PUBLIC-PRIVATE PARTNERSHIP and ITS IMPACT on the REGIONAL ECONOMY: The EXPERIENCES of the REPUBLIC of KAZAKHSTAN and TURKEY

Abstract

The relevance of this article lies in the fact that, today, investments are necessary for a timely response to market changes. The purpose of this paper is to study the experience of the public-private partnership and its impact on the regional economy in Kazakhstan and Turkey. Within the framework of this study, a scientific approach was used with general as well as special scientific methods – in particular, systematization, theoretical generalization, and a comparative method. An analysis of the impact of public-private partnership on the economy of the region and the experiences of the Republic of Kazakhstan and Turkey was carried out, which allowed for the identification of further directions for the development of the use of this tool to attract private investments for regional development. The impact of the development of public-private partnerships on the economies of these territories was determined, and the main directions for improving the development of this instrument in relation to these territories were identified. The authors found that different methods of public-private partnership are used within different regions, and regulation of these areas is also carried out in different ways. The applied value of this research lies in the possibility for more effective use of this instrument of interaction between public bodies and business entities for the development of individual territories. © 2021 Mykolas Riomeris University. All rights reserved.