摘要
城市轨道交通建设作为城市现代化的一部分,已受到越来越多国家的关注,其投融资模式也在不断创新。在已有研究的基础上,根据国内外不同专家学者的观点,从法律、风险以及成本效益等三个角度对目前主要的三种模式,即PPP(公私合作制)、ABS(资产支持证券化)和TOD(以公共交通为导向的开发)模式,作了比较分析,主要得出以下结论:在法律方面,以上三种投融资模式均面临着不同程度的法律障碍;在风险方面,对社会资本来说,PPP模式和TOD模式具有较大风险,而在ABS模式下风险易得到分散;在成本效益方面,PPP模式和ABS模式均具有较高的成本效益,但TOD模式下若能协调好轨道交通沿线开发主体和建设主体,则其具有更大的成本效益。本研究为以后不同模式的正确选择具有一定的参考价值。
As a part of city modernization, construction of urban rail transit has got more and more attention of many countries, its investment and financing modes innovate continuously. On the basis of the existing researches, according to the views of different experts and scholars at home and abroad, a comparative analysis in the main three modes（PPP, ABS and TOD mode） was made in this paper from three aspects： the law, risk, and cost effectiveness.The main conclusions are as follows： these three modes all are facing obstacles in different degrees in the legal aspect; as to risk, both the PPP and TOD mode have bigger risks for the social capltal, but the risk can be easily dispersed under the ABS mode; On the aspect of cost effectiveness, both the PPP and ABS modes have bigger cost effectiveness, but for the reason that the building and developing main bodies along the rail transit side can reach an agreement. the TOD mode has the biggest cost effectiveness. These conclusions provide a certain reference for correctly choosing different patterns of the modes.
出处
《交通运输工程与信息学报》
2016年第2期69-75,121,共8页
Journal of Transportation Engineering and Information
基金
国家自然科学基金项目(71490722)
关键词
轨道交通
投融资模式
法律
风险
成本效益
Rail transit
investment and financing modes
law
risk
cost effectiveness
