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Risk assessment of public-private partnership in Russia based on the fuzzy logic method
https://doi.org/10.32609/0042-8736-2020-10-132-143
Abstract
This paper is the first to assess the integral level of risks in public-private partnership (PPP) projects being implemented in Russia, taking into account the stages of project implementation. The results of empirical assessments have shown that the aggregate risk level is now estimated by experts as high. The key risks are incorrect assessment of project parameters, possible change of tariffs as well as risks related to the construction stage and demand for services. The majority of risk factors in PPP projects are of sectoral, project-level nature and are not related to economic, political or legal conditions. The study has shown differences in the structure of risks that partnership subjects are willing to take and transfer to another party, which has allowed to justify the distribution of risks among participants.
Keywords
infrastructure,
public-private partnership,
risk assessment,
fuzzy synthetic evaluation,
risk allocation
JEL: С15, С65, H54, H72, L33, L92, L93, L94, L95, L96, L97, L98.
Supporting agencies: The reported study was funded by RFBR according to the research project No. 2001000828
About the Authors
A. N. Savrukov
JSC Russian Railways;
Financial University under the Government of the Russian Federation
Russian Federation
Moscow
Russian Federation
Moscow
N. Т. Savrukov
Nizhniy Novgorod State Engineering and Economic University
Russian Federation
Russian Federation
Knyaginino, Nizhny Novgorod Region
E. A. Kozlovskaya
Peter the Great St. Petersburg Polytechnic University
Russian Federation
St. Petersburg
Russian Federation
St. Petersburg
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Review
For citations:
Savrukov A.N., Savrukov N.Т., Kozlovskaya E.A. Risk assessment of public-private partnership in Russia based on the fuzzy logic method. Voprosy Ekonomiki. 2020;(10):132-143. (In Russ.) https://doi.org/10.32609/0042-8736-2020-10-132-143
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