The Study Of Public-Private Partnerships Cooperative Management Mode In China Municipal Infrastructure

Urban infrastructure,government and social capital cooperation mode is a revolution in China's infrastructure system arrangements,is to emphasize the control of local government debt,activate the power of social capital,promote the background of supply side reforms set off a infrastructure and public services revolution.The unique characteristics of infrastructure make it fall into the dilemma of public and enterprise.It is also a game between the government and the social capital in the field of infrastructure.With the economic and social development,maintain public system arrangement has become increasingly difficult and urban infrastructure show a steady income and cash flow abundant characteristics.In nowadays market real estate investment has been the golden period,the stock market is in a downturn in the market economy environment,for those who seek stable return on social capital investment in infrastructure has strong appeal.So in the government financial resources to sustain the conditions,the vast number of users demand and private sector investment impulse joint director of government and social capital as the main content of the institutional change.The essence of the government and social capital mode of cooperation is give full play to the government(public sector and private sector their endowment advantage,taking into account the efficiency and fairness of the complementary cooperation,the core is the construction of public-private partnership,how to establish effective cooperation mode and incentive mechanism is the core.In this paper,based on the above background,the government and social capital cooperation projects governance and incentive mechanism design as the theme,from the following chapters discussed:The first chapter is the introduction part.It introducts the background and analyzes the basic situation of promoting the practice and project operation of government and social capital cooperation pattern in urban infrastructure of China under the background of acceleration of urbanization process and deepening of investment and financial mechanism reform.The research on application forms,management pattern and project governance mechanism of government and social capital cooperation pattern in urban infrastructureis combed and reviewed.The breakthrough point on practical and theoretical level of the research is put forward.On the basis,the research ideas and technical route is then proposed.The second chapter introduces the core definition and related theory of the paper.At first,the connotation,characteristic and classification of urban infrastructure is defined,and it prepares for the following analysis on governance mechanism of infrastructure with different nature project.Then the discussion on the connotation of government and social capital by international agencies,nations and scholars is introduced,and our own definition is given.The advantages and limitations of government and social capital is also analyzed.Then there are the main theoretical content and basic conclusions on public goods supply theory,pricipal-agent theory and mixed ownership theory.The third and fourth chapter are the part of current research.The third chapter introduces the practice and exploration of urban infrastructure with government and social capital cooperation on both international and national level.The fourth chapter is on the analysis of investment and financial structure and constrction level of urban infrastructure in China.The investment and financial structure is analyzed on aggregate investment,investment structure and sources of funding.The construction level is analyzed on indexs,such as urban water supply,gas supply,public transportation and andscaping.The fifth chapter is the empirical part.Based on the time series data of urban infrastructure construction and development in China from 1981 to 2014,with data envelopment analysis and regression analysis,the "input-output" efficiency of urban infrastructure investment and the efficient differences of different kind of capital in infrastructure construction is measured and tested seperately.The results show that investment promotes the output efficiency of urban infrastructure,but it differs with investment structure.The self-raised funds and other funds play a significantly better role in it.And the domestic loan follows.The role of bonds and foreign investment is not fully embodied.And the role of the central and local finance allocates are both not obvious.Focus on the problems existing in government and social capital cooperation,the sixth chapter optimizes the organization and governance structure of government and social capital cooperation project based on the principal-agent theory and the property right configuration model.The interests,rights configuration,the risk of moral hazard and the behavior boungdaries of each participation is analyzed in order to find the path to realize the pareto improvement of project goals.To promote the project goes efficiently,the mechanism of government and social capital cooperation project in infrastructure with different nature project which balanced each participations' interests is proposed.And at last,several typical case analyses are used to explain.The seventh chapter is countermeasures and suggestions.Facing all participations in government and social capital cooperation structure,such as supervision and management departments,social investors,financial institutions,the countermeasures and suggestions of promote and optimize government and social capital management is proposed from aspects,such as cultivating the spirit of contract,optimizing supervision pattern,innovating project organization and property right configuration,choosing projects,controlling risks.