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International Experience and Russian Practice

Alexander Andryakov ()

Finansovyj žhurnal — Financial Journal, 2018, issue 6, 59-70

Abstract: This study discusses only one aspect of the public-private partnership (PPP), namely contingent government liabilities of PPP projects. PPP is long and widely used mechanism for infrastructure development in the world. An extensive international experience and recommendations for accounting, reporting, budgeting and managing contingent government liabilities of PPP projects are available to experts and professionals. Russia has relatively recently begun to use PPP mechanism and issues of PPP contingent government liabilities have not been widely discussed in the literature. The author presents a comparison of international experience and Russian practice in dealing with PPP contingent government liabilities, which shows that all these liabilities except state guaranties on private party debt are excluded from budgetary process and management in Russia. It is only partly due to the budget accounting on cash basis adopted in Russia, because international experience presents a variety of mechanisms to overcome problems of this particular accounting system.

Keywords: public-private partnership; contingent government liabilities; implicit government liabilities; budget accounting (search for similar items in EconPapers)
JEL-codes: H41 H43 H54 (search for similar items in EconPapers)
Date: 2018
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DOI: 10.31107/2075-1990-2018-6-59-70

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Finansovyj žhurnal — Financial Journal is currently edited by Vladimir S. Nazarov

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