The Comparative Research Of Infrastructure Financing

The financial crisis and European debt crisis happened in2008and2009havecaused great impaction on the global economy, therefore, countries of the worldmake great efforts to revitalize the domestic economy, the development ofinfrastructure has become one of the effective ways to solve the problem. At presentcountries around the world are facing with huge infrastructure needs, both developedand developing countries are actively expanding the infrastructure construction. Ourcountry is no exception,"The1025planning outline" proposes guarantee andimprovement of people’ livelihood in the outstanding position, and put forward thebasic requirements and goals about "sustainable basic public services" and "equalaccess to basic public service". The service needs the existence of the carrier, so theinfrastructure construction must be an important content of economy construction inthe future. Because Infrastructure construction with large-scale investment、longcycle、 lagging earnings plus Infrastructure’s products or services of publicitycharacteristics, so it is always overall controlled by the government, But by thegovernment, the power is not enough, so there is an problem of money insufficiency,So developing the infrastructure financing has become the most urgent task.This article make an comparison between domestic and abroad study ininfrastructure financing, and we can be more profound understanding of China’sinfrastructure financing status and also can learn from foreign advanced experience offinancing to develop country’s infrastructure. This paper make a comparison fromthree aspects and the object of comparison is divided into four regions:Europe、Asia、Africa and China. First we compare infrastructure present situation and capitalresources, through the comparative analysis found that infrastructure developmentand financing source has a very close relationship. The higher the proportion ofprivate money, the better development of infrastructure; The second part is thecomparison of infrastructure financing mode, Through the comparison of the fourregions, found the main financing way has two kinds: the government financing andcapital market financing, and and the country capital market financing ratio is higher in some country whose infrastructure development is better;The last part is thecomparison of infrastructure financing influence factors.this paper establish twomodels that contain developed country and developing country. There are threefactors: gross domestic product, financial income and the proportion in the totalamount of s stock trading-GDP ratio, the dependent variable is infrastructureinvestment. The results of regression testing show that the three factors andinvestment have significant correlation.Through the comparison of the three aspects of the study, this paper has concludedthat China’s infrastructure financing needs to continue to develop capital marketfinancing and introduce the developed countries’ new financing way-PPP projectfinancing for expanding China’s infrastructure financing development space.