| PPP,the abbreviation of Public-Private Partnership,means that government departments allow social capital to participate in providing public products and services by cooperating with social capital.PPP can take advantage of limited social resources more effectively and bring benefits to social capital while fulfilling government function.At present,China is undergoing an important strategic opportunity period for the development of economy and society.The construction of new-type urbanization public and investment in public infrastructure have brought huge demand for financing,but the state regulates the financing mechanism of local government debt financing so that traditional financing methods was tightened constantly,as Chinese economy slows down.It is imperative that government departments give a full play to PPP with the contradiction of huge demand for financing and shortage of financial funds.Since the third plenary session of the 18th Communist Party of China central committee clearly put forward that social capital should be allowed to participate in urban infrastructure investment and operation projects,PPP has obtained a good opportunity of rapid development.Chinese scholars have also studied PPP from different levels and perspectives.But in general,for one thing,it's limited that the research on PPP in the light of concrete conditions of our country;for another,the most of research of Chinese scholars are qualitative analysis.Therefore,this paper analyzed the spatial spillover effects of PPP in China from the perspective of quantitative analysis so as to provide importance basis for the widespread use of PPP in the field of infrastructure and public services.Firstly,this paper expounded the connotation of PPP and spatial spillover effects,and elaborated the relevant theories of the study on PPP.Secondly,it analyzed the mechanism of spatial spillover effects of PPP in China from the three aspects of government department,social capital and general public.Thirdly,it used spatial econometric model to conduct an empirical analysis on the spatial spillover effects of the amount of PPP financing of Chinese 31 provinces in 2015.This paper obtained the following main conclusions:(1)The amount of PPP financing had the significant positive spatial spillover effects,at the provincial level domain.The growth of the amount of PPP financing in one region wasn't only affected by relevant factors in the region,but also affected by the increase of the amount of PPP financing in neighboring areas.There were the significant bandwagon effects on the development of PPP among 31 provinces,which resulted in a competition for the development of PPP.(2)Gross domestic product had a significantly positive correlation with the amount of PPP financing.The higher level of economic growth in a region,the stronger public demand for public infrastructure and the greater demand for the projects of PPP.(3)Fixed asset investment had a significantly positive correlation with the amount of PPP financing.The higher fixed asset investment,the more conducive it is for social capital to make long-term investment decisions of the projects of PPP.(4)The general financial expenditure budget of local government had a significantly negative correlation with the amount of PPP financing.The.smaller budget the government can spend,the stronger demand for the projects of PPP.Finally,in order to promote the better development of PPP in China and maximize positive effects of spatial spillover effects of PPP.This paper has specifically put forward some countermeasures in the light of the national conditions of China,from the three perspectives of government department,social capital and social public. |
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