Study On The Incentive Regulation Of Public Service PPP Project

PPP(Public-Private-Partnerships)is a relationship established by government and social capital participant.A successful PPP project can make full use of social capital funding,alleviate the pressure of the short-term debt of local government,and use the advantage of the Private sector to improve the quality of the construction and operation of the project.Since the eighteenth congress,ministry of finance,the national development and reform commission launched many times to pro mote to the PPP model construction policy of public services.Promoting PPP model in the field of public services is an important reform measure to transform government functions,stimulate market vitality and create new growth points of the economy.In China,because the lack of thorough design of incentive regulation,there are many problems emerged in public service PPP projects such as hard to put into effect,high cost,low profit,low quality of operation,low satisfaction among the public,etc.The success of the public service PPP project need good cooperation from the government and private sector.The main purpose of private sector to participate the PPP project is to maximize its self-interest,which may be at the cost of project quality to ensure its own interests.So figuring out the success of the project of public service mechanism,and design ingreasonable incentive mechanism,can makethe private sector realizeits own interests at the same time guarantee the maximization of social welfare,reduce the problems in the process of implementation.This paper uses critical success factors theory,factor analysis and fuzzy synthetic evaluation method to extract the critical success factors of public service PPP projects.First on 13 domestic case of PPP model in the field of public service,preliminary identified 31 may influence factors in the success of the project,then by way of questionnaire investigate d the relevant personnel in the field of PPP,at last,through data analysis,extract the seven key success factors,and calculated the importance degree of each factor.Combined with seven key success factors,intensive regulationtheory andprincipal-agent theory,a public service project incentive regu lation model in asymmetric information situationhas been established and the solved.Then through analyzing the first derivative and numerical analysis,this paper analyzed the changing rule of the incentive intensityand put forward policy suggestions for the government.Finally,an incentive regulation system on the specific case hasbeen designed,the applicability of the incentive model in specific projects has been analyzed,and these provided the reference for the future ofthe public services PPP projects contract design.