Modeling Public—Private Partnerships in Innovative Economy: A Regional Aspect

Abstract

International experience demonstrates both the effectiveness and difficulties of using the mechanism of a public–private partnership (PPP) in solving socially significant problems of investment development of an innovative economy. The lack of tools to make an informed choice of the best PPP model in terms of the risks diversification is one of the significant problems of the predictive and analytical support of the relationship between business and government structures. The purpose of the study is to create and empirically test a multi-criteria modeling toolkit for the choice of the public–private partnership mechanism in relation to managing territorial sustainable development projects. Such problems as a structural representation of PPP risk factors and development of principles for their diversification, development of the algorithm and criteria for multi-criteria evaluation, testing of a multi-criteria model needed to be solved to achieve the research goal. The innovativeness of the author’s approach consists in substantiating the algorithm of the multi-criteria modeling for the choice of the public–private partnership mechanism in relation to managing sustainable development projects of the territory. Criteria for alternative PPP models evaluating have been developed. Based on the results of testing, the advantages and disadvantages of applying the algorithm of the multi-criteria modeling in sustainable development management are identified, the directions for the model using in regional management are disclosed.

Measuring Territorial Social Responsibility and Sustainability Using the EFQM Excellence Model

“…The SD of regions must allow industries to develop while respecting the ecological and environmental situation of their surroundings and the preservation of the region's resources [29], which can be used for sustainable territorial development [33]. The establishment of public-private partnerships at a regional level can contribute to improving the quality of economic growth [34].…”

Stakeholders of public-private partnerships in Poland: an analysis of an evolving phenomenon

“…PPPs are defined in terms of the cooperation of a public partner and a private one created to attract private investment in the economy and, based on pooling resources, sharing risks (Anopchenko et al , 2019). PPP, in the categories of institutional model of interaction between government and business, is defined (Yatsechko, 2020) as a partnership between the government and the private sector for the provision of public and social goods or services due to its advantages in high efficiency of investment, resource allocation optimization, flexible market mechanisms, etc.…”

Collaborative platforms for emerging technology

“…Second, in terms of institutional change, many genomic and biobank collaborative platforms are seeking forms of sustainability less dependent on public funds, more frequently targeting public-private business models (Ciaburri, Napolitano and Bravo, 2017[47]; Livesey, 2019 [48]; Rao et al, 2019[49]). At play are different aspects of sustainability that operate with different economies of value, from financial models of investment inputs and knowledge outputs to social models built on trust (Andry et al, 2017 [50]). Engaging in greater involvement with the private sector, platform executives must manage and uphold a complex social contract that entails mutual responsibilities across participants, publics, and research institutions.…”