【摘要】：國際港口經(jīng)濟(jì)史上,公共部門負(fù)責(zé)港口基礎(chǔ)設(shè)施融資的公共服務(wù)港長期占據(jù)主導(dǎo)地位。但在20世紀(jì)七八十年代的港口自由化和港口改革浪潮中,以“港口土地租賃”為特征的地主港融資模式,在國際范圍內(nèi)得到了廣泛認(rèn)可并取得了相當(dāng)成功,成為西方港口,尤其是大中型集裝箱港口融資改革的主流模式。在地主港融資模式下,港務(wù)局或政府特許經(jīng)營的公共企業(yè)作為地主,通過將港口土地租賃給港口經(jīng)營者收取租金,實(shí)現(xiàn)港口基礎(chǔ)設(shè)施建設(shè)資金的循環(huán)周轉(zhuǎn)。目前,世界前100大集裝箱港口中絕大多數(shù)為地主港,且許多其他港口正不斷進(jìn)行重組以向地主港模式轉(zhuǎn)型。在中國,以上海港、南通港、廣西欽州港、浙江嘉興乍浦港區(qū)、大連大窯灣北岸港區(qū)和青島董家口港等為代表,國內(nèi)諸多港口也紛紛探索借鑒和實(shí)踐地主港模式,并倡導(dǎo)以此基準(zhǔn),改革中國港口基礎(chǔ)設(shè)施融資模式。 為什么地主港融資模式取代公共服務(wù)港在實(shí)踐中最終取得了廣泛的適用性?這種在世界范圍內(nèi)被廣泛應(yīng)用的港口融資安排,其內(nèi)在的作用機(jī)理如何?在中國現(xiàn)階段的國情特征下,中國目前推廣和實(shí)施的地主港融資模式,很大程度上屬于國際主流地主港模式的一種變體,那么,地主港融資模式在中國的移植嫁接了哪些“中國特征”?中國的地主港融資模式又體現(xiàn)為一種怎樣的作用機(jī)制?研究地主港融資的內(nèi)在機(jī)理,挖掘其內(nèi)在的微觀作用機(jī)制及經(jīng)濟(jì)學(xué)依據(jù),無論對于涉海金融和海洋經(jīng)濟(jì)理論的豐富和完善、租佃理論和土地租賃理論在海洋經(jīng)濟(jì)領(lǐng)域延伸的適用性診斷,還是落實(shí)到作為微觀“地主”的港務(wù)局的具體行為操作以及不同市場環(huán)境和制度條件下港務(wù)局規(guī)制方式的選擇,都具有重要的參考價(jià)值和指導(dǎo)意義。 本文從合約經(jīng)濟(jì)學(xué)的角度解釋地主港的融資機(jī)理問題。在對港口基礎(chǔ)設(shè)施融資理論論爭及歷史發(fā)展脈絡(luò)綜述和評述的基礎(chǔ)上,從歷史視角追溯港口基礎(chǔ)設(shè)施融資理論的演進(jìn)邏輯和地主港融資模式的起源問題；基于國際地主港融資的實(shí)踐經(jīng)驗(yàn)以及合約的產(chǎn)權(quán)特征和訂約雙方的交易行為,考察國際主流地主港融資合約的形式特征和合約選擇問題；進(jìn)而通過合約的激勵(lì)約束機(jī)制分析,考察地主港土地租賃合約的融資治理和最優(yōu)資源配置問題；最后,結(jié)合中國制度環(huán)境下地主港融資模式的變異特征,對中國“準(zhǔn)地主港”融資模式的作用機(jī)制及合約資源配置問題給予理論和實(shí)踐雙重層面的探討。 本文共分七章內(nèi)容。 第一章為引言部分。主要概述本文的基本概念范疇、研究內(nèi)容、研究方法、技術(shù)路線和創(chuàng)新之處。 第二章對國內(nèi)外有關(guān)港口融資和地主港模式的相關(guān)研究成果進(jìn)行綜述和評價(jià)。由于世界不同港口區(qū)位、歷史發(fā)展、制度環(huán)境方而的差異,以及港口融資系統(tǒng)的復(fù)雜性和各項(xiàng)融資方式本身的局限,學(xué)術(shù)界在港口融資模式選擇問題上存在很大爭議。20世紀(jì)70年代以后,政府資本和私人資本合作參與的地主港模式,逐漸成為世界主要港口轉(zhuǎn)型探索的參考模式。但有關(guān)地主港融資的學(xué)術(shù)研究方面較為缺乏,地主港融資的內(nèi)在機(jī)理以及港口土地租賃作為一種新型港口融資方式等方面的問題,缺乏系統(tǒng)的經(jīng)濟(jì)學(xué)研究。 第三章從歷史視角追溯港口基礎(chǔ)設(shè)施融資模式的改革和發(fā)展,以及地主港融資模式的起源問題�；诟劭趯窠�(jīng)濟(jì)和國家海防的戰(zhàn)略重要性和社會福利功能,分析歷史上港口長期由公共資本控制的理論和經(jīng)驗(yàn)證據(jù)：結(jié)合20世紀(jì)中后期國際港口經(jīng)濟(jì)發(fā)展的新環(huán)境,考察新自由主義思想影響下港口改革浪潮和私人資本參與的演進(jìn)邏輯；進(jìn)一步地,從公共資本和私人資本參與港口基礎(chǔ)設(shè)施建設(shè)的爭議中,總結(jié)得出各國港口基礎(chǔ)設(shè)施融資模式選擇的經(jīng)驗(yàn)原則。 第四章從國際地主港融資的實(shí)踐經(jīng)驗(yàn)出發(fā),考察港口土地租賃作為一種港口融資方式的相關(guān)事實(shí)與特征�；谑澜缟喜捎玫刂鞲勰Ｊ竭M(jìn)行港口基礎(chǔ)設(shè)施融資的港口地理分布,概述世界主要地區(qū)地主港融資實(shí)踐和土地租賃情況。在此基礎(chǔ)上,通過對這些港口中“地主”和經(jīng)營者簽訂的“港口土地租賃”合同的具體條款分析,分別從租金、租賃期限、分租、轉(zhuǎn)租與轉(zhuǎn)包和限制性條款等方而,考察地主港融資模式下港口土地租賃合約的特征,為下文對地主港口土地租賃融資合約的經(jīng)濟(jì)分析提供事實(shí)依據(jù)和經(jīng)驗(yàn)基礎(chǔ)。 第五章從合約經(jīng)濟(jì)學(xué)的角度解析地主港模式下的這份港口土地租賃融資合約。在對地主港口土地租賃融資合約的租約形式及不同形式選擇的影響因素分析基礎(chǔ)上,將交易費(fèi)用和風(fēng)險(xiǎn)因素引入港口融資的各種不同合約中,研究港口最優(yōu)融資合約的選擇條件。另外,本章還對交易費(fèi)用和風(fēng)險(xiǎn)對地主港口地租賃融資合約期限選擇的影響進(jìn)行了分析。 第六章在第五章模型的基礎(chǔ)上,通過一個(gè)更為具體的契約形式表述,探討地主港上地租賃融資合約的最優(yōu)配置和合約激勵(lì)問題。通過建立地主港土地租賃融資的單期和多期合約關(guān)系模型,研究不同情形下交易費(fèi)用和風(fēng)險(xiǎn)因素對地主港土地租賃融資合約最優(yōu)配置的影響,以此得到合約同時(shí)滿足地主和承租方利益最大化的最優(yōu)條件。并探討在地主港土地租賃融資合約中,作為地主的港務(wù)局,應(yīng)設(shè)計(jì)一種怎樣的激勵(lì)機(jī)制,來促進(jìn)承租方進(jìn)行港口基礎(chǔ)設(shè)施投資,以為港口提供更多的發(fā)展資金。 第七章承接以上關(guān)于國際主流地主港融資模式的理論和經(jīng)驗(yàn)分析,在對中國地主港融資模式與國際主流地主港融資模式運(yùn)作特征比較的基礎(chǔ)上,考察中國“準(zhǔn)地主港”融資模式中的合約關(guān)系及合約資源配置問題。 最后為結(jié)論部分。 本文研究主要得出以下結(jié)論： (1)地主港本質(zhì)上是一種以土地租賃為媒介連接公共部門和私人部門共同投資港口基礎(chǔ)設(shè)施建設(shè)的融資模式。 (2)不同港口融資模式選擇和地主港土地租賃融資合約的最優(yōu)配置取決于交易費(fèi)用和風(fēng)險(xiǎn)因素的綜合影響：在存在交易費(fèi)用情況下,風(fēng)險(xiǎn)厭惡型的承租者會選擇混合租金的地主港土地租賃融資合約,合約的最優(yōu)配置為港務(wù)局和承租者共同分享收益,共擔(dān)風(fēng)險(xiǎn)。 港務(wù)局最優(yōu)激勵(lì)合約中的分成比例設(shè)置應(yīng)綜合考慮承租者的經(jīng)營能力、努力成本、風(fēng)險(xiǎn)厭惡程度,以及承租者面臨的外生風(fēng)險(xiǎn)等因素。在承租者經(jīng)營效果好、承租者努力需要付出的成本低、風(fēng)險(xiǎn)厭惡程度低和外生風(fēng)險(xiǎn)因素影響小的情況下,港務(wù)局應(yīng)給予承租者較高的租金分成。 (3)地主港融資中土地租賃期的長短主要基于風(fēng)險(xiǎn)和激勵(lì)兩方面的選擇,合約期限的選擇取決于不同期限合約下的交易費(fèi)用比較。 (4)中國目前實(shí)施“準(zhǔn)地主港”融資模式,屬于國際主流地主港融資模式的一種變異形式。這種由國土資源管理部門、港口投資公司和碼頭經(jīng)營者間形成的一個(gè)三方主體參與、雙重委托代理和雙層利潤分配的合約關(guān)系,并非一種理想的港口融資模式,其實(shí)質(zhì)上是一種地方政府依靠土地所有權(quán)完全壟斷港口土地增值收益的資源配置方式,是與地主港融資模式的實(shí)施初衷,即吸引私人部門資金,激勵(lì)其共同參與港口基礎(chǔ)設(shè)施建設(shè)相悖的。 與以往研究相比,本文的創(chuàng)新之處主要體現(xiàn)在： 第一,結(jié)合國際地主港融資實(shí)踐的運(yùn)行特征,考察一個(gè)與陸域土地租賃不同、基于農(nóng)地租佃和陸域其他土地租賃功能擴(kuò)展的港口土地租賃融資的合約特征,并以此為基礎(chǔ),將其納入到合約經(jīng)濟(jì)學(xué)的分析框架下加以解釋。 第二,根據(jù)不同港口融資方式的合約特征以及行為主體的目標(biāo)差異,將租佃理論的分析框架擴(kuò)展到公共服務(wù)港和地主港等不同港口融資方式代表的多種合約情形下,形成一個(gè)多合約條件選擇下資源配置比較分析及最優(yōu)資金配置模式求解的理論框架。 第三,基于港口土地租賃融資資金特殊的流轉(zhuǎn)特征以及合約經(jīng)濟(jì)主體的行為特征,分別構(gòu)建了具有激勵(lì)約束功能的單期和多期地主港口土地租賃融資的合約關(guān)系模型,從而給予地主港融資模式的內(nèi)在作用機(jī)理以經(jīng)濟(jì)學(xué)解釋。該融資合約關(guān)系模型的參照意義在于,其可以通過在中國條件下的推廣“及均衡態(tài)分析,用于診斷中國雙重利潤分配下“準(zhǔn)地主港”融資模式的合約資源配置問題。
[Abstract]:In the history of international port economy, public service ports, which are responsible for financing port infrastructure, have long been dominant. However, in the wave of port liberalization and Port Reform in the 1970s and 1980s, the financing mode of landlord ports characterized by "port land lease" has been widely recognized and achieved comparative results in the international community. As a result, it has become the mainstream mode of financing reform in Western ports, especially in large and medium-sized container ports. Most of the top 100 container ports are landlord ports, and many other ports are being restructured to transform into landlord ports. Practice the landlord port mode, and advocate this benchmark to reform the financing mode of China's port infrastructure.
Why has the landlord port financing mode replaced the public service port in practice and ultimately achieved a wide range of applicability? What is the internal mechanism of this kind of port financing arrangement which is widely used in the world? Under the current situation of China, China's current promotion and implementation of the landlord port financing mode, to a large extent, belongs to. A variant of the international mainstream landlord port model, then, what "Chinese characteristics" have been grafted into the landlord port financing model in China? What kind of mechanism does China's landlord port financing model embody? Studying the internal mechanism of landlord port financing, excavating its internal micro-mechanism and economic basis, no matter for The enrichment and perfection of the theories of ocean-related finance and ocean economy, the diagnosis of the applicability of the theories of tenancy and land lease in the field of ocean economy, the concrete operation of the port authority as a micro-landlord, and the choice of the regulation modes of the port authority under different market environments and systems all have important implications. Value and guiding significance.
This paper explains the financing mechanism of the landlord port from the perspective of contract economics. On the basis of reviewing and commenting on the theoretical debates and historical development of the port infrastructure financing, it traces the evolution logic of the port infrastructure financing theory and the origin of the financing mode of the landlord port from the historical perspective. Practical experience, property right characteristics of the contract and transaction behavior of the two sides of the contract are used to study the form characteristics and contract selection of the international mainstream landlord port financing contracts; then through the analysis of incentive and restraint mechanism of the contract, the financing governance and optimal resource allocation of the landlord port land lease contracts are investigated; finally, combined with the Chinese system. The variation characteristics of the financing mode of the landlord port under the environment are discussed theoretically and practically on the mechanism of the financing mode of the quasi-landlord port and the allocation of contractual resources in China.
This article is divided into seven chapters.
The first chapter is the introduction. It mainly summarizes the basic concepts, research contents, research methods, technical routes and innovations of this paper.
The second chapter reviews and evaluates the research results of port financing and the mode of landlord port both at home and abroad. Due to the differences of different port locations, historical development, institutional environment, the complexity of port financing system and the limitations of various financing modes, academia has a lot to do with the choice of port financing mode. Since the 1970s, the landlord port mode in which government capital and private capital cooperate has gradually become a reference model for exploring the transformation of major ports in the world. There is a lack of systematic economic research.
Chapter 3 traces the reform and development of port infrastructure financing model from a historical perspective, and the origin of the landlord port financing model. Based on the strategic importance of ports to the national economy and national coastal defense and social welfare functions, this paper analyzes the theoretical and empirical evidence that ports have been controlled by public capital for a long time in history: in combination with the mid-20th century and post-20th Century In the new environment of international port economic development, this paper investigates the evolution logic of Port Reform and private capital participation under the influence of neo-liberalism; furthermore, from the controversy of public capital and private capital participating in port infrastructure construction, it summarizes the empirical principles of port infrastructure financing mode selection in various countries.
Chapter Four, starting from the practical experience of international landlord port financing, investigates the relevant facts and characteristics of port land leasing as a port financing mode. Based on the geographical distribution of ports in the world which use landlord port mode for port infrastructure financing, the paper summarizes the financing practice and land leasing of landlord ports in major regions of the world. On the basis of analyzing the specific clauses of the "port land lease" contracts signed by the "landlord" and the operators in these ports, this paper examines the characteristics of the port land lease contracts under the financing mode of the landlord port from the aspects of rent, lease term, sub-lease, sub-lease and sub-contract, and restrictive clauses, respectively, in order to accommodate the land lease of the landlord port as follows The economic analysis of capital contracts provides the basis of fact and experience.
Chapter Five analyzes the port land lease financing contract under the mode of landlord port from the perspective of contract economics. Based on the analysis of the lease forms and the influencing factors of different forms of land lease financing contract for landlord port, this paper introduces transaction costs and risk factors into different contracts of port financing, and studies the port most. In addition, this chapter also analyzes the impact of transaction costs and risks on the term selection of lease financing contracts for landlord ports.
Chapter 6 discusses the optimal allocation and contract incentive of land lease financing contracts in landlord ports through a more specific form of contract based on Chapter 5 model. The optimal allocation of land lease financing contracts can be obtained to maximize the benefits of both landlords and lessees. The paper also discusses what incentive mechanism should be designed by the port authority as the landlord in the land lease financing contract of the main port to promote the lessee's investment in port infrastructure. Provide more development funds.
Chapter 7 undertakes the above theoretical and Empirical Analysis on the financing mode of the international mainstream landlord ports. On the basis of comparing the operating characteristics of the financing mode of the Chinese landlord ports with that of the international mainstream landlord ports, the paper examines the contractual relationship and the allocation of contractual resources in the financing mode of the quasi-landlord ports in China.
The last part is the conclusion.
The main conclusions are as follows:
(1) The landlord port is essentially a financing mode that links the public sector and the private sector to invest in port infrastructure construction through land leasing.
(2) The choice of different port financing modes and the optimal allocation of landlord port land lease financing contracts depend on the combined effects of transaction costs and risk factors: in the presence of transaction costs, risk-averse lessees will choose the landlord port land lease financing contracts with mixed rents, and the optimal allocation of the contracts is between the Port Authority and the lessees. Share profits and take risks together.
The allocation of the optimal incentive contract of the Port Authority should take into account the lessee's operating ability, effort cost, risk aversion, and exogenous risks. The port authority should give the lessee a higher rent sharing.
(3) The length of land lease term in landlord port financing is mainly based on the choice of risk and incentive. The choice of contract term depends on the comparison of transaction costs under different term contracts.
(4) China's current implementation of the quasi-landlord port financing model is a variant of the international mainstream landlord port financing model, which is not an ideal port with the participation of a tripartite entity formed between the land and resources management department, the port investment company and the wharf operators, and the contractual relationship of double principal-agent and double profit distribution. The mode of port financing is essentially a resource allocation mode in which local governments rely on land ownership to monopolize the value-added income of port land. It is contrary to the original intention of the landlord port financing mode, that is, to attract private sector funds and encourage them to participate in the construction of port infrastructure.
Compared with previous studies, the innovation of this paper is mainly reflected in:
Firstly, considering the operational characteristics of international landlord port financing practice, this paper examines the contractual characteristics of port land leasing financing, which is different from land leasing and is based on the expansion of farmland leasing and other land leasing functions. On this basis, it is explained in the framework of contract economics.
Secondly, according to the contractual characteristics of different port financing modes and the target differences of the actors, the analytical framework of the tenancy theory is extended to the multi-contract cases represented by different port financing modes, such as public service port and main port, to form a comparative analysis of resource allocation under multi-contract conditions and an optimal mode of capital allocation. The theoretical framework of the solution.
Thirdly, based on the special transfer characteristics of port land lease financing funds and the behavior characteristics of contract economic entities, the contract relationship models of single-period and multi-period land lease financing of landlord ports with incentive and constraint functions are constructed respectively, which give economic explanation to the internal mechanism of the financing model of landlord ports. The reference significance of the contractual relationship model lies in that it can be used to diagnose the contractual resource allocation problem of the quasi-landlord port financing model under the dual profit distribution in China by extending the "equilibrium analysis" under the Chinese conditions.
【學(xué)位授予單位】：山東大學(xué)
【學(xué)位級別】：博士
【學(xué)位授予年份】：2013
【分類號】：F301.3;F551

【相似文獻(xiàn)】

相關(guān)期刊論文 前10條

1 陳有安,尉維斌;水電站項(xiàng)目設(shè)備租賃融資模式研究[J];水利水電技術(shù);2002年02期

2 陳柳欽;;運(yùn)用PPP模式進(jìn)行城市軌道交通建設(shè)融資[J];中國市政工程;2006年03期

3 陳柳欽;;運(yùn)用PPP模式進(jìn)行城市軌道交通建設(shè)融資[J];上海鐵道科技;2006年04期

4 蔡蔚;;“建設(shè)—轉(zhuǎn)讓”融資模式在城市軌道交通建設(shè)中的若干操作性問題[J];城市軌道交通研究;2007年08期

5 戚蕊;;項(xiàng)目融資在商業(yè)房地產(chǎn)中的應(yīng)用[J];基建優(yōu)化;2007年05期

6 甘琳;蔣日雄;傅鴻源;申立銀;;中國農(nóng)村基礎(chǔ)設(shè)施融資模式研究[J];建筑經(jīng)濟(jì);2008年04期

7 趙彩云;;淺談我國高速公路融資渠道及存在的問題[J];中小企業(yè)管理與科技(上旬刊);2009年06期

8 胡群峰;;船舶售后回租融資模式研究[J];中國水運(yùn);2010年03期

9 宋莉;;淺談高速公路的融資模式[J];經(jīng)營管理者;2010年05期

10 付美林;;污水處理項(xiàng)目TOT模式融資問題與對策[J];山西建筑;2011年22期

相關(guān)會議論文 前10條

1 韋麗云;;廣西沿邊經(jīng)濟(jì)基礎(chǔ)設(shè)施建設(shè)融資模式探析[A];廣西北部灣經(jīng)濟(jì)區(qū)建設(shè)與沿邊經(jīng)濟(jì)發(fā)展理論研討會論文集[C];2008年

2 李丹;;中小企業(yè)供應(yīng)鏈融資模式及風(fēng)險(xiǎn)淺析[A];2011年通信與信息技術(shù)新進(jìn)展——第八屆中國通信學(xué)會學(xué)術(shù)年會論文集[C];2011年

3 黃健青;張碧倩;;中關(guān)村科技金融服務(wù)有效層次融資模式的研究[A];創(chuàng)新驅(qū)動與首都“十二五”發(fā)展——2011首都論壇文集[C];2011年

4 ;新時(shí)期中國城鎮(zhèn)化融資模式實(shí)踐與創(chuàng)新[A];中國經(jīng)濟(jì)分析與展望（2011-2012）[C];2012年

5 郭文超;;遼寧中小企業(yè)供應(yīng)鏈融資模式探討[A];科技創(chuàng)新與產(chǎn)業(yè)發(fā)展（B卷）——第七屆沈陽科學(xué)學(xué)術(shù)年會暨渾南高新技術(shù)產(chǎn)業(yè)發(fā)展論壇文集[C];2010年

6 王宣喻;曹佳斌;;合約不完備性、合約形式與家族式治理[A];第五屆（2010）中國管理學(xué)年會——公司治理分會場論文集[C];2010年

7 葉明霞;;關(guān)系型融資：中小企業(yè)融資的新思路[A];湖南省經(jīng)濟(jì)學(xué)學(xué)會年會暨科學(xué)發(fā)展觀與湖南經(jīng)濟(jì)協(xié)調(diào)發(fā)展研討會論文集[C];2008年

8 劉業(yè)進(jìn);;合約選擇與組織試驗(yàn)——評羅必良《合約的不穩(wěn)定與合約治理——以廣東東進(jìn)農(nóng)牧股份有限公司的土地承租為例》[A];中國制度變遷的案例研究（土地卷)第八集[C];2011年

9 羅必良;;合約的不穩(wěn)定與合約治理——以廣東東進(jìn)農(nóng)牧股份有限公司的土地承租為例[A];中國制度變遷的案例研究（土地卷)第八集[C];2011年

10 侯凌;曹江;;公路建設(shè)資金的來源與籌集[A];中國公路學(xué)會公路規(guī)劃分會2003年文集[C];2003年

相關(guān)重要報(bào)紙文章 前10條

1 陳思　邱良晶;創(chuàng)新融資模式協(xié)助中小企業(yè)順利擴(kuò)張轉(zhuǎn)型[N];西部時(shí)報(bào);2010年

2 本報(bào)記者 晏耀斌;保障房建設(shè)融資模式待突破[N];中國經(jīng)營報(bào);2011年

3 本報(bào)記者 邱桂奇;南京：保障房融資模式創(chuàng)新樣板[N];中國房地產(chǎn)報(bào);2011年

4 記者 戴磊;創(chuàng)新融資模式 破解擔(dān)保難題[N];金融時(shí)報(bào);2011年

5 記者 李江濤;拓寬渠道創(chuàng)新融資模式 全力破解資金趨緊難題[N];洛陽日報(bào);2011年

6 繆琴;梯形融資模式為中小企業(yè)“舒筋活血”[N];成都日報(bào);2011年

7 本報(bào)記者 龔友國;梯形融資模式為中小企業(yè)“舒筋活血”[N];中國企業(yè)報(bào);2011年

8 記者 羅培新;創(chuàng)新融資模式 服務(wù)企業(yè)發(fā)展[N];閩南日報(bào);2011年

9 ;福建:創(chuàng)新融資模式 破解資金難題[N];中國交通報(bào);2010年

10 本報(bào)記者 馬靜t，

本文編號：2181028