我国地方政府PPP融资模式研究

发布时间：2018-02-14 11:41

  本文关键词： 政府融资 PPP Shapely值法 融资风险　出处：《云南大学》2016年硕士论文　论文类型：学位论文

【摘要】：为发展地方经济,地方政府不断投资基础设施的建设,从而使得地方政府债务不断的扩张,以至于到了风险难以控制的地步。正是为了缓解地方政府债务过重及地方财政困难的局面,中央政府近年出台了一系列的融资政策,其中PPP便是得到广泛运用的一种新型的投融资模式。经研究分析,本文认为PPP是指政府、社会企业(营利企业或公益企业)依据某项工程产生的互惠互利的合作形式,基于合作各方产生“1+12”的效应的现代融资模式,特点是合作者分担投资、风险、责任和收益。本文阐述了地方政府PPP融资模式的背景及国内外研究现状,以我国地方政府PPP融资模式的推广及PPP融资模式的发展阶段分析入手,分析了当前地方政府对于PPP模式的运用情况。在此基础上,利用NPV—Shapely结合法就典型案例——重庆地铁三号线、国家体育馆项目的PPP合作模式进行分析,采用NPV进行分析得出初始公私双方的利益分配,接着使用修正后的Shapely值法进行计算,得出公私双方博弈后的利益分配方案。若公私双方的利益符合“1+12”,则说明采用PPP模式后项目实现了资源的最优配置；若“1+1=2”则说明采用PPP模式后,公私双方任何一方的收益没有得到有效的增长,不适宜采用该模式,并通过科学的分析找出在项目实施过程中存在的问题,以小见大,可折射出地方政府在采用PPP模式中会出现的问题。基于成功和失败的两个案例的分析及我国的自身国情的考量,为保证地方政府PPP融资模式的能够健康运行,应做到政府、法律、项目管理、配套设施四大层面的完善,在政府层面要做到明确角色分工、强化契约精神、加强风险防范,在制度层面要完善法律法规、健全监督机制,在项目自身层面要建立风险分担机制、完善定价机制、优化审批程序,在配套建设层面要设立专业管理机构、培养专业型人才,以促进PPP模式的优势发挥,为我国地方政府进一步采用PPP模式创造良好的环境,为相关政府部门管理地方债务、合理运用PPP模式提供政策参考。
[Abstract]:In order to develop the local economy, local governments continue to invest in the construction of infrastructure, so that local government debt continues to expand, To such an extent that the risks are beyond control. It is precisely in order to alleviate the situation of local governments' excessive debt and local financial difficulties that the central government has issued a series of financing policies in recent years. Among them, PPP is a new type of investment and financing mode, which is widely used. Through research and analysis, this paper thinks that PPP is a mutually beneficial cooperative form produced by government, social enterprise (profit enterprise or public enterprise) according to a certain project. Based on the "112" effect of the partners, the modern financing model is characterized by the partner sharing investment, risk, responsibility and income. This paper describes the background of the local government PPP financing model and the current research situation at home and abroad. Based on the promotion of PPP financing mode of local government and the analysis of the developing stage of PPP financing mode, the paper analyzes the application of PPP mode to local government at present. On this basis, the typical case of Chongqing Metro Line No. 3 is analyzed by using NPV-Shapely combination method. The PPP cooperation mode of the National Gymnasium Project is analyzed, the benefit distribution of the initial public and private parties is obtained by using the NPV analysis, and then the modified Shapely value method is used to calculate, The benefit distribution scheme after game between public and private parties is obtained. If the benefit of both public and private parties is in line with "112", then the optimal allocation of resources is realized after adopting PPP mode, and if "11 / 2", it shows that after adopting PPP mode, the optimal allocation of resources is realized. The benefits of either party have not been effectively increased, so it is not appropriate to adopt this model, and through scientific analysis to identify the problems in the implementation of the project, through a small part of the overall, Based on the analysis of two cases of success and failure and the consideration of our own national conditions, in order to ensure the healthy operation of the local government's PPP financing model, the government should be achieved. In order to perfect the four levels of law, project management and supporting facilities, we should make clear the division of roles at the government level, strengthen the spirit of contract, strengthen the prevention of risks, perfect laws and regulations and perfect the supervision mechanism at the system level. In order to promote the advantage of PPP model, we should set up risk sharing mechanism, perfect pricing mechanism, optimize examination and approval procedure, set up professional management organization and train professional talents at the level of supporting construction. It can create a good environment for local government to adopt PPP model, and provide policy reference for relevant government departments to manage local debt and use PPP model reasonably.
【学位授予单位】：云南大学
【学位级别】：硕士
【学位授予年份】：2016
【分类号】：F283
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本文编号：1510626