摘要
本文旨在研究地方政府自有财力对PPP项目引资的影响,以及营商环境对地方政府自有财力和PPP项目引资之间关系的调节作用。研究发现,自有财力缺口对PPP项目引资同时存在拉力作用和阻力作用,即随着自有财力的减少,地方政府更倾向于采用PPP模式提供公共产品或服务(拉力作用),但同时自有财力过于薄弱时,社会资本方会担心地方政府的负担能力而不愿意参与PPP项目(阻力作用)。进一步分析发现,营商环境会对地方政府自有财力与PPP项目引资之间的关系起到正向调节作用,特别是当自有财力过于薄弱的时候,良好的营商环境可以缓解自有财力缺口对PPP项目的阻力作用。
This paper aims to study the impact of local fiscal capacity on the PPP investment attraction and the adjustment effect of business environment on the relationship between local fiscal capacity and PPP investment attraction.It finds that local fiscal capacity has both positive and negative effects on the PPP investment attraction.On the one hand,weak fiscal capacity means the government tends to provide public goods or services via PPP,which will boost PPP.On the other hand,when local fiscal capacity is too weak,it will hinder PPP projects as the social capital will worry about the government's affordability,and will thus not participate in PPP projects.Further analysis finds that the business environment is positively correlated to the relationship between local fiscal capacity and PPP investment attraction.Especially when the local fiscal capacity is too weak,a better business environment can alleviate its negative effects on PPP investment attraction.
作者
沈言言
郭峰
李振
SHEN Yanyan;GUO Feng;LI Zhen(Shanghai University of Finance and Economics, 200433;East China University of Science and Technology, 200237)
出处
《财贸经济》
CSSCI
北大核心
2020年第12期68-84,共17页
Finance & Trade Economics
基金
上海市教育委员会科研创新计划项目人文社科重大项目“城市公共产品有效供给机制研究”(2017-01-07-00-02-E00008)
上海财经大学创新基金项目“PPP绩效评价:组织模式、指标体系与影响因素”(CXJJ-2019-373)
上海财经大学“两个服务行动计划”课题“重塑央地关系视角下的风险防范研究”(2019110175)。
