File URL: https://libkey.io/10.31107/2075-1990-2020-6-87-99?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Alexander D. Andryakov, 2018. "International Experience and Russian Practice," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 6, pages 59-70, December.
    2. Ms. Elva Bova & Marta Ruiz-Arranz & Mr. Frederik G Toscani & H. Elif Ture, 2016. "The Fiscal Costs of Contingent Liabilities: A New Dataset," IMF Working Papers 2016/014, International Monetary Fund.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Leandro Andrián & Oscar Mauricio Valencia, 2023. "Past the Tipping Point? Assessing Debt Overhang in Latin America and the Caribbean," IDB Publications (Book Chapters), in: Andrew Powell & Oscar Mauricio Valencia (ed.), Dealing with Debt, edition 1, chapter 8, pages 183-196, Inter-American Development Bank.
    2. Mr. Antonio David & Natalija Novta, 2016. "A Balancing Act: Reform Options for Paraguay’s Fiscal Responsibility Law," IMF Working Papers 2016/226, International Monetary Fund.
    3. Alexander D. Andryakov, 2018. "International Experience and Russian Practice," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 6, pages 59-70, December.
    4. Panizza, Ugo & Fatás, Antonio & Ghosh, Atish R. & ,, 2019. "The Motives to Borrow," CEPR Discussion Papers 13735, C.E.P.R. Discussion Papers.
    5. María Cecilia Acevedo & Leandro Andrián & Victoria Nuguer & Oscar Mauricio Valencia, 2023. "Understanding the Rise in Debt," IDB Publications (Book Chapters), in: Andrew Powell & Oscar Mauricio Valencia (ed.), Dealing with Debt, edition 1, chapter 4, pages 67-94, Inter-American Development Bank.
    6. Andrew Powell & Oscar Mauricio Valencia, 2023. "The Bottom Line on Debt," IDB Publications (Book Chapters), in: Andrew Powell & Oscar Mauricio Valencia (ed.), Dealing with Debt, edition 1, chapter 13, pages 309-318, Inter-American Development Bank.
    7. Juan Carlos Hatchondo & Leonardo Martinez & Yasin Kürsat Önder & Francisco Roch, 2022. "Sovereign Cocos," Working Papers 139, Red Nacional de Investigadores en Economía (RedNIE).
      • Juan Carlos Hatchondo & Mr. Leonardo Martinez & Kursat Onder & Mr. Francisco Roch, 2022. "Sovereign Cocos," IMF Working Papers 2022/078, International Monetary Fund.
    8. Jordi Baños Rovira & Daniel Montolio & Marco Cangiano & Mark Miller & Ernesto Ganuza & Santiago Lago-Peñas, 2018. "The Challenges of Public Budgeting After the Great Fiscal Crisis: Where Improvements and Reform Can Be Made / Los retos de la presupuestación pública tras la gran crisis fiscal: líneas de mejora y ref," IEB Reports ieb_report_3_2018, Institut d'Economia de Barcelona (IEB).
    9. M. Ayhan Kose & Peter S. O. Nagle & Franziska Ohnsorge & Naotaka Sugawara, 2020. "Can This Time Be Different? Policy Options in Times of Rising Debt," Koç University-TUSIAD Economic Research Forum Working Papers 2008, Koc University-TUSIAD Economic Research Forum.
    10. Mr. Jacques A Miniane & Ezequiel Cabezon & Mr. Sebastian Weber & Christine J. Richmond & Ms. Dora Benedek & Mr. James Roaf & Mr. Francisco J Parodi & Mr. Peter Dohlman & Rima Turk & Bobana Cegar & Mic, 2019. "Reassessing the Role of State-Owned Enterprises in Central, Eastern and Southeastern Europe," IMF Departmental Papers / Policy Papers 2019/010, International Monetary Fund.
    11. Leopoldo Avellán & Arturo Galindo & Giulia Lotti, 2023. "Official Creditors: Providing More than Money," IDB Publications (Book Chapters), in: Andrew Powell & Oscar Mauricio Valencia (ed.), Dealing with Debt, edition 1, chapter 7, pages 161-182, Inter-American Development Bank.
    12. Masuch, Klaus & Anderton, Robert & Setzer, Ralph & Benalal, Nicholai, 2018. "Structural policies in the euro area," Occasional Paper Series 210, European Central Bank.
    13. Afonso, António & Jalles, João Tovar, 2020. "Stock flow adjustments in sovereign debt dynamics: The role of fiscal frameworks," International Review of Economics & Finance, Elsevier, vol. 65(C), pages 1-16.
    14. Ms. Sally Chen & Mr. Joong S Kang, 2018. "Credit Booms—Is China Different?," IMF Working Papers 2018/002, International Monetary Fund.
    15. Ugo Panizza & Andrew Powell, 2023. "Reducing Public Debt: What Works Best?," IDB Publications (Book Chapters), in: Andrew Powell & Oscar Mauricio Valencia (ed.), Dealing with Debt, edition 1, chapter 9, pages 197-222, Inter-American Development Bank.
    16. Laura Jaramillo & Carlos Mulas†Granados & Joao Tovar Jalles, 2017. "Debt spikes, blind spots, and financial stress," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 22(4), pages 421-437, October.
    17. Kose, M. Ayhan & Kurlat, Sergio & Ohnsorge, Franziska & Sugawara, Naotaka, 2022. "A cross-country database of fiscal space," Journal of International Money and Finance, Elsevier, vol. 128(C).
    18. Manish K. Singh & Marta Gómez-Puig & Simón Sosvilla-Rivero, 2019. "“Increasing contingent guarantees: The asymmetrical effect on sovereign risk of different government interventions"," IREA Working Papers 201914, University of Barcelona, Research Institute of Applied Economics, revised Sep 2019.
    19. Cangoz, Mehmet Coskun & Sulla, Olga & Wang, ChunLan & Dychala, Christopher Benjamin, 2019. "A Joint Foreign Currency Risk Management Approach for Sovereign Assets and Liabilities," MPRA Paper 100311, University Library of Munich, Germany.
    20. José Renato Haas Ornelas, 2017. "Risco, Dívida e Alavancagem Soberana," Working Papers Series 457, Central Bank of Brazil, Research Department.

    More about this item

    Keywords

    Public-Private Partnership; Public Partner; Budget; State Financial Participation; Financial Support; Subsidies; State and Municipal Guarantees;
    All these keywords.

    JEL classification:

    • L32 - Industrial Organization - - Nonprofit Organizations and Public Enterprise - - - Public Enterprises; Public-Private Enterprises

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:fru:finjrn:200606:p:87-99. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Gennady Ageev (email available below). General contact details of provider: https://edirc.repec.org/data/frigvru.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.