Financial mechanism of public-private partnership: a review of the concept of process and normative approaches

Abstract

The article covers the conceptual principles of the development of process and normative approaches. Given that the process approach is based on the concept of «process», its role in the activities of the subjects of economic relations is determined. It is proved that achieving the desired result of functioning of the financial mechanism of public-private partnership provides a normative approach. The advantages of the normative approach, which include: the target orientation of the investigated mechanism, methodical simplicity and sufficient technological development of standards, are outlined. It is concluded that the choice of methodological approaches depends on the effectiveness of building a certain model of the financial mechanism of public-private partnership, which should take into account cost optimization, efficient and high-quality provision of services to society.