Legislative conflicts of development of the financial mechanism of public-private partnership in Ukraine

Abstract

Purpose. The purpose of the article is to study the legislation governing the formation and operation of the financial mechanism of public-private partnership, as well as to substantiate measures to address its gaps. Methodology of research. The following methods are used in conducting the research: an analysis and comparison – in study the normative and legal acts in relation to adjusting of financial mechanism of public-private partnership. The logical assessment was used to substantiate proposals for improvement and the main aspects of the development of legislative support of this mechanism. The generalization was used in the process of formulating conclusions based on the results of the analysis. Findings. It is established that normative and legal base for the development of the financial mechanism of public-private partnership is at the stage of formation, accompanied by a number of problems and constraints that hinder the development of the mechanism. It is multilevel, confusing, complex and bureaucratic. Therefore, the need to develop a state strategy for the development of partnership between the state and business at the national level is substantiated; establishing compliance between the legislation of general and specialized action; development and adoption of legislation that would regulate the partnership between the state and business in various types of economic activities and areas of social infrastructure, etc. Originality. Recommendations have been made to improve the legislative support for the development of the financial mechanism of public-private partnership, which, in contrast to the existing ones, will make it possible to resolve contradictory provisions in the field of cooperation between the state and business. Practical value. The practical implementation of the proposed measures will create favourable legislative conditions for the development of this mechanism, which will allow to solve state problems in the economic sphere and social infrastructure, as well as to stimulate entrepreneurial activity. Key words: financial mechanism, public-private partnership, legislation of Ukraine, economic sphere, social infrastructure, priorities of budget financing.