ابزار مالی مناسب برای مشارکت عمومی - خصوصی در اتحادیه اروپا
|کد مقاله||سال انتشار||مقاله انگلیسی||ترجمه فارسی||تعداد کلمات|
|3548||2012||6 صفحه PDF||سفارش دهید||محاسبه نشده|
Publisher : Elsevier - Science Direct (الزویر - ساینس دایرکت)
Journal : Procedia Economics and Finance, Volume 3, 2012, Pages 800–805
European Union aims to increase the use of public-private partnership to achieve sustainable economic growth and to respond to the needs of European level, particularly to accelerate the development of trans-national infrastructure. Due to the economic and financial crisis caused a decrease in appetite for investment, but also due to risk-averse of the private sector, high value projects and the prolonged period of revenue return, the European Union seeks to give an impulse to public-private partnership projects by financial instruments. Thus, this paper aims to present the most appropriate financial instruments developed by the European Union that can be used in public-private partnership projects and analyze their influence on the use of these projects.
The issue of innovative financing instruments is not recent, as innovative financing instruments falls in the 2007-2013 financial programming. Despite this fact, the impact and role that they can play in the increase of the public-private partnership usage degree is not taken into account in the literature. This analysis is necessary because it is important to take into consideration all the factors that can have as effect the increase of the public-private partnership usage degree. The mobilization of financial resources and experimenting new combination methods of the public and private finances and creating new innovative financial investment instruments, including through partnerships between the private and public sectors is important because it contributes to the sustainable economic growth and the sustainability of public finances, European Committee, 2010. On the other hand, Member States are experiencing the emergence of new problems, such as sovereign debt crisis, which affects even more the ability to invest of the public sector and to meet the challenges it faces, Freshfields Bruckhaus Deringer, 2011. Thus, the analysis of the innovative financing instruments issue is important to determine the role they had in carrying out the investments at the European Union level and how they will be adapted in the future multi-annual financial programming to meet the challenges that both the European Union and its Member States face. This paper will be based on a practical approach and will involve a thorough analysis of the community legislation, various documents of the European Committee, European Investment Bank and case studies made at the community level.
نتیجه گیری انگلیسی
partnership projects by decreasing the bank credit offer and other credit forms, but also by damaging the financial conditions for the credit of these projects. In this regard, the European Union aims to reach the priorities established by creating a frame that will encourage the implementation of investments through publicprivate partnerships. The innovative financing instruments do not aim to replace grant financing, but, according to the financial instrument that has been used, to make the project more viable, to ease the access to credits, to assure technical assistance. At present, there is no record of a bigger number of public-private partnership projects that use both innovative financing instruments or structural funds, due to both the increased difficulty degree to combine private ,public resources and the European Union's funds but also to the lack of specific human resources capabilities inside the public sector. Also, the public-private partnership projects involve community financing and can be negatively perceived because of the rigorous compliance of the community procedures. The impact that the innovative financing instruments had both on the economy of member states and on public-private partnership projects is hard to analyze at present. It can be analyzed only at the end of the 2007-2013 multi-annual financial programming, but even this will be hard because they are managed at national level and there is no community stipulation that mentions the necessity of this report. Despite this, to promote their use in public-private partnership projects, the development of a good set of practices is needed, that it is able to be reproduced at large scale, as well as offering a long term assistance by the European Expertise Centre in the public-private partnership domain.