新型城鎮(zhèn)化建設中PPP融資模式運行機制研究
本文選題:新型城鎮(zhèn)化 切入點:PPP模式 出處:《安徽建筑大學》2017年碩士論文 論文類型:學位論文
【摘要】:城鎮(zhèn)化是現代化的必由之路,是人類文明進步的重要標志。改革開放以來我國城鎮(zhèn)化建設發(fā)展快速,主要依賴政府財政支出及土地出讓金的形式進行建設的傳統城鎮(zhèn)化重數量輕質量,不能滿足全面建設小康社會的發(fā)展要求。十八大報告明確提出,作為促進經濟發(fā)展方式轉變的重點和推進完成小康社會建設的載體新型城鎮(zhèn)化建設必須走中國特色化道路。相對傳統城鎮(zhèn)化而言,新型城鎮(zhèn)化科學合理的推動建設進程,綜合發(fā)展、節(jié)約發(fā)展、協調發(fā)展、創(chuàng)新發(fā)展相結合,走以人為本、節(jié)約資源、環(huán)境友好、經濟高效、城鄉(xiāng)一體化的道路。當前眾多因素阻礙了新型城鎮(zhèn)化建設的步伐,資金是最為突出的制約因素。主要依賴政府財政支出、地方投融資平臺等以政府為主的融資模式,融資渠道狹窄,資金來源無法滿足建設需求,突破資金瓶頸,選擇正確的融資模式迫在眉睫。新型城鎮(zhèn)化建設中引入PPP模式,融資主體多元化的同時拓寬了融資渠道。重點研究利益相關者間如何合理分擔風險、分配利益,構建新型城鎮(zhèn)化建設中PPP運行機制。固定資產投資額由城鎮(zhèn)固定資產投資額與農村固定資產投資兩部分組成,國內生產總值與固定資產投資額存在較強的相關性。選取2006年至2015年的國內生產總值與固定資產投資額為樣本觀察值。構建時間序列模型預測2016年至2020年的國內生產總值,根據Ln(INV)與Ln(GDP)的散點圖知二者具有較強的相關性。預測2016年至2020年的固定資產投資額。新型城鎮(zhèn)化進程中資金主要來源于自籌資金、國內貸款、國家預算資金、外資、其他方式五個渠道。根據張魁偉等對不同資金來源與GDP的關系知,國家預算資金與外資受上一年說獲資金影響,其他三種來源與GDP存在較強的相關關系。預測五種渠道2016年至2020年可能供給的資金。既能影響項目能否成功也能被項目影響的個人或群體都被稱之為PPP項目的利益相關者;赟hapley構建PPP項目核心利益相關者公共部門與私營部門的利益分配模型,得到公共部門、私營部門各自所獲的聯盟收益。選取四個因素投入比例、風險分攤系數、合同執(zhí)行度、貢獻度對利益分配的影響,建立基于Shapley值修正的PPP項目利益分配模型。不完全信息的討價還價博弈模型分析公、私各自需要承擔的風險,引入海薩尼轉換,該模型由無限期轉化為完全但不完美的討價還價博弈。運用逆推法選擇三階段過程,求得精煉貝葉斯納什均衡解,即公、私部門不需要承擔的風險比例。
[Abstract]:Urbanization is the only way to modernization and an important symbol of the progress of human civilization. The traditional urbanization, which mainly relies on the form of government financial expenditure and land transfer funds, is heavy on quantity and light on quality, and cannot meet the development requirements of building a well-off society in an all-round way. As the focus of promoting the transformation of economic development mode and the carrier of completing the construction of well-off society, the new urbanization construction must follow the special road of China. Compared with the traditional urbanization, the new-type urbanization scientifically and reasonably promotes the construction process. Comprehensive development, economical development, coordinated development, innovative development, people-oriented, resource-saving, environment-friendly, economic and efficient, urban-rural integration. Capital is the most prominent constraint factor. It mainly depends on the government financing mode, such as government expenditure, local investment and financing platform, and so on. The financing channel is narrow, the source of funds can not meet the construction demand, and the capital bottleneck can be broken through. It is urgent to choose the correct financing mode. The introduction of PPP mode in the construction of new urbanization, the diversification of financing subjects and the widening of financing channels, focus on how to reasonably share risks and distribute benefits among stakeholders. Constructing the PPP operating mechanism in the new urbanization construction. The fixed assets investment consists of the urban fixed assets investment and the rural fixed assets investment. There is a strong correlation between GDP and investment in fixed assets. The gross domestic product (GDP) and investment in fixed assets from 2006 to 2015 are selected as sample observation values. A time series model is constructed to predict GDP from 2016 to 2016. According to the scattered plot of LnCINV and LnGDP, it is known that there is a strong correlation between them. The fixed assets investment from 2016 to 2020 is predicted. In the process of new urbanization, the main sources of funds are self-financing, domestic loans, state budget funds, foreign capital, etc. There are five other channels. According to Zhang Kui-wei 's relationship between different sources of capital and GDP, state budget funds and foreign capital are affected by the funds received last year. There is a strong correlation between the other three sources and GDP. Predict the funds that may be provided from 2016 to 2020 in five channels. Individuals or groups who can affect the success of the project as well as those who can be affected by the project are all referred to as the benefits of the PPP project. Benefit stakeholders. Based on Shapley to construct the PPP project core stakeholders public and private sector benefit allocation model, Select four factors: input ratio, risk sharing coefficient, contract execution degree, contribution degree to benefit distribution, select four factors of investment ratio, risk sharing coefficient, contract execution degree, contribution degree to benefit distribution, select four factors investment ratio, risk sharing coefficient, contract execution degree, contribution degree to benefit distribution, This paper establishes the profit distribution model of PPP project based on the Shapley value correction. The bargaining game model of incomplete information is used to analyze the risks that the public and private individuals have to bear, and then the Heisani transformation is introduced. The model is transformed from indefinite to a complete but imperfect bargaining game, and the refined Bayesian Nash equilibrium solution is obtained by selecting the three-stage process by using the inverse method, that is, the risk ratio that the public and private sectors do not have to bear.
【學位授予單位】:安徽建筑大學
【學位級別】:碩士
【學位授予年份】:2017
【分類號】:F283
【參考文獻】
相關期刊論文 前10條
1 雷薇;朱鴻鳴;陳寧;黃珊;;對下半年銀行業(yè)形勢的判斷和建議——基于21家上市銀行2015年中報的分析[J];發(fā)展研究;2015年11期
2 ;國務院辦公廳轉發(fā)財政部發(fā)展改革委人民銀行關于在公共服務領域推廣政府和社會資本合作模式指導意見的通知[J];交通財會;2015年06期
3 尤婷婷;;PPP模式——民間資本與我國新型城鎮(zhèn)化建設融資需求的對接[J];時代金融;2015年15期
4 牛潤盛;;新型城鎮(zhèn)化資金供需分析與實證研究[J];北京金融評論;2015年01期
5 袁義淞;李騰;;政府風險規(guī)避視角下的PPP模式委托代理模型研究[J];昆明理工大學學報(自然科學版);2015年01期
6 伍迪;王守清;;PPP模式在中國的研究發(fā)展與趨勢[J];工程管理學報;2014年06期
7 鄧舒仁;;金融支持新型城鎮(zhèn)化建設路徑研究[J];華北電力大學學報(社會科學版);2014年06期
8 ;關于推廣運用政府和社會資本合作模式有關問題的通知[J];中國政府采購;2014年10期
9 李麗紅;朱百峰;劉亞臣;張舒;;PPP模式整體框架下風險分擔機制研究[J];建筑經濟;2014年09期
10 曾軍;張勇;;PPP模式在我國公租房建設中的運用與風險研究[J];金融經濟;2014年14期
相關博士學位論文 前2條
1 杭卓s,
本文編號:1629689
本文鏈接:http://www.sikaile.net/jingjifazhanlunwen/1629689.html