Studies On Investing And Financing Way Of Infrastructure Based On Theory Of Project Distinction

Urban infrastructure is the carrier and security of development of national economy, also is the necessary premise of economic growth. The further socialist market economic system reform requires to break the traditional urban infrastructure investment and financing system, and the correct attribute is crux of urban infrastructure investment and financing system reform. Project distinction theory emphasizes the project attribute decides investment subject, operation mode, access to capital and ownership rights and interests.Mainly based on the theory of project distinction, the article distinguishes attributes of six types of urban infrastructure which are water resources and water supply and drainage system, transportation system, post and communication system, urban ecological system and urban disaster prevention system. There exist many traditional and innovative financing modes, which are applicable to different projects. Theoretically, public welfare project is most suitable for financial capital and endogenous financing ways, while projects which can use market capital have more space to develop. But actually, when using investing and financing methods, all kinds of project have some troubles, such as government management mode, tax system and the pricing system, etc. The empirical results of the study show that public capital used in the construction of infrastructure and economic growth have not reached the optimal matching condition. The output elasticity of public capital is lower than social capital, and the former has some extrusion utility to the latter. To solve the problem of all kinds of projects, and put forward the investment and financing methods to operate effectively, make some suggestions. They mainly include improving fiscal system, perfecting the franchising system, perfect pricing system, and deepening the degree of marketization, etc. ?...