STATE-PRIVATE PARTNERSHIP MECHANISMS APPLICATION FOR ECONOMIC CLUSTERS’ FINANCING
Journal Title: Проблеми системного підходу в економіці - Year 2017, Vol 3, Issue 59
Abstract
A prerequisite for sustainable development in the state of the globalized world and economies, both in short-term and long-term time horizons, is the introduction of innovative solutions at all levels of the economy. Innovational development is the main factor of guaranteed economic stability in the global competition. Accordingly, the lack of incentives for entrepreneurs to invest in innovation across the country leads to loss of competitiveness on world markets. In such circumstances, most countries realize the importance of combining public and private interests in order to achieve economic improvements. One of the mechanisms of innovation and synergistic effect of the interaction between the private sector, state and research institutions as drivers of innovation, which is recognized on a global level is the formation of innovation clusters at regional level. Cluster programs and regional development strategies focused on the sharing of budgetary and private funds, without which it is impossible to implement large-scale, strategic projects and provide high competitiveness. At the same time, Ukraine has no law to regulate the process of formation of innovation clusters. So, the most convenient form of cooperation between the state, private sector and research institutes is a public-private partnership (PPP). Due to abovementioned facts in this research the essence of the public-private partnership is discovered as the effective mechanism of state and private sectors' interaction and collaboration with the aim of regional and state levels' ambitious projects realization. The main types of public-private partnership were determined as contracts management, performance and leasing, concessions and "new projects". It was found that in Ukraine PPP previously had been implemented successfully, but PPP funding mechanism had never been used for clusters. The stages of the innovation cluster development were structured. The structural scheme of cluster policy based on the PPP, scheme of PPP model selection and implementation plan using PPP are elaborated. Directions for further research on the financing of next stages of cluster development by attracting foreign investment are offered.
Authors and Affiliations
D. A. Pyrogov
Keywords
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