Education Infrastructure Construction PPP Research On Risk Sharing Mechanism

As a new financing mode,PPP has been more and more widely used in the field of public service in China.With the comprehensive promotion of economic development and educational modernization,the demand for educational infrastructure has expanded rapidly.The introduction of PPP into educational infrastructure construction projects has relieved the financial pressure of the government to a certain extent,and also broadened the field of cooperation between the public sector and social capital.Because PPP is in the initial stage in the field of education infrastructure construction,lacking of normative system documents and mature management experience,it will face many complex and diverse risk factors in various stages of the operation process.Whether the risk factors can be reasonably shared directly affects the operational efficiency of PPP projects,and even determines the success or failure of the projects.Therefore,the risk sharing in the PPP of education infrastructure construction has become the focus of discussion among the project participants.Taking the PPP of infrastructure construction in public primary and secondary schools in compulsory education stage as an example,this paper studies the risk sharing of PPP of infrastructure construction in education by means of literature research,investigation and research,empirical research and qualitative and quantitative methods.Firstly,according to the financing structure of PPP and the characteristics of education infrastructure construction PPP,the main risk-sharing bodies of the project are determined,which are government departments,social capital,contractors,financial institutions and insurance institutions.According to the process of risk identification,expert investigation method and work breakdown structure method are used to identify the risk factors of PPP in education infrastructure construction.Secondly,through literature review and interviews with relevant policy documents and PPP project managers,the most critical factors affecting the effect of risk sharing are identified and a risk sharing index system is established,including five first-level indicators and 12 measurement indicators.On this basis,the grey relational analysis method is used to establish the risk sharing model and get the result of risk sharing.Taking the PPP project of education infrastructure construction in Urumqi Hi-tech Zone in 2017 as an empirical case,this paper verifies the scientificity and effectiveness of the risk sharing model.Finally,according to the PPP of education infrastructure construction,the risk sharing mechanism is designed.According to the risk sharing process and the risk sharing model,the identified risk factors in the PPP of education infrastructure construction are shared and the risk sharing scheme is designed.Then it designs risk sharing system from two aspects of behavior orientation and behavior domestication system,incentives and constraints on the behavior of risk-sharing subjects from the institutional level,and formulates corresponding measures to ensure the effective implementation of the results of risk sharing.