政府部门提高乌拉圭PPP基础设施项目可融资性的保证

发布时间：2018-05-28 16:09

本文选题：公私合作(PPP) + 政府担保　；参考：《清华大学》2014年硕士论文

【摘要】：本文研究根据乌拉圭公私合作(Public Private Partnership,PPP)制度,识别和评估特殊目的载体(Special Purpose Vehicle,SPV)债务融资的政府担保,并分析政府担保与项目可融资性的关系。研究目的是识别可能获得的政府担保,评价它们对不同类型金融机构提供债务融资的影响,综述世界各地政府担保的最佳实践,并就乌拉圭政府如何提高PPP项目的可融资性提出改进建议。所采用的研究方法既包括定性方法,即直接采访PPP相关的公共机构和银行、养老基金和多边发展银行,也包括半定量方法,即通过发放问卷调查表,以确定各种政府担保的重要性指数,分析公共和私人机构如何看待政府担保对解决不同政策、融资和项目风险因素的效果。论文还通过文献综述方法识别出国际上PPP项目中政府担保的发展趋势,并结合前面得出的结论,提出对乌拉圭的政策改进建议。研究标明,乌拉圭PPP项目缺乏有效的政府担保,公共和私人机构均认为同政府担保对利用社会资本的重要性,而且,多个国家的趋势显示,政府担保及其建立的基础设施基金可以提升PPP项目的信用等级,而信用增级措施特别是适当政策框架之外的政府担保有助于利用额外的社会资本和改善公共管理。
[Abstract]:This paper studies the identification and evaluation of government guarantees for special purpose vehicle (Private) debt financing under the public / private partnership (Private) system in Uruguay, and analyzes the relationship between government guarantees and project financability. The purpose of the study is to identify potential government guarantees, evaluate their impact on the provision of debt financing by different types of financial institutions, and summarize best practices in government guarantees around the world, Suggestions on how the Uruguayan government can improve the financing of PPP project are put forward. The research methods used include both qualitative methods, i.e. direct interviews with PPP related public institutions and banks, pension funds and multilateral development banks, and semi-quantitative methods, namely, through questionnaires, To determine the importance of various government guarantees, analyze how public and private institutions view the effectiveness of government guarantees in addressing different policy, financing and project risk factors. The paper also identifies the development trend of government guarantee in international PPP projects by literature review, and puts forward some suggestions for improving the policy of Uruguay in combination with the previous conclusions. Studies have shown that Uruguay's PPP project lacks effective government guarantees, that public and private institutions believe that government guarantees are important for the use of social capital, and that trends in a number of countries indicate that Government guarantees and their infrastructure funds can enhance the credit rating of PPP projects, and credit enhancement measures, especially those outside the appropriate policy framework, help to leverage additional social capital and improve public administration.
【学位授予单位】：清华大学
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：F283

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