Bio: Ding Jing is an academic researcher from Shandong jianzhu university 山東建築大學. The author has an hindex of 1, co-authored 1 publications receiving 3 citations.
TL;DR: Wang et al. as mentioned in this paper analyzed the subway project's characteristics, application field and operational idea, and pointed out that PPP mode is an effective way of working out subway project financing plight.
Abstract: On the basis of analyzing PPP mode’s characteristics, application field and operational idea, the paper analyses further the subway project financing status, as well as to point that PPP mode is an effective way of working out subway project financing plight. Finally, the paper indicates PPP mode’s advantage in subway project financing and puts forward some guarantee measures, such as legislating and perfecting existing laws and regulations, accelerating the transition of government’s role, establishing a reasonable risk-sharing structure.
TL;DR: Wang et al. as mentioned in this paper analyzed and explained the processes of rise and fall of public-private partnership in China, and argued that the adoption of Public-Private Partnership in China is a path-dependent process rather than some economic optimum advocated by a variety of international organizations.
Abstract: Due to growing traffic demand, enormous investment requirements and high fiscal pressures, China has witnessed a reshaping of financing policies in large transport infrastructure projects from public financing to Public–Private Partnerships. As a result, the provision of transport infrastructure services in China has been steadily moving from the realm of government to that of private sector. In the same period, governments at the central and regional levels were actively engaged in this institutional transition by devising corresponding policies and enacting new laws and regulations. However, in late 2009 it became clear to the authors of this article that there has been a tendency of rolling back private participation in transport infrastructure and service because of various forms of opportunistic behavior on the part of some private players and malpractices among some governmental officials in their interaction with private players, and in relatively recent a number of large transport projects have been granted to state-owned enterprises. Therefore, the purpose of this article is to analyze and explain the processes of rise and fall of Public–Private Partnership in China. We argue that the adoption of Public–Private Partnership in China is a path-dependent process rather than some economic optimum advocated by a variety of international organizations. Specifics of wider Chinese political, cultural and institutional context are recognized as important factors that influence the performance of Public–Private Partnership. Effects of decisions made under transitory conditions can persist long after those conditions have vanished. In addition, these historical legacies are important in understanding contemporary use of Public–Private Partnership in China, and they are also the origins from which the sub-optimal statuses are often led.
TL;DR: Wang et al. as discussed by the authors built a financing risk index system by adopting the raw data of major risk factors by questionnaire investigation from a key domestic PPP project, and using SPSS and factor analysis method to do an empirical test.
Abstract: As an innovative investment and financing system of urbanization and the key to the local financing platform to resolve the debt risk, PPP projects have great significance to the current Chinese economy. At present, domestic PPP projects lack of benefit sharing standard and the mechanism of risk-sharing and risk factor analysis is the premise of risk-sharing. Adopting the raw data of major risk factors by questionnaire investigation from a key domestic PPP project, and using SPSS and factor analysis method to do an empirical test, a financing risk index system is built. The results of the study also reveal that financing risk factors are the most important ones to a particular PPP project.
01 Nov 2010
TL;DR: In this article, the adoption of PPPs as a phenomenon of institutional transplantation or policy transfer is described, and the path by which such institutional arrangement went through one equilibrium to another.
Abstract: In light of evolutionary theories, China has experienced dramatic institutional transitions in financing large transport projects in recent decades, resulting in two new equilibria: the rise and fall of Public-Private Partnerships (PPPs). This article looks at the adoption of PPPs as a phenomenon of institutional transplantation or policy transfer, describes these two equilibria and explains the path by which such institutional arrangement went through one equilibrium to another. It argues that specifies of wider Chinese political, cultural and institutional context are important factors that influence the adoption of PPPs. That means, these historical legacies play significant roles in understanding contemporary use of PPPs in China and they are the origins from which the sub-optimal statuses of the equilibria are often led.