INSTITUTIONAL AND INVESTMENT APPROACH TO THE HARMONIZATION OF INTERESTS OF PARTICIPANTS OF CITY`S HOUSING AND COMMUNAL SERVICES MARKET

Series "Economy": Economic and legal problems of city development

Abstract

The article explores the interests of the participants of city’s housing and communal services market (HCS market) and gives grounds for using the institutional and investment approach to their harmonization. It was determined that the market segment of city’s sphere of housing and communal services has specific features that affect the process of regulation and interaction of market participants. These features are the unevenness of the relationship between potentially competitive and natural monopoly segments, the imperfection of pricing methodology, the non-price elasticity of demand for a service that depends not on its quality but on the level of solvency of the population. The city’s market of housing and communal services is regulated in accordance with some principles. These principles include the following: balanced interests of market participants, social orientation, legal security, demonopolization, development of competition, transparency of tariff policy, minimization of risks, fulfillment of obligations, protection of the population, and support to small and medium-sized business. The key principle is to ensure the balance of interests of participants of city’s HCS market in the process of its functioning and development. The main participants of city’s HCS market (the state, local self-government bodies, enterprises of municipal economy) are characterized in the article, as well as their functions and interests. The grounds are given in favour of the institutional and investment approach that promotes the balance of interests of participants of city’s HCS market. It involves forming the institutional conditions for realizing investment opportunities of HCS market participants in the projects of modernization of city’s housing and communal infrastructure. The investment opportunities of participants of city’s HCS market include: the state and local budget funds, the investment component of the tariff for utility services, household and business funds. The institutional conditions presuppose the existence of the institutions regulating the interaction of participants of city’s HCS market (the legal regulation of condominium associations, management companies, and public-private partnerships). The proposals on the use of tools of harmonization of interests have been developed for the participants of city’s HCS market when implementing investment projects. Further research should be aimed at expending the investment opportunities for the participants of city’s HCS market.

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