PUBLIC-PRIVATE PARTNERSHIP: THE MECHANISM OF INNOVATIVE DEVELOPMENT IN RUSSIA

T. L. Savostova () and A. L. Biryukov ()

Russian Journal of Industrial Economics, 2015, issue 4

Abstract: The strategy of innovative development of the Russian Federation until 2020 charts a course to create a sustainable national innovation system and the development of the economy sectors. The strategy is based on the fact that the further development of Russia should be based on the growth of knowledge-intensive, high-tech and affective strategy sectors. One of the principal mechanisms for the Russia’s development is the strengthening cooperation between public authorities and business as a prerequisite for further effective development of the national economy.The international experience of public-private partnership to finance various projects is evaluated. The correlation between the country development level and the industry branches chosen to attract PPP investments is noted. The Russian economy regards as priority areas for PPP implementation the following areas: development of production and transport infrastructure, communal utility branch, health care and social services, financing of scientific researches having prospects for commercialization and development of innovation infrastructure.In using the public-private partnership while maintaining the leading role of the state all the advantages becomes effective. The state is the major initiator and guarantor of national (nationally important) obligations concerning the financing and fulfillment of projects.The attention is drawn to the fact that the Russian Federation lacks the unified federal law on the private-public partnership. Separate provisions governing the PPP are considered It is postulated that for Russia the primary importance bear not the extension of the already implemented PPP mechanisms but rather creating the institutional and regulatory framework which would constitute standards providing the maximal comfort for the sides of the partnership and benefit the public utility of projects planned.

Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:ach:journl:y:2015:id:176

DOI: 10.17073/2072-1633-2013-4-28-32

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