我国基础设施资产证券化变通模式的分析与选择  

Analysis and Selection of the Models of Infrastructure Asset Securitization in China

作　　者：戴晓凤[1] 伍伟[1] 吴征[1] 

机构地区：[1]湖南大学金融学院,湖南长沙410079

出　　处：《财经理论与实践》2006年第2期11-15,共5页The Theory and Practice of Finance and Economics

基　　金：教育部人文"十五"规划课题资助项目(01JA790019)

摘　　要：基础设施资产证券化模式选择是决定证券化技术解决城市开发建设融资瓶颈问题成败与否的关键。依据证券化模式选择的原则,在目前我国提出的三种变通模式中,以国有资产管理公司设立SPV的方案既符合资产证券化的条件,也能够满足证券化主体收益最大化所要求的资产规模和持续期,是目前法律框架下的最优选择。Infrastructure asset securitization is introduced as a function to overcome fund shortage for cities＇ development. The sticking point for the success of the function relies on the selection of the model of infrastructure asset securitization. Among the three main models in China, being the optimal selection, the one to realize securitization through setting - up of SPV by state asset management companies is not only contented with the terms of securitization, but also satisfied with the asset scale and duration for the maximization of the benefit of the main bodies of the securitization.

关 键 词：基础设施资产证券化 SPV变通模式 最优模式 

分 类 号：F830.91[经济管理—金融学]