Adaptability evolution of financing systems of mega projects  

作　　者：Xue YAN Longmiao GAO Huimin LIU 

机构地区：[1]School of Finance,Nanjing Audit University,Nanjing 211815,China [2]School of Management and Engineering,Nanjing University,Nanjing 210093,China

出　　处：《Frontiers of Engineering Management》2021年第2期258-270,共13页工程管理前沿（英文版）

基　　金：This work was part of the research funded by the National Natural Science Foundation of China(Grant Nos.71671088,71841026,71732003,71471082,and 71573037);by the Third Phases of the Priority Academic Program Development of Jiangsu Higher Education Institutions(Su Zheng Ban Made(2018)No.87).

摘　　要：Mega projects require large funding,which often reaches tens or even hundreds of billions of yuan.In the state-oriented financing system,the huge fund gap has generally become an important factor restricting the development of mega projects worldwide.Since the 1980s,China’s long-span bridge projects have developed rapidly as typical mega projects as their financing systems have also undergone a series of changes and shown a high adaptability to complexity.However,the existing literature based on the perspective of evolution lacks focus on the complexity of mega project financing systems and its causes.Therefore,the complexity of the financing methods employed in the financing systems for China’s long-span bridges is analyzed in this work from the dimensions of time and regions through investigation and interviews.On the basis of the results and complex adaptive systems theory,the causes of the complexity are further explored in terms of the clustering effects of financing subjects and the deep uncertainty of financing environments.Then,the evolution rules of financing systems of mega projects are established from the aspect of financing subjects,financing environments,and financing methods.The research results can enrich decision-makers’understanding of the essential attributes and formation mechanism of the financing systems of mega projects and provide powerful support for decision-making in financing.

关 键 词：adaptability evolution financing methods long-span bridges in China mega projects 

分 类 号：F416.9[经济管理—产业经济] F406.7