中国市场化指数 : 各地区市场化相对进程报告 = NERI Index of Marketization of China's Provinces

We use an ordered logistic model to empirically examine the factors that explain varying degrees of private involvement in the US water sector through public–private partnerships. Our estimates suggest that a variety of factors help explain greater private participation in this sector. We find that the risk to private participants regarding cost recovery is an important driver of private participation. The relative cost of labour is also a key factor in determining the degree of private involvement in the contract choice. When public wages are high relative to private wages, private participation is viewed as a source of cost savings. We thus find two main drivers of greater private involvement: one encouraging private participation by reducing risk, and another encouraging government to seek out private participation in lowering costs.

Recovery Risk and Labor Costs in Public-Private- Partnerships: Contractual Choice in the U.S. Water industry

Although China’s toll highways are world-renowned, they suffer from indisputable operational inefficiencies Operationally, China’s toll highway sector is characterized by an administrative monopoly In particular, governmental loan-repayment highways have such characteristics as franchising, monopoly, and “one highway by one company” Hence, this study concentrates on the relationship between economic performance, administrative monopoly, and scale efficiency with respect to toll highways, and explores how the China-specific administrative monopoly affects the transformation of toll highways from scale to efficiency Using the globally referenced data envelopment analysis- (DEA-) Malmquist Index, this study first measures the operational efficiency of China’s toll highway sector from 2010 to 2017 Based on provincial panel data, this paper then discusses the relationship between toll highway scale and economic performance through system-generalized method of moments estimation and verifies the status quo of the transformation of toll highways from scale to efficiency From the provincial and industrial perspectives, this study further verifies how an administrative monopoly restricts the transformation from scale to total factor productivity and scale efficiency through the unique operation pattern in the toll highway sector Finally, this study conducts an extended analysis of the relationship between operational efficiency and debt in the toll highway sector The administrative monopoly is found to increase the debt burden of the toll highway sector and to have a negative impact on the long-term sustainability of the sector

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Study on the Operation Efficiency of Toll Roads in China from the Perspective of Scale Economy

Land finance in China: Analysis and review

Economic Development and Political Reform: The Impact of External Capital on the Middle East, by Bradley Louis Glasser. Cheltenham, UK and Northampton MA: Edward Elgar Publishing Inc, 2001. vi + 129 pages. Bibl.to p.139. Index to p. 147. $70. Reviewed by Gawdat Bahgat Since the mid-1970s, the world has witnessed an impressive global transition from dictatorship to democracy. Almost everywhere ruling regimes have taken significant steps toward political reform and liberalization. This "wave of democratization," however, seems to have missed the Middle East. In other words, the democratic experiments in the Arab world seem to be slower and more stagnant than those of Latin America, Eastern Europe, and Africa. This so-called "Middle Eastern exceptionalism" has prompted students of the region to seek an explanation. Several reasons have been cited including culture, elite coalition, the Arab-Israeli conflict, and the international system. In addition, most scholars agree that the nature and dynamics of the political economy of Middle Eastern states are a prominent reason for their lagging behind the global wave of democratization. Among those who have underscored this point are Iliya Harik and Denis J. Sullivan, in Privatization and Liberalization in the Middle East (Bloomington, IN: Indiana University Press, 1992); Augustus Richard Norton, in Civil Society in the Middle East (Leiden: E.J. Brill, 1995); and Rex Brynen, Bahgat Korany and Paul Noble, in Political Liberalization and Democratization in the Arab World (Boulder, CO: Lynne Rienner, 1995 and 1998). Bradley Louis Glasser's work, which grew out of his doctoral research at Columbia University, is another attempt to explain the connection between the region's political economy and liberalization. The main focus of the study is on state revenues. Glasser proposes that regimes that receive low levels of exogenous rents are likely to elect center-right coalitions, while those who receive high levels of exogenous revenues tend to favor populist contenders. This hypothesis is examined in four case studies: Turkey, Morocco, Egypt and Kuwait. The time frame of the study is from 1979 to 1986. Glasser chooses Turkey and Morocco as examples of states with low exogenous revenues, Egypt as an example of a "semi-rentier" system, and Kuwait as an example of a state that is highly dependent on external resources. The author does not explain, however, why other countries with similar economic and political conditions are not included in the study. …

Economic Development and Political Reform: The Impact of External Capital on the Middle East

Local governments around mainland China initiated over 14,000 public–private partnership (PPP) projects with a total investment of 18 billion RMB in recent years, but nearly half have been withdrawn since the end of 2017, which raised wide concerns about whether PPP can contribute to the sustainable infrastructure development in urban China. In this study, we empirically investigated major factors affecting local governments’ PPP adoption, especially factors that led local governments to initiate inappropriate PPP projects. Based on a unique panel dataset of 286 Chinese cities between 2014 and 2017, the empirical findings suggested that local governments’ financial pressure was the most important factor and cities with higher off-budgetary debts or lower budgetary deficits tended to initiate more PPP projects. PPP projects initiated under off-budgetary burdens were more likely to be inappropriate and subsequently withdrawn. Based on the empirical results, we provide policy suggestions to promote sustainable PPP developments in China.

https://www.mdpi.com/2071-1050/11/23/6831/pdf

Bo Zhang

Papers

Factors Affecting Local Governments’ Public–Private Partnership Adoption in Urban China