保障性住房PPP项目的融资模式及资金运作研究

发布时间：2019-01-14 08:47

【摘要】：随着我国人口的快速增长，居民的住房需求也日益增加，城镇居民收入差距不断扩大，市场失灵导致房价高涨，大部分中低收入家庭面临“住无所居”的困境，因此，保障性住房是我国政府面临的首要任务。而资金严不足、建设规模受限制是保障房发展的主要障碍，因而需要吸纳更多的投资主体，拓宽融资渠道，加快建设和供应。本文引入PPP模式，在现有的政策和制度框架下，对保障性住房PPP项目的融资模式，以及项目建设运营过程中的资金运作问题进行了研究，，致力于解决私人部门投资积极性不高的难题，对民间资本进行正确引导。首先从PPP模式和保障性住房的相关理论出发，分析PPP模式应用于保障性住房项目的可行性；然后分别为三类保障性住房选择适宜的融资模式并设计相应的运作流程，对主要风险因素进行识别，从而制定合理的风险分配方案，结合相关研究和实际情况制定了一套激励机制；此外，全方位分析实施中将会遇到的问题，并建立了相关的运行保障；结合现有研究以及实际情况分析保障性住房的定价机制；最后以辽宁省某廉租房项目为背景展开案例分析，详细阐述PPP模式在保障性住房项目中的适用性和可行性，为将来的实践提供有价值的参考依据。保障性住房PPP项目的应用研究，既有丰富保障性住房融资模式的理论意义，又具有减轻政府财政负担，提高保障性住房供应效率和质量，解决中低收入者住房问题的现实意义。
[Abstract]:With the rapid growth of population in our country, the housing demand of residents is also increasing day by day, the income gap of urban residents is widening, the market failure leads to the house price rising, and most middle and low income families are faced with the dilemma of "living without a place to live". Affordable housing is the primary task facing our government. However, the shortage of funds and the limitation of construction scale are the main obstacles to indemnificatory apartment's development. Therefore, it is necessary to absorb more investment subjects, broaden financing channels, and speed up construction and supply. This paper introduces the PPP model, under the existing policy and system frame, studies the financing mode of the PPP project of the indemnificatory housing, as well as the question of the fund operation in the construction and operation of the project. We are committed to solving the problem of low investment enthusiasm of the private sector and giving proper guidance to private capital. Firstly, from the view of PPP model and the theory of indemnificatory housing, the feasibility of applying PPP model to affordable housing project is analyzed. Then choose the appropriate financing mode for three kinds of affordable housing and design the corresponding operation flow to identify the main risk factors so as to formulate a reasonable risk allocation scheme. Combined with the relevant research and the actual situation to establish a set of incentive mechanism; In addition, the problems that will be encountered in the implementation are analyzed in all directions, and the relevant operation guarantee is established, and the pricing mechanism of the indemnificatory housing is analyzed in combination with the existing research and the actual situation. Finally, taking a low-rent housing project in Liaoning Province as a case study, the applicability and feasibility of PPP model in affordable housing project are expounded in detail, which provides a valuable reference for the future practice. The research on the application of the PPP project of indemnificatory housing is not only of theoretical significance but also of practical significance to lighten the financial burden of the government, to improve the efficiency and quality of the supply of affordable housing, and to solve the housing problems of the middle and low income group.
【学位授予单位】：天津大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F299.23

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