Research On PPP Cooperation Mode And Its Aapplication In The "Belt And Road"

Recent years,the global economy shows a trend of multi-polarization.The world is in constant change both politically and economically.It has become crucial to achieve the Chinese nation's bright prospect on the road to revival that we conform to the trend,promote the diversification of China's economic and trade,reduce our reliance on the Western developed countries,and improving China's governance and voice in the international order.Under the circumstances,the Belt and Road Initiatives was proposed.Since then,it has been widely concerned by the government,scholars and so on.Infrastructure construction is the cornerstone of the development of B&R and global interconnection.It has important strategic value for promoting China's in-depth opening up and improving the integration of China's economy and the global economy that domestic companies are guided to actively involve in B&R and take on infrastructure construction projects in those countries.PPP(Public-Private-Partnership),is a model of cooperation of government and social capital to provide public goods or services,which play an important role in the infrastructure construction.Those countries along the B&R are generally disadvantaged in their economy and their governments are not capable of funding those infrastructure construction projects,therefore,PPP has great potential in by directing social capital to work with the governments.Meanwhile,by redirecting unused capital to infrastructure construction of B&R,the efficiency of capital is promoted and reliable channel of foreign investment is created.Therefore,PPP has both important theoretical and practical significance.Therefore,this paper integrates PPP with B&R in its research.This paper first analyzes the background,concept and fundamental theory of PPP model and B&R,and proposed the importance and applicability of the integration of the two.Secondly,this paper analyzes the current appliance of PPP to the B&R,select typical cases to summarize,and propose five factors that will influence the implementation of PPP in the countries along B&R.Finally,this paper proposed application suggestions based on the empirical analysis results.This paper is based on practices and empirical analysis of influencing factors and comes to the conclusion that in general,both the number of PPP projects and the amount of PPP projects contracts are significantly positive correlated with the government resource constraints,potential market size,macroeconomics environment political environment and social legal system.The correlation is robust.Furthermore,the research discovers that the correlation of the number of PPP projects and the amount of PPP projects contracts and government resource constraints,potential market size,macroeconomics environment,political environment and social legal system in different areas are different.This paper has following innovations.First of all,this paper uses practical cases to support its research.It integrates the obstacles during the construction to the application of PPP to B&R infrastructure construction projects.Secondly,this paper summarizes,quantifies and empirically analyzes those factors,tests the significance of the variables,conducts robust test,and further explores neighborhood effect.Third,this paper put forward operational suggestions specified to macroeconomics,industries and private sectors,to guide PPP to better apply to B&R infrastructure construction projects.Meanwhile,this paper also has the following research deficiencies.First,there are limited practices,cases and data related to B&R.Second,China is currently in the initial stage of PPP application to the countries along B&R therefore systematic theories have not been established.Looking forward,in the background of the B&R,applying PPP to infrastructure construction projects can not only alleviate the shortage of government fund and improve local people's livelihood,but also help to dissolve domestic production capacity,improve the efficiency of resource allocation and improve social and economic benefits of the project.This paper is dedicated to researching the influences of PPP projects and putting forward some application proposals,which has extensive theory and application value.Furthermore,this subject will be specified and perfected in the future,which will facilitate and promote the development of B&R.