The Influence Of PPP Equity Transfer Mode On Chinese Airports' Efficiency

Recent year,China release the limit of private sector invest infrastructure,for the reason of alleviating the public financial pressure,and encourage the investment from private sector.As an effective mode of combining public and private sector,PPP(public-private partnership)mode come into being.However,most people attach importance to the financing function of PPP mode,ignoring the function of improving infrastructure's efficiency.This paper research the impact of PPP mode to infrastructure,from theoretical and empirical perspective.Equity transfer mode is the best representative of PPP mode's partnerships,risk sharing and revenue sharing.This paper chooses it as a representative of PPP mode,and select 4E-level airport as sample.Evaluating quasi-public goods by technical efficiency is an appropriate way,because of its social benefits and economic benefits.By using quasi-natural experiment occurring in Chinese 4E-level airport,this paper estimates the policy effect of equity transfer mode,in the way of difference-in-difference.The results show that equity transfer mode significantly improve the efficiency of 4E-level airport.This paper research the impact of efficiency from PPP mode,instead of traditional way.And this paper use panel date to doing empirical research,instead of case study.