地区市场化进程会促进地方政府选用PPP模式融资吗？--基于基础设施领域的实证研究  

Will the Regional Marketization Process Promote the Use of PPP Financing by Local Governments?——An Empirical Study Based on Infrastructure Areas

作　　者：王卓君 郭雪萌 李红昌 

机构地区：[1]北京交通大学经济管理学院 [2]北京交通大学研究生院 [3]北京交通大学经济管理学院经济系

出　　处：《财政研究》2017年第10期54-64,91,共12页Public Finance Research

基　　金：中央高校基本科研业务费专项资金资助项目“地区市场化进程、地方政府选用PPP融资模式与PPP模式供给效率”(2017YJS076)

摘　　要：本文基于市场化进程视角,以2000-2015年我国基础设施领域各地方政府PPP投资为样本,研究地方政府选用PPP模式融资与市场化进程以及地区和行业属性的关系。研究发现:市场化进程对于地方政府在基础设施领域选用PPP模式融资有着积极的促进作用,加入地区属性后的进一步研究表明,东部地区市场化进程对于地方政府在基础设施领域选用PPP模式融资促进作用明显,中西部地区市场化进程作用不显著。另外,在考虑行业属性后的研究表明,垄断程度低的行业,市场化进程对地方政府在基础设施领域选用PPP模式融资有着积极的促进作用,垄断程度高的行业,市场化进程作用不显著。本文认为,市场化进程作为重要的市场环境,对地方政府在基础设施领域选用PPP模式融资有着正向的促进作用,为我国PPP融资模式在基础设施领域的推广以及为地方政府选用PPP模式进行融资的行为提供了理论上的依据。Based on the perspective of marketization, using the sample of local governments＇ PPP investment in the field of infrastructure in China from 2000 to 2015, this paper analyzes the relation between local government＇s financing choice of PPP model and marketization and regional or industry attributes. We find that marketization has a positive effect on local government＇s financing choice of PPP mode in the field of infrastructure, and after considering regional attributes, further studies indicate that the effect in eastern region is obvious and is not significant in central and western regions. In addition, after considering industry attributes, we argue that the effect is positive in low degree of monopoly industries and is not significant in high degree of monopoly industries. In conclusion, as an important market environment, marketization has a positive effect on local governments＇ financing choice of PPP mode in the field of infrastructure, which provides a theoretical basis for the development of PPP financing model in China and local governments＇ financing choice behavior.

关 键 词：市场化进程 地区和行业属性 PPP 基础设施领域 

分 类 号：F812.7[经济管理—财政学]