MECHANISMS OF PUBLIC-PRIVATE PARTNERSHIP PROJECTS MANAGEMENT: REGULATORY FINANCIAL ANALYSIS (CASE OF UKRAINE)

The article analyzes the dynamics and structure of financing public- private partnership (PPP) projects in terms of investment sectors. It has been determined that the PPP project management mechanism in Ukraine took place in four stages. Starting from the beginning of 2016, a new cycle has begun, characterized by the resumption of funding for PPP projects and upward dynamics after a significant decline in 2016-2017. Significant growth occurred in 1993, 2001, 2011, when long-term energy projects were invested. The dynamics did not have a clear trend and systematic character for the period 1994-2000, 2002-2010, after 2012. A number of trends of PPP management mechanism in Ukraine based on econometric analysis have been identified. It is determined that Ukraine is characterized by a decrease in public financing of infrastructure due to the increase of investments of private investors in the objects. The decrease in accumulated capital due to investments in PPPs causes the government to underfund PPP projects in the future as a result of the increase in funding of PPP projects in past periods. Increase in 1 unit of Public-Private Partnership (PPP) capital stock results in a decrease in General Government capital stock of 3.81 units. Private sector accumulated capital is characterized by a negative feedback on the financing of PPP projects in Ukraine, indicating that if the private sector is provided with the capital to provide the necessary volumes of goods production, private investors will not be interested in infrastructure development. PPP financing mechanisms for the period 1990-2017 in Ukraine did not provide economic growth, and therefore a general conclusion can be drawn about their inefficiency.