Public-Private Partnership as a Tool for the Formation of a Cluster-Based Economy

Abstract

The article is dedicated to applying Public-private partnership (PPP) as a tool for the formation of a clusterbased
economy, ensuring the actions of the main actors of the economic system - government and business community
- on priority stimulation of the creation and development of clusters with a view to the socio-economic development of
the region. The advantages of using the public-private partnership mechanism are maximizing the economic effect
while minimizing risks due to the use of the strengths of the participants in public-private projects; increasing the
quality of management decisions made in the implementation of joint projects due to the professionalism of the private
side and taking into account the social importance of projects by the public side; the growth of trust between business
and society due to the recognition of its role in solving regional and national problems; the growth of trust between
business and government through the joint solution of problems on the basis of transparency.
The research examined the problem of the possible implementation of the institution of public-private partnerships in
the practice of implementing cluster projects and cluster initiatives. The goal of the research is to assess the role of
PPP in cluster projects, to form an institutional model of public-private partnership clustering, to evaluate the practice
of implementing cluster projects in the PPP system, and to identify priority forms of PPP in a cluster-based economy.
There are used such methods as documentary and statistical analysis, expert survey, modeling.