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Features of Interaction of Business and Government in the Form of Public-private partnership

Features of Interaction of Business and Government in the Form of Public-private partnership

Journal of Economic Regulation, , Vol. 7 (no. 4),

Today modernization of relations between the government and the business sector is an important issue particularly relevant in the context of financial globalization in the transition to a market economy. The paper discusses the theoretical concept of public-private partnership, as a form of business organization, combining the functional features of an independent firm or companies and the government, which implementation is caused by the need to ensure the production of the most important benefits in various areas, as well as the features of the interaction of business and government. It is proposed to highlight the definition of public-private partnerships in the form of a special system of relations of economic agents, as well to determine the required features that separate this form of interaction as a partnership from other forms of interaction. Also the authors consider a system of public-private partnership in terms of coordination of joint relations between the government and business, try to identify the basic principles of interaction between the participants, identify their main advantages that each of the participants in the partnership seeks to contribute to the joint project, and identifiess areas to support sustainable development the country's economy. The paper describes the problems associated with the implementation of projects in the public-private partnership system and suggests ways to improve them, discusses the main advantages and disadvantages of such members, as the government and business.

Keywords: government; business; partnership; entrepreneurship.

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