Abstract
The importance of Public Private Partnership (PPP) in agriculture is understood in terms of a shared mechanism among partners for input, resource, market, risk, technology and benefits. In addition, review of various studies indicated the visibility of PPP in various facets of knowledge management, capacity building of youth, development of high end technologies, processing and market promotion in agriculture. The partnership approach apart from developing certain technologies also empowered farmers in terms of enhanced access to technology and market in Russia through organized farmers groups. The limitations of PPP such as focus mainly on high end technologies, high profit margin areas and crops, perceived mistrust and lack of transparency and non-adherence to agreement among partners could be overcome through appropriate working mechanism and policy support. Establishing PPP cell at research and development organizations would spearhead the growth of PPP and thereby sustainable agriculture and livelihood of millions of farm in Russia. The article will be interesting and useful for students of law and economic faculties, it helps them to understand the latest techniques relevant to a particular sector in PPP and or to understand how responses developed in jurisdictions where PPP is firmly established might be applied to new markets.
Highlights
The importance of Public Private Partnership (PPP) in agriculture is understood in terms of a shared mechanism among partners for input, resource, market, risk, technology and benefits
The decision for the government to adopt a PPP approach to pursue a given objective should be guided by the balance of costs and benefits, compared with other alternatives, as participation in PPPs should be for all innovation actors
The rationale for the government to engage in PPPs for innovation is to increase economic and social benefits from investments in public research by: improving the leverage of public support to business Research and Development through cost and risk sharing, securing higher-quality contributions by the private sector to government mission-oriented R&D and opening new avenues for commercial spillovers from public research, fostering the commercialisation of results from public research, upgrading knowledge infrastructures [1]
Summary
When markets for the delivery of innovation fail, generally at the early stage of research, for the provision of social and environmental services or at the stage of adoption, governments may consider different policy alternatives, such as public investment, policy instruments such as subsidies or tax incentives, and a PPP approach. The rationale for the government to engage in PPPs for innovation is to increase economic and social benefits from investments in public research by: improving the leverage of public support to business Research and Development through cost and risk sharing, securing higher-quality contributions by the private sector to government mission-oriented R&D and opening new avenues for commercial spillovers from public research, fostering the commercialisation of results from public research, upgrading knowledge infrastructures [1]. PPPs for innovation are considered as a means of orienting public investments into strategic PPPs, and strengthening innovation systems
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