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China’s Infrastructure PPP Mode Selection Research From Perspective Of Game Theory

Posted on:2017-01-26Degree:MasterType:Thesis
Country:ChinaCandidate:L LiFull Text:PDF
GTID:2309330485468462Subject:Finance
Abstract/Summary:PDF Full Text Request
Infrastructure is to provide public services for the social production and living materials engineering facilities. Selecting the mode of infrastructure investment and financing is important for improving the efficiency of infrastructure construction, optimizing the allocation of social resources, and promoting social and economic development. For now, as China’s accelerated urbanization, infrastructure investment is expanding, the supply of funds for construction under pressure. PPP (Public-Private Partnership), which can not only solve the funding problem, but also take advantages of the government and the private sector, is gradually extended. However, how to determine the appropriate PPP mode for different infrastructure projects, what measures should be taken to balance the revenue risk, and how to maximize the utility of government, private sector and society, these are important issue to be studied.First, after analyzing infrastructure PPP theory and practice, this paper established a game model of government and private sector, find the mixed strategy equilibrium of different PPP modes (outsourcing, franchising and privatization). Through analyzing from different angles and operator case studies, the author discusses the appropriate modes for different projects, as well as the main factors affect the results. Then, based on the results of the game, the paper uses Chinese infrastructure industry data for a factor analysis and establishes an evaluation system. The results show, common factors are consistent with the game assumptions, the ranking is close to previous research as well as our practice situation. Factor analysis can be an accurate, objective and comprehensive analysis of specific industries and project, provides references for the PPP mode choosing.According to the findings, the paper gives some suggestions on the development of China’s infrastructure PPP mode. In terms of institution building, government should further improve the functions of professional bodies and relevant laws and regulations, strengthen information disclosure. In the mode choosing, it should analysis the characteristics of the project and chose an appropriate mode, design scientific terms of the contract and reasonable risk distribution mechanism. In terms of participants, it requires participants to be clear about boundaries, establish long-term awareness, and relevant agencies should strengthen supervision and management.
Keywords/Search Tags:Infrastructure, PPP, Mode Select, Game, Factot Analysis
PDF Full Text Request
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