№ 10/2016

Fìnansi Ukr. 2016 (10): 65–0

FINANCIAL AND ECONOMIC REGULATION

DYBA Mykhailo ¹

¹Kyiv National Economic University named after Vadym Hetman
OrcID ID : https://orcid.org/0000-0003-2007-9572

Concession: essence and forms of financial support

The article deals with the basic aspects of public-private partnership under a concession, which enable to attract private funding for state programs and projects. The author considers different approaches to defining the nature of a concession agreement, provides its characteristics and justifies forms of financial support. The author examines features of the concession in the world, identifies the key trends and patterns, analyzes the legal framework and outlines the problematic aspects of concession development in Ukraine. The study outcomes are used to prove the need for changes in view of relevant international practices. It is noted that intensification of concession-based public-private partnership enhances relationships and improves mutual understanding of both sides through more efficient use of limited resources to achieve specific strategic goals. The author emphasizes the feasibility of using such a form of public-private partnership to combine state priorities with private sector capacities.

Keywords:concession, financial support, private ownership, investments.

JEL: H54, L32.

DYBA M. . Concession: essence and forms of financial support / M. . DYBA // Фінанси України. - 2016. - № 10. - C. 65-0.

Article original in Ukrainian (pp. 65 - 76)

Download

Downloads :361

1. Avksyent`yev, M. Yu. (2010). Public-private partnerships as a modern mechanism for attracting investment in the infrastructure sector of Ukraine (Unpublished master’s thesis). Ky`yiv: Mіnіsterstvo ekonomіky` Ukrayiny`, Naukovo-doslіdny`j ekonomіchny`j іnsty`tut [in Ukrainian].
2. Bodnar, H. F. (2010). Management of public-private partnership on the basis of harmonization of interests (Unpublished master’s thesis). Іvano-Frankіvs`k: Mіnіsterstvo ekonomіky` Ukrayiny`, Іvano-Frankіvs`ky`j nacіonal`ny`j tekhnіchny`j unіversy`tet nafty` і hazu [in Ukrainian].
3. Vdovenko, Yu. S. (2009). Private-public partnership in the field of road. Chernіhіv: Chernihivs`ky`j derzhavny`j tekhnolohіchny`j unіversy`tet [in Ukrainian].
4. Yefy`menko, T. І., Cherevy`kov, Ye. L., Pavlyuk, K. V. (2012). Public-private partnership in the system of economic regulation. Ky`yiv: Nacіonal`na akademіya nauk Ukrayiny`, Іnsty`tut ekonomіky` ta prohnozuvannya [in Ukrainian].
5. Saraeva, I. N. (2011). State and entrepreneurship: problems of interaction (system-Institutional aspects). Odessa: Feniks [in Russian].
6. OECD. (n. d.). OECD Principles for Public Governance of Public-Private Partnerships. Retrieved from www.oecd.org/gov/budgeting/oecd-principles-for-public-governance-of-public-private-partnerships.htm.
7. Deloitte. (n. d.). What is Public-Private Partnerships? Retrieved from www2.deloitte.com/cn/en/pages/real-estate/articles/what-is-public-private-partnerships.html.
8. World Bank Group. (n. d.). Public-private partnership in infrastructure resource center. Retrieved from ppp.worldbank.org/public-private-partnership/.
9. PWC. (n. d.). Public-private partnership. Retrieved from www.pwc.com/gx/en/industries/healthcare/experience-services/public-private-partnerships.html.
10. Medvedyeva, O. A. (2005). Concession as a legal form of state property in business non-state actors (Unpublished master’s thesis). Kharkіv: Nacіonal`na yury`dy`chna akademіya Ukrayiny` [in Ukrainian].
11. Verkhovna Rada of Ukraine. (2013). On concessions (Law № 997-14, November 10). Retrieved from zakon3.rada.gov.ua/laws/show/997-14 [in Ukrainian].
12. Verkhovna Rada of Ukraine. (2015). On Concession for construction and operation of highways (Law № 1286-14, December 9). Retrieved from zakon3.rada.gov.ua/laws/show/997-14 [in Ukrainian].
13. Verkhovna Rada of Ukraine. (2003). Economic Code of Ukraine (Law № 436-IV, January 16). Retrieved from zakon0.rada.gov.ua/laws/show/436-15 [in Ukrainian].
14. Verkhovna Rada of Ukraine. (2012). On Public-Private Partnership (Law № 2404-VI, December 2). Retrieved from zakon2.rada.gov.ua/laws/show/2404-17 [in Ukrainian].
15. Cohla, O. O. (2013). The theoretical basis of interpretation of the term “concession”. Actual problems of economics, 7, 34—38 [in Ukrainian].
16. Landau, B. A. (1925). Concession Law of the USSR. Moscow: Glavlit [in Russian].
17. Boguslavskij, M. M. (2003). Private international law. Moscow: Mezhdunarodny`e otnosheniya [in Russian].
18. Zel`dіna, O. R. (2007). Theoretical aspects of special economic regime (Unpublished doctoral dissertation). Donec`k: Nacіonal`na akademіya nauk Ukrayiny`, Іnsty`tut ekonomіko-pravovy`kh doslіdzhen` [in Ukrainian].
19. Hry`horov, O. M. (2000). Concession agreement: legal nature and peculiarities of legal regulation (Unpublished master’s thesis). Ky`yiv: Іnsty`tut mіzhnarodny`kh vіdnosy`n Ky`yivs`koho nacіonal`noho unіversy`tetu іmenі Tarasa Shevchenka [in Ukrainian].
20. Tkachenko, Ya. S. (2015). Concession: world experience and features used in Ukraine. Modernization of Ukrainian society in the light of an association agreement with the EU. Ky`yiv: Akademіya pracі і socіal`ny`kh vіdnosy`n Federacіyi profspіlok Ukrayiny` [in Ukrainian].
21. Pіlіhrіm, H. S. (2009). The concept, nature and content of municipal concession agreement. In City, region, country: economic and legal problems of management. Doneck: Noulidzh [in Ukrainian].
22. Pervomajskij, O. (2002). The concept of the concession and the concession contract. Economy. Finances. Right, 3, 14—16 [in Ukrainian].
23. Varnavskij, V. G. (2005). The partnership of the state and the private sector: forms, projects, risks. Мoscow: Nauka [in Russian].
24. Popovy`ch, D. V. (2015). Public-private partnerships: international experience and prospects for Ukraine. Scientific Bulletin of Kherson State University, 10, 1, 39—42 [in Ukrainian].
25. Dluhopol`s`ky`j, O. V., Zhukovs`ka, A. Yu. (2012). Public-private partnerships: international experience and lessons for Ukraine. Actual problems of economics, 3, 43—49 [in Ukrainian].
26. Association of Ukrainian Cities. (n. d.). Results day public-private partnership in the framework of the VIII Ukrainian Municipal Forum in Yalta. Retrieved from www.auc.org.ua/news/ pidsumki-dnya-derzhavno-privatnogo-partnerstva [in Ukrainian].
27. Cabinet of Ministers of Ukraine. (1999). On approving the list of state property that can be given in concession (Decree № 2293, December 11). Retrieved from zakon3.rada.gov.ua/laws/show/2293-99-п [in Ukrainian].
28. The World Bank. (n. d.). Private Participation in Infrastructure Database. Country snapshots. Ukraine. Retrieved from ppi.worldbank.org/explore/ppi_exploreCountry.aspx?countryId=97.