本文關(guān)鍵詞： 政府融資 PPP Shapely值法 融資風(fēng)險　出處：《云南大學(xué)》2016年碩士論文　論文類型：學(xué)位論文

【摘要】：為發(fā)展地方經(jīng)濟(jì),地方政府不斷投資基礎(chǔ)設(shè)施的建設(shè),從而使得地方政府債務(wù)不斷的擴(kuò)張,以至于到了風(fēng)險難以控制的地步。正是為了緩解地方政府債務(wù)過重及地方財政困難的局面,中央政府近年出臺了一系列的融資政策,其中PPP便是得到廣泛運用的一種新型的投融資模式。經(jīng)研究分析,本文認(rèn)為PPP是指政府、社會企業(yè)(營利企業(yè)或公益企業(yè))依據(jù)某項工程產(chǎn)生的互惠互利的合作形式,基于合作各方產(chǎn)生“1+12”的效應(yīng)的現(xiàn)代融資模式,特點是合作者分擔(dān)投資、風(fēng)險、責(zé)任和收益。本文闡述了地方政府PPP融資模式的背景及國內(nèi)外研究現(xiàn)狀,以我國地方政府PPP融資模式的推廣及PPP融資模式的發(fā)展階段分析入手,分析了當(dāng)前地方政府對于PPP模式的運用情況。在此基礎(chǔ)上,利用NPV—Shapely結(jié)合法就典型案例——重慶地鐵三號線、國家體育館項目的PPP合作模式進(jìn)行分析,采用NPV進(jìn)行分析得出初始公私雙方的利益分配,接著使用修正后的Shapely值法進(jìn)行計算,得出公私雙方博弈后的利益分配方案。若公私雙方的利益符合“1+12”,則說明采用PPP模式后項目實現(xiàn)了資源的最優(yōu)配置；若“1+1=2”則說明采用PPP模式后,公私雙方任何一方的收益沒有得到有效的增長,不適宜采用該模式,并通過科學(xué)的分析找出在項目實施過程中存在的問題,以小見大,可折射出地方政府在采用PPP模式中會出現(xiàn)的問題�；诔晒褪〉膬蓚€案例的分析及我國的自身國情的考量,為保證地方政府PPP融資模式的能夠健康運行,應(yīng)做到政府、法律、項目管理、配套設(shè)施四大層面的完善,在政府層面要做到明確角色分工、強(qiáng)化契約精神、加強(qiáng)風(fēng)險防范,在制度層面要完善法律法規(guī)、健全監(jiān)督機(jī)制,在項目自身層面要建立風(fēng)險分擔(dān)機(jī)制、完善定價機(jī)制、優(yōu)化審批程序,在配套建設(shè)層面要設(shè)立專業(yè)管理機(jī)構(gòu)、培養(yǎng)專業(yè)型人才,以促進(jìn)PPP模式的優(yōu)勢發(fā)揮,為我國地方政府進(jìn)一步采用PPP模式創(chuàng)造良好的環(huán)境,為相關(guān)政府部門管理地方債務(wù)、合理運用PPP模式提供政策參考。
[Abstract]:In order to develop the local economy, local governments continue to invest in the construction of infrastructure, so that local government debt continues to expand, To such an extent that the risks are beyond control. It is precisely in order to alleviate the situation of local governments' excessive debt and local financial difficulties that the central government has issued a series of financing policies in recent years. Among them, PPP is a new type of investment and financing mode, which is widely used. Through research and analysis, this paper thinks that PPP is a mutually beneficial cooperative form produced by government, social enterprise (profit enterprise or public enterprise) according to a certain project. Based on the "112" effect of the partners, the modern financing model is characterized by the partner sharing investment, risk, responsibility and income. This paper describes the background of the local government PPP financing model and the current research situation at home and abroad. Based on the promotion of PPP financing mode of local government and the analysis of the developing stage of PPP financing mode, the paper analyzes the application of PPP mode to local government at present. On this basis, the typical case of Chongqing Metro Line No. 3 is analyzed by using NPV-Shapely combination method. The PPP cooperation mode of the National Gymnasium Project is analyzed, the benefit distribution of the initial public and private parties is obtained by using the NPV analysis, and then the modified Shapely value method is used to calculate, The benefit distribution scheme after game between public and private parties is obtained. If the benefit of both public and private parties is in line with "112", then the optimal allocation of resources is realized after adopting PPP mode, and if "11 / 2", it shows that after adopting PPP mode, the optimal allocation of resources is realized. The benefits of either party have not been effectively increased, so it is not appropriate to adopt this model, and through scientific analysis to identify the problems in the implementation of the project, through a small part of the overall, Based on the analysis of two cases of success and failure and the consideration of our own national conditions, in order to ensure the healthy operation of the local government's PPP financing model, the government should be achieved. In order to perfect the four levels of law, project management and supporting facilities, we should make clear the division of roles at the government level, strengthen the spirit of contract, strengthen the prevention of risks, perfect laws and regulations and perfect the supervision mechanism at the system level. In order to promote the advantage of PPP model, we should set up risk sharing mechanism, perfect pricing mechanism, optimize examination and approval procedure, set up professional management organization and train professional talents at the level of supporting construction. It can create a good environment for local government to adopt PPP model, and provide policy reference for relevant government departments to manage local debt and use PPP model reasonably.
【學(xué)位授予單位】：云南大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2016
【分類號】：F283
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本文編號：1510626