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宋顺锋、Zhongqi Deng和Yongjun Chen合作论文“Private Participation in Infrastructure Project and Its Impact on the Project Cost”发表于国际期刊CER第39卷,63-76,2016年 发布时间:2017-08-28  浏览次数:

宋顺锋Zhongqi DengYongjun Chen合作的论文Private Participation in Infrastructure Project and Its Impact on the Project Cost发表于国际期刊China Economic Review39卷,63-762016

摘要:While public–private partnerships (PPPs) have become an increasingly popular approach in both developed and developing countries, very little is known about whether or not PPPs are more efficient than pure-public or pure-private modes. Building on some recent work studying PPP issues this paper improves the understanding of public–private capital structures, provides some theoretical considerations as well as empirical evidence that private participation affects PPPs cost through the knowledge-transfer effect and the cost-increase effect, and demonstrates a U-shaped relationship between the project costs and private shares. Empirical analysis also finds that the private shares in China's infrastructure PPPs are excessive, and BOT (build, operate, and transfer) projects, compared to other PPP types, are not efficient in China.

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