PPP模式推广困难原因探析与对策建议.pdfVIP

中国人民银行工作论文 No.2016/2 PBC Working Paper No.2016/2 2016 年3 月8 日 March 8,2016 PPP 模式推广困难原因探析及对策建议 崔晓芙 崔 凯 徐红芬 李金良 王 燕 崔二涛1 摘要：地方政府先后推出了许多PPP 示范项目，但推广运用进度低于预期。从微 观视角研究发现，当前PPP 项目签约率低存在三个方面的原因：一是项目自身原 因：PPP 项目具有融资规模大、项目周期长、风险收益匹配难、资产专用性强、 交易成本高等特征，决定了推广运用PPP 模式需要一定的时间和过程；二是相关 主体原因：PPP 项目相关主体的行为趋同性不够，尚未形成比较一致的共识；三 是内在原因：PPP 项目相关主体行为受路径依赖制约，在信息不对称的前提下契 约非完备性属性使相关主体之间存在信任问题。本文在对国内外PPP 实践进行研 究的基础上提出，完善的法律法规、合理的风险分担机制、专业的管理机构以及 严密的监管体系是PPP 项目成功的关键。本文最后为加快推广运用PPP 模式的进 度提出了若干政策建议。 Abstract: The government has provided trillions of PPPs at present, but the progress is lower than the expected. From the micro-aspect research, there are three reasons lead to low success rate of PPPs. Firstly, the PPPs’ financing scale is big, project cycle is long, risk matches return difficultly, asset specificity is strong, transaction cost is high, which determine the PPPs would spend more time and process. Secondly, the relevant subjects of PPPs behavior convergence is not enough, and has not formed consensus agreement. Thirdly, the relevant subjects have not enough enthusiasm to participate in PPPs because of asymmetric information, path dependence, incomplete contracts and lack of trust each other. Foreign and domestic practical experience shows that perfect unity laws and regulations, scientific and reasonable risk sharing mechanism, efficient and professional management institutions, and strict regulatory system are crucial to the success of the PPPs. Finally, we give some recommendations to speed up the PPPs progress. 关键词：PPP 模式；签约率低；原因探析；对策建议 声明：中国人民银行工作论文发表人民银行系统工作人员的研究成果，以利于开展学术交 流与研讨。论文内容仅代表作者个人学术观点，不代表人民银行。如需引用，请注明来源 为《中国人民银行工作论文》。 Disclaimer: The Working Paper Series of the Peoples Bank of China (PBC) publishes research reports written by staff members of the PBC, in order to