财政政策工具对营利性农村基础设施投融资的作用机理及政策效果  

Mechanism and Effect of Fiscal Policy Tools on Profitable Rural Infrastructure Investment and Financing

作　　者：邝雄[1] 李敏敏 陈霞 Kuang Xiong;Li Minmin;Chen Xia

机构地区：[1]海南大学经济学院 [2]国际财经中心

出　　处：《投资研究》2022年第5期144-160,共17页Review of Investment Studies

基　　金：“十三五”国家重点研发计划“绿色宜居村镇技术创新”重点专项课题四“绿色宜居村镇基础设施配套技术体系研究”(项目编号:2018YFD1100204);2019年海南省基础与应用基础研究计划(自然科学领域)高层次人才项目(2019RC065);国家自然科学基金项目(项目编号:71963011)。

摘　　要：本文首先通过博弈数理模型阐明收益促进型和收益担保型两类财政政策工具对营利性农村基础设施投融资的作用机理,然后采用复杂系统模拟方法,模拟分析单独使用收益促进型政策工具以及搭配使用两类政策工具的政策效果。研究认为,收益促进型工具会同时影响企业投资基础设施的收益和风险,致使不同政策工具在不同政策强度下对农村基础设施投融资产生不同的政策效果;低担保收益率工具的引入对于农村基础设施投融资的作用有限,但高担保收益率工具与收益促进型工具的搭配使用会起到积极作用。Fiscal policy tools are classified into two types: profit-promoted and profit-guaranteed. The mechanism of these two types tools on profitable rural infrastructure investment and financing is clarified by a game mathematical model. Subsequently,the complex system simulation method is used to simulate and analyze the policy effects of using the profit-promoted tools alone and of using both types of tools together. The results show that: the profit-promoted fiscal policy tools affect both the profit and risk of enterprises’ investment in infrastructure;thus, different profit-promoted tools have different policy effects on rural infrastructure investment and financing under different policy strength. The introduction of the low guaranteed rate of return tool has a limited effect on rural infrastructure investment and financing, while the effect of the combination of the high guaranteed rate of return and profit-promoted tools on rural infrastructure investment and financing is positive.

关 键 词：财政政策工具 农村基础设施 投融资 政策模拟 

分 类 号：F320[经济管理—产业经济] F812.8