Public-private partnership development: An institutional analysis of infrastructure project transaction costs

Abstract

Subject. This article discusses the role of the private sector of the economy in the development of regional infrastructure. Objectives. The article aims to define and disclose the functions of the institutional environment of public-private partnership. Methods. For the study, we used general scientific research methods. Results. The article describes the functions of the institutional environment of public-private partnership and their content. The article also presents a classification of transaction costs and the concept of an online platform that helps solve various problems of the development of public-private partnership in the Sverdlovsk Oblast. Conclusions. Institutional and budget constraints hinder the unlocking of the private sector's potential in the development of regional infrastructure.