Concession as the form of implementation of public-private partnership projects: the general description of accounting object

• Main Author: V.V. Kovalchuk
• Format: Article
• Language: Ukrainian
• Published: Zhytomyr State Technological University 2019-03-01
• Series: Вісник Житомирського державного технологічного університету: Серія: економіка, управління та адміністрування
• Subjects: concession; public-private partnership; lease; joint activity; concession agreement; accounting object
• Online Access: http://ven.ztu.edu.ua/article/view/163074/162738
• ISSN: 2617-5630; 2617-5630

The article explores the reasons for the emergence of the need for public-private partnership. The study found out that the most important reason was the existence of a gap between the public tasks that were set and the resources available in the state, as well as the limited availability of certain objects to the private sector. The research of scientific works on the approaches to the definition of the term «public-private partnership» is conducted, which allows to highlight the peculiarities of public-private partnership. The forms of realization of public-private partnership projects are considered, and special attention is paid to such a form as a concession. The foreign experience of using concession agreements is investigated. The study of the essence of the concept of «concession», showed that in modern literature there is no single approach to the definition of "concession", in scientific literature, this concept is interpreted ambiguously. The article explores the main advantages for the state and private partners in concluding a concession contract, which may include: attracting additional investments and resources to the public sector, shifting the main risks to the private sector, while retaining state-owned objects that are transferred to the concession.