Financial management of creative clusters on the principles of public-private partnership

The subject of the study is the methods and tools for managing the finances of creative clusters. The object of the study is the clusters created on in different regions of the Russian Federation. The aim of the study is to scientifically justify the application of public-private partnership agreements by entities in the creative industries when interacting with authorized government bodies regarding the use of state property and budget funds. The relevance of the study is due to the high need to develop scientific foundations for the functioning of creative clusters. Relatively new legislative norms on creative industries need to be supplemented in order to achieve synchronicity and completeness of regulatory provisions. The subject area of the research includes public-private partnership instruments that need to be projected at the legislative level onto creative industries, combining the economic and legal specifics of the issue. The research required the use of general scientific methods: induction and deduction, analysis and synthesis, abstraction and analogy. However, the main results were obtained using specific scientific methods dictated by the specifics of the issues at hand: comparative and systemic analysis, legal analysis, structural-logical analysis, and specific techniques from regional studies (most notably, the method of zoning). The scientific novelty of the research lies in the development of a number of definitions and conceptual provisions for the implementation of public-private partnership principles in the activities of creative clusters and their regulatory consolidation. The results of the study are highlighted as follows: - an authorial approach to defining the concepts of 'finances of the creative cluster' and 'management of finances of the creative cluster' has been formulated; - an analysis of the sources of funding for the activities of creative clusters has been conducted, including the peculiarities of foreign experience, which collectively served as a basis for developing proposals to improve the methods of financial management of entities in the creative industries based on the principles of public-private partnership; - schemes have been developed that reflect the essence of the financial and property conditions for agreements between entities in the creative industries and the state under various models of public-private partnership; - proposals have been submitted to the current legislation that expand the possibilities for incorporating legally established principles of public-private partnership into the activities of creative clusters. The conclusions and results have practical value for economically active entities in the creative industries, authorised and advisory government bodies for the purpose of developing government policy for investment, sectoral and regional development.

financial management, creative cluster, finances of the creative cluster, entities of the creative cluster, sources of funding, public-private partnership, concession, funding entity, entities of the Russian Federation, investments