Research On The Incentive Mechanism Of PPP System Project Of Infrastructure Projects

Infrastructure projects is the strong supporting of economic development in China,however,as the demand of infrastructure,relying on government investment,Infrastructure projects has been unable to meet all the requirements for the construction of infrastructure.One reason is that the government's financial capital is limited,and the local government debt crisis is increasingly serious,the second reason is as demand increases,the difficulty of the infrastructure also increases increasingly,the government's efficiency on operation is far less than the market,By introducing PPP mode,government departments can make a establish cooperation relationship to the private sector,and absorbing social funds,making large funding to achieve the optimal value,giving full play to the advantages of the private sector,which is a trend of infrastructre projects.In this paper,the incentive mechanism of the PPP mode in infrastructure projects are studied by literature-reviewing and the methods of mathematical modeling,the following main results are obtained.(1)this paper first introduced the selected topic background and significance,analyzed the infrastructure and the theory of incentive mechanism,then based on this theory,analyzing the incentive question of the PPP mode,the problems includes:incentive regulation failure,incentive regulation is not comprehensive enough and the private sector efforts.(2)this paper through to the PPP infrastructure projects involved in the main body to carry on the analysis,the identification for the cause of the interests,analyses the root causes of moral problems,and demonstrates the applicability of the principal-agent theory in the PPP project incentive problems.(3)based on the principal-agent theory,and established a general principal-agent incentive model and infrastructure PPP projects based on fairness preference dominant incentive model,and carried on the comparative analysis between the two.The government departments to motivate,how to use the model to the private sector to ensure the completion of this project.(4)the implicit incentives based on the theory of the reputation model was established,by inference and calculation,it is concluded that the private sector in cooperative and non-cooperative case of optimal choice,and prove that the introduction of external incentive mechanism,the commitment to the private sector can be enhanced,and the benefits of the public sector will be multiplied.Finally,put forward infrastructure PPP projects based on the theory of the reputation of the recessive incentive measures to guarantee required.This paper the role of theoretical guidance for the practical application of the project.