資產(chǎn)證券化在交通基礎(chǔ)設(shè)施建設(shè)的應(yīng)用研究
本文選題:交通基礎(chǔ)設(shè)施融資 + 資產(chǎn)證券化。 參考:《中央民族大學(xué)》2013年碩士論文
【摘要】:交通基礎(chǔ)設(shè)施歷來是經(jīng)濟(jì)發(fā)展的先決條件,世界各國都十分重視交通基礎(chǔ)設(shè)施的建設(shè),中國也不例外。我國政府從2001年就開始制定《國家高速公路網(wǎng)規(guī)劃》和《中長期鐵路規(guī)劃》,指導(dǎo)今后二、三十年的鐵路、公路建設(shè),以滿足經(jīng)濟(jì)發(fā)展的需要。但由于交通設(shè)施項(xiàng)目一般以巨額資金為支撐,作為主要資金來源的國家財政資金逐漸下降和銀行貸款的巨大財務(wù)費(fèi)用容易造成交通設(shè)施運(yùn)營公司的虧損的情況下,解決交通基礎(chǔ)設(shè)施建設(shè)資金問題就顯得十分突出,探討新融資方式就具有價值。 為解決交通設(shè)施建設(shè)資金不足的問題,我國近年來引進(jìn)了新的融資方式,例如利用外資、項(xiàng)目融資等。這些新的融資方式在一定程度上緩解了交通建設(shè)資金需求的問題,但這些方式也有適用的范圍和一定的局限性。作為二十世紀(jì)偉大金融創(chuàng)新的資產(chǎn)證券化作為融資的一種新方式,已成為解決我國交通基礎(chǔ)設(shè)施資金需求的一種有效途徑。 交通基礎(chǔ)設(shè)施采用資產(chǎn)證券化融資,可采用的模式有離岸模式、政府主導(dǎo)模式、信托模式、專項(xiàng)資產(chǎn)管理計劃等模式。在這些模式當(dāng)中能夠有效體現(xiàn)交通基礎(chǔ)設(shè)施特點(diǎn)和宜于操作實(shí)施的模式為專項(xiàng)資產(chǎn)管理計劃。因此本文從闡述我國交通設(shè)施建設(shè)融資的現(xiàn)狀出發(fā),論述了資產(chǎn)證券化運(yùn)用到交通設(shè)施建設(shè)的可行性,對比分析了我國目前交通設(shè)施采用的資產(chǎn)證券化幾種常用模式,重點(diǎn)論述了專項(xiàng)資產(chǎn)管理計劃模式特點(diǎn)、在實(shí)際運(yùn)用當(dāng)中出現(xiàn)的問題,并提出進(jìn)一步完善的對策。
[Abstract]:Transportation infrastructure has always been a prerequisite for economic development. Every country in the world attaches great importance to the construction of transportation infrastructure, and China is no exception. Our government has been working out the National Highway Network Plan and the medium and long term Railway Plan since 2001 to guide the railway and highway construction in the next 20 or 30 years to meet the needs of economic development. However, because transportation facilities projects are generally supported by huge amounts of funds, the national financial funds, which are the main sources of funds, are gradually declining and the huge financial costs of bank loans are likely to result in losses of transportation facilities operating companies. It is very important to solve the problem of transportation infrastructure construction fund, and it is valuable to discuss the new financing method. In order to solve the problem of lack of funds for transportation facilities construction, China has introduced new financing methods in recent years, such as the utilization of foreign capital, project financing and so on. These new financing methods alleviate the problem of traffic construction capital demand to a certain extent, but these ways also have the scope of application and some limitations. As a new way of financing, asset securitization, which is a great financial innovation in the 20th century, has become an effective way to solve the capital demand of transportation infrastructure in China. The transportation infrastructure adopts asset securitization financing, which can be used in offshore mode, government leading mode, trust mode, special asset management plan and so on. These models can effectively reflect the characteristics of transport infrastructure and are suitable for operational implementation of the specific asset management plan. Therefore, this paper discusses the feasibility of the application of asset securitization to the construction of transportation facilities, and compares and analyzes several commonly used modes of asset securitization in China. This paper mainly discusses the characteristics of special asset management plan mode, the problems in practical application, and puts forward some countermeasures for further improvement.
【學(xué)位授予單位】:中央民族大學(xué)
【學(xué)位級別】:碩士
【學(xué)位授予年份】:2013
【分類號】:F512.3
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