Methodology for evaluating the effectiveness of financial instruments and levers of public-private partnership: controversy in the scientific environment
DOI:
https://doi.org/10.35774/visnyk2022.04.074Keywords:
public-private partnership, projects, financial instruments, financial levers, performance evaluation, goals of partnership participantsAbstract
Introduction. The implementation of partnership relations between the state and business is based on the principles of mutual benefit, which must be measurable. Taking into account the above, the evaluation of the effectiveness of the use of its financial instruments and levers for each of the participants is of great importance in the financial mechanism of the public-private partnership. Performance evaluation requires the study of this phenomenon and the analysis of its main components in order to clarify the value and expediency.
Target. The purpose of the article is to highlight the debatable views of scientists regarding the expediency of using a certain methodology for evaluating the effectiveness of financial instruments and levers of public-private partnership.
Research methods. The methodological basis of the research is the methods of bibliographic analysis, comparison, synthesis and generalization, as well as the fundamental theoretical approaches of economists, which make it possible to determine the essence of performance evaluation and the importance of its use in the process of implementing public-private partnership projects.
Results. The article describes various approaches to the implementation of the methodology for evaluating the effectiveness of the use of financial instruments and levers of public-private partnership. They are reflected in normative documents, many domestic and foreign publications, which causes the absence of a single methodology for this assessment. However, taking into account the fact that there are two parties involved in the partnership, most scientists believe that a comprehensive assessment should be based on indicators that should take into account the benefits of all participants in the public-private partnership. This will make it possible to assess the level of realization of the interests of the partnership participants, identify negative trends in the process of achieving them, and identify factors that prevent the desired result from being achieved.
Perspectives. Further scientific research will be aimed at uncovering the pragmatics and issues of evaluating the effectiveness of financial instruments and levers at each stage of implementation of public-private partnership projects.
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