PPP (Public-Private Partnership) Project Investment Scale Research

PPP(Public-Private Partnership)is also known in China as a public-private partnership.It refers to a model in which the public and private sectors cooperate in the provision and operation of public goods and services.The private sector is also the social capital side.Its advantages in capital advantages and management capabilities are used to alleviate the government's financial pressure and burden,and improve the supply efficiency of public goods and services.At the same time,the PPP model also stimulates investment and promotes Employment and the ability to improve government services and their own regulatory levels.Based on the development history of PPP in the world and China,this paper is based on the project data published by the Ministry of Finance's PPP service platform,the wind database and the data published on the website of the National Bureau of Statistics.Socioeconomic statistics,detailed statistical descriptions and empirical quantitative analysis of the development of China's PPP project investment scale.This article consists of six parts in total.The first part introduces the background of the topic and the significance of the topic.Then,the related literatures at home and abroad were reviewed,and the research progress and research hotspots at home and abroad were described and evaluated.The second part describes and combs the PPP model from the definition,the various classification methods and corresponding characteristics,the world scope and the development process in China,and sorts out the PPP related theory.The third part is a descriptive statistical analysis of the scale and status of PPP.The fourth part is the spatial autocorrelation analysis of PPP investment scale.The degree of agglomeration is described by measuring the spatial Gini coefficient and location entropy of PPP investment in 31 provinces and autonomous regions.By calculating the global Moran index,Moran's I is-0.057,and the spatial autocorrelation of PPP investment is tested.It is concluded that the global spatial autocorrelation of PPP project investment is negative in the country,indicating PPP.The area with high investment amount is surrounded by the area with low PPP investment,and the area with low PPP investment is surrounded by the area with high PPP investment;the spatial spillover effect of PPP investment is discussed through local spatial autocorrelation analysis.The fifth part is mainly about the theoretical analysis and index system construction of PPP scale and its influencing factors.Firstly,the influencing factors of PPP scale are discussed in combination with the views of scholars at home and abroad,and three aspects are summarized: economic factors,institutional factors,and social factors.Then combined with the literature and related theories for theoretical analysis,select the influencing factors variables,and build the index system.A total of seven indicators were selected: the degree of marketization,the financial environment,the macroeconomic environment,transportation convenience,financial constraints,the scale of urban investment bonds,and the degree of urbanization.After the model identification,based on 93 data from 31 provinces and autonomous regions in China from 2015 to 2017,a random effect model of short panel data was constructed and variable regression was added.The full sample regression results show that fiscal constraints,financial environment,urbanization rate,and transportation convenience have significant effects on the scale of PPP.The estimation coefficient of fiscal constraint and urbanization rate is negative,indicating that it has a negative impact on the scale of PPP.The estimated coefficient of transportation convenience and financial environment is positive,indicating that it has a positive impact on the size of PPP.Finally,based on the consideration and detection of spatial effects,the spatial cross-section regression of the PPP investment amount and its influencing factors in the provinces in 2017 is carried out.It is found that the financial environment and transportation convenience are still positive on the basis of considering the spatial effects.Factors that affect the size of PPP investment.The research results show that to promote the further development of PPP mode in China,that is,to promote the expansion of PPP scale,we should start from the following aspects.First,reduce the constraints of financial constraints on the development of the PPP model.Second,promote the positive role of finance in the promotion of PPP financing model,let finance better serve the PPP model,and let the PPP model play a role in the innovation and optimization of financing channels.Third,the PPP model is combined with the huge infrastructure needs of urbanization.Fourth,improve the macroeconomic environment to create better conditions for PPP development.The innovation of this paper is to calculate and describe the latest PPP scale in China,and use the latest data to conduct an empirical analysis of its intrinsic factors.