Research On The Crowding-out Effect Of State-owned Enterprise Investment On Private Investment Based On The PPP Model

Since the reform and opening up,China's economic development is more and more dependent on investment promotion,investment is a part of the " troika" can not be ignored.At the same time,China's private investme nt has gradually developed,occupies a pivotal position in China's investment,and has the omen of surpassing the government investment,in the country's total investment share is rising.Therefore,the vitality of private investment is an issue that we mu st pay attention to.In recent years,with the continuous reform of fiscal and taxation policy system,the cooperation between social capital and government capital advocated by PPP model is an important way to stimulate the vitality of private investment and explore the sources of funds for infrastructure and social services.governments in various regions should pay attention to,promote and supervise the implementation and implementation of PPP projects." allowing social capital to participate in the investment and operation of urban infrastructure through franchising" is an important concept put forward by the third plenary session of the eighteenth session,which is an important measure to enhance the vitality of private capital.However,in fact,most private enterprises are deterred from PPP projects.the purpose of PPP model is to attract social capital into public utility projects,but the state-owned enterprises occupy the role of social capital in PPP projects.Economists in various countries have been paying close attention to the influence of government on macro-control.As far as China's national conditions are concerned,the state-owned enterprise's holder is the government,and inevitably becomes an effective way for the government public se ctor to realize its functions and policies.State-owned enterprises as social capital to join the PPP project,and with its advantages and private enterprises competition.Then,under PPP mode,the extrusion effect of state-owned enterprise investment on private investment has become the object of this paper.Based on the previous research on the extrusion effect and PPP model,combined with China's specific national conditions,this paper defines the basic concepts of state-owned investment,private investment,extrusion effect and PPP model,and analyzes the current situation of PPP projects in China from early 20 13 to the end of 2017,using eviews software to carry out regression analysis,and using unit root test and cointegration test to verify the stability of the regression model,from both long-term and short-term perspective to investigate the extrusion effect of PPP projects on private investment by Chinese enterprises.According to the above analysis combined with China's current situation,to solve the problem of private capital in PPP project " cold" put forward relevant countermeasures and suggestions,put forward the need for state-owned enterprises to drive private enterprises to participate in PPP project,the coordinated development of the two.