PUBLIC-PRIVATE PARTNERSHIP AS AN ANTI-RECESSIONAL SERVICE

Authors

  • Жељана Јовичић, M.Sc. Senior Assistant, Faculty of Economics, University of Banja Luka

Keywords:

public-private partnership, recession, public wealth, public sector, private sector, risks, project finance, public debt

Abstract

Because of the budgetary limitations the Republic of Srpska is faced with, there ought to be an approach to practicing innovative management of public finances, such as public-private partnership as a non-fiscal instrument in the financing of public needs. Anti-recessional actions are pointed towards short tearm and long term activities whose goal is economical growth, infrastructural development, reaching social objectives and giving better public service to the citizens. A restricted budget cannot provide with these means, despite the reduction it pays for government administrations and material proceedings. In the aim of overcoming the differences between public resources at hand and the necessary capital for investments, the government is approaching partnership between public and private sectors more often. The model in which the public and private sectors act together and in harmony has a contract or institutional form, which offers an innovative and dinamic approach to managing risks and uncertainities that follow long-term investments. Public - private partnership is a common name for different types of partnership in the realisation of projects, defined by complex contracts. This way of including the private sector in financing, projecting, constructing and managing public sector projects is a complex process that lasts longer than the traditional. The initial expenses of preparation and planning are much greater for all involved. On the other hand, the pros offered by the lightening of the operating budget of the state and the decrease of risk to the public sector, make public - private partnership an acceptable instrument for financing projects of public value.

Downloads

Download data is not yet available.

References

Abadie, R. and Howcraft, A.: "Developing public private partnership in New Europe", PriceWaterhouseCoopers, 2004.

Akintoye, A., Beck, M., Hardcastle, C.: "Public - private partnerships; Managing risks and opporunities", Blackwell Scientific Publications, Oxford, 2003.

Annexes part IV to ESA, 2004.

Atkinson, R.: "Project management: cost, time and quality, two best guesses and a phenomenon, its time to accept other success criteria", International Journal Project Management, vol. 17, No. 6, 1999.

Bailey, S. J.: "Public sector economics", Macmillan second edition, London, 2002.

Blackwell, M.: "The PFI/PPP and property", Chandos Publishing Ltd., Oxford, 2000.

Commission of European Communities: "Green paper-on public private partnerships and community law on public contracts and concessions", Commission of European Communities, Brussels, 2004.

Davies, P., Eustice, K.: "Delivering the PPP Promise- A review of PPP issues and activity", PriceWaterhouseCoopers, 2005.

Ђуричин, Д.: "Управљање помоћу пројеката", ЦИД Економског факултета у Београду, Београд, 2005.

EC DG for Economic and Financial Affairs: "Public finances in EMU, No.3", European Commission Directorate-General for Economic and Financial Affairs, Brussels, 2004.

Epstain, P.: "Government service effort and accomplishment performance reports: a guide to understanding", GASB, Norwalk, 2005.

European Commission - Theme 2, Economy and Finance: "Dugoročni ugovori između vladinih institucija i nevladinih partnera (javno-privatno partnerstvo)", EK, 2004.

Eurostat, European Commission, decree stat/18/2004.

Green paper on public-private partnerships and community law on public contracts and concessions, 2004.

Guidelines for successful public - private partnerships, 2003.

Гулија, Б.: " Јавно-приватно партнерство", Euroscope, Билтен Европског документационог центра, Додатак бр. 73/04, 2004.

IFAC- PSC: "Research report - International IPSAS-s and statistical bases of financial reporting; An analysis of differences and recommendations for convergence", New York, 2005.

Иванишевић, М.: "Пословне финансије", Економски факултет, Београд, 2008.

Јуричић, Д.: "Економија јавно-приватног партнерства", Економски преглед, 59(7-8) 452-468, Загреб, 2008.

Марењак, С. и остали,: " Јавно-приватно партнерство и његова примјена у Хрватској", Часопис "Грађевинар" број 59, Загреб, 2007.

Марењак, С.: "Јавно приватно партнерство за јавне грађевине у Републици Хрватској, Хрватска удруга послодаваца, 2006.

Микеревић, Д.: "Стратешки финансијски менаџмент", Економски факултет, Бањалука и Финрар, 2005.

"Међународни рачуноводствени стандарди за јавни сектор", превод СРР Србије и СРР Републике Српске, Београд, 2007.

National Council for Public - Private Partnerships: "Critical choices: The debate over public- private partnerships and what i means for America's future", Washington D. C. 2003.

OECD: "Best practices for budget transparency", 2001.

OECD: "Models of public budgeting and accounting reform", OECD journal on budgeting, 2002.

Орсаг, С.: "Буџетирање капитала. Процјена вриједности инвестицијских пројеката", Масмедиа, Загреб, 2002.

Ровчанин, А.: "Управљање финансијама", Економски факултет, Сарајево, 2006.

Родић, Ј., Филиповић, М.: "Пословне финансије", Београдска пословна школа, Београд, 2008.

Scott, J. T.: "Cost-benefit analysis for global public-private partnerships: an evaluation of the desirability of intergovernmental organizations entering into public-private partnerships", Springer Science+Business Media, LLC, 2009.

Services directive (92/50/EEC)

Supplies directive (93/36/EEC)

Штиглиц, Ј.: "Економија јавног сектора", Економски факултет, Београд, 2004.

Tomassi, D., Allen, R.: "Managing public expenditure - A reference book for transition countries", OECD, 2001.

United Nations Economic Commission for Europe (UN/ECE): "Guidelines on public private partnerships for infrastructure development", ECE/TRADE/NONE/2000/8.

Utilities directive (93/38/EEC)

Voss, Ј.: " Political Risk Management in the Former Soviet Union and Black Sea Economic Cooperation", International Low Congress, 2000.

Works directive (93/27/EEC)

http://pppue.undp.org/toolkit/MOD120.html

http://www.fon.bg.ac.yu

http://www.ipma.ch

http://www.pmi.org

http://www.senet.org

http://www.yupma.org.yu

Downloads

Published

2010-06-30

How to Cite

Јовичић, Ж. (2010). PUBLIC-PRIVATE PARTNERSHIP AS AN ANTI-RECESSIONAL SERVICE. Acta Economica, 8(12), 325–341. Retrieved from https://ae.ef.unibl.org/index.php/AE/article/view/201

Issue

Section

Review article

Most read articles by the same author(s)