政府如何影响PPP项目社会资本投资水平——基于3561个项目的实证研究  

How the Government Affect the Social Capital Investment Proportion in PPP Projects?---An Empirical Study Based on 3561 Projects

作　　者：翟磊[1] 袁慧赟 Zhai Lei;Yuan Huiyun(Zhou Enlai School of Government,Nankai University,Tianjin 300350)

机构地区：[1]南开大学周恩来政府管理学院,天津300350

出　　处：《甘肃行政学院学报》2021年第4期97-110,127,共15页Journal of Gansu Administration Institute

基　　金：国家自然科学基金项目“地方政府PPP项目管理能力评价体系及提升路径”(71704086)。

摘　　要：经过2017—2018年的集中清理整顿,PPP模式在中国迎来了新的发展机遇,但经济下行与疫情叠加导致地方政府财政承受能力空间压缩,如何吸引社会资本投资、提升社会资本投资水平成为进一步发挥PPP模式作用的关键问题。基于财政部PPP项目数据库,将2013—2018年间成立项目公司的3561个PPP项目信息与其所在的城市数据进行匹配,采用Tobit模型进行实证检验,发现政府能力对PPP项目社会资本投资水平的影响总体较合同特征更为显著,其原因主要与PPP项目合同不完全契约属性和合同签订过程中的有限理性有关。因此,地方政府应着力加强财政能力建设,提升PPP项目管理能力,推动PPP项目信息公开化,并出台有针对性的支持政策,从而有效激励社会资本,提升PPP项目的投资水平。After rectification in 2017-2018,the PPP model has entered a new development opportunity period in China.However,the superposition of economic downturn and epidemic situation has led to the decline of financial affordability of local governments.How to attract social capital investment and improve the social capital investment proportion has become a key issue for the development of the PPP model.Based on the PPP project database of the Ministry of finance,the information of 3561 PPP project information of project companies established between 2013 and 2018 were selected.Then,the PPP project information is matched with the data of the cities,and the Tobit model is used for empirical test.It is found that the impact of government capacity on the social capital investment proportion of PPP projects is more significant than the contract characteristics,The reason is mainly related to the incomplete contract attribute of PPP project contract and the limited rationality in the process of contract signing.Therefore,local governments should focus on strengthening financial capacity-building,improving PPP project management capacity,promoting PPP project information disclosure,and issuing targeted support policies,so as to effectively stimulate social capital and improve the investment proportion of PPP projects.

关 键 词：PPP项目 社会资本投资水平 政府能力 合同特征 

分 类 号：F294[经济管理—国民经济] F283