Efficiency Analysis of Government Subsidy and Performance Guarantee Policies in Relation to PPP Infrastructure Projects

Shi, Lei; He, Yujia; Onishi, Masamitsu; Kobayashi, Kiyoshi

doi:10.1155/2018/6196218

Cited by 8 publications

(4 citation statements)

References 27 publications

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“…However, this method is often used to evaluate an isolated policy and not a series of policies on the same theme [47,49]. Policy documents are the main research materials in certain studies [24,27,28,38,39,[50][51][52]. Rothwell and Zegveld put forward a 3D (demand, environment and supply) analytical framework [53].…”

Section: Literature Reviewmentioning

confidence: 99%

Policy Evolution in the Chinese PPP Market: The Shifting Strategies of Governmental Support Measures

2019

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Much attention has been paid world-wide to the advancement of policy with regard to public–private partnerships (PPPs). Though PPPs continue to play a major role in the development of China’s national economy, capital projects and infrastructure upgrade, little work has been done to understand the evolution of Chinese governmental policy with regard to PPPs. This paper addresses this lack and sets out the trajectory of Chinese PPP policy maturation over the period of 1986 to 2018. Policy documents were retrieved from official government websites, such as the Ministry of Finance and National Development and Reform Commission, with some 205 policy statements deemed relevant to PPPs. These were then classified by type and submitted to regression analysis. Five major instruments in support of PPPs were identified, including fiscal, financial, taxation, land and operations support. Moreover, four historical policy phases can be identified in the Chinese PPP market, including ‘try’, ‘explore’, ‘expand’ and ‘consolidate’. While governmental policy may now be considered sophisticated, deficiencies remain, including insufficient policy coordination between departments, lack of financial incentives and poor transparency and disclosure supervision. These observations will inform policy makers as they look to continue advancement of PPP policy measures, and help practitioners in assessing the pitfalls of operating in the Chinese PPP market.

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Section: Literature Reviewmentioning

confidence: 99%

Policy Evolution in the Chinese PPP Market: The Shifting Strategies of Governmental Support Measures

2019

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“…Ke et al [31] demonstrated through case studies that social capital regards "tax incentives" as an efficacious means of financing PPP projects. Shi and He et al [32] explored the influence of performance guarantee policies and government subsidies in preventing the inefficient dissolution of PPP infrastructure projects when external benefits are significant and assured. Despite these insights offering valuable recommendations for PPP policies, a comprehensive understanding of PPP policies remains elusive [33].…”

Section: Prior Research Into Ppp Project Policymentioning

confidence: 99%

Why Are PPP Projects Stagnating in China? An Evolutionary Analysis of China’s PPP Policies

Li,

Xu,

Zhang

et al. 2024

Buildings

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The Public–Private Partnership (PPP) model has significantly contributed to global infrastructure and public service provision. The evolution of the PPP model closely aligns with policy directives. China’s PPP policy evolution has included five stages: budding (1986–2000), fluctuating (2001–2008), steady (2009–2012), expanding (2013–2018), and stagnating (2019–present). This study employs bibliometric analysis and co-word analysis to examine 407 policies enacted by the Chinese government from 1986 to 2018. By extracting policy text keywords at various stages and constructing a co-word network matrix, this study delineates the distinctive characteristics of Chinese PPP policies across different epochs. It can be found that critical areas such as “government credit”, “contract spirit”, and “power supervision” are still underappreciated. The challenges confronting China’s PPP model are multifaceted, stemming from policy gaps that have led to substantial project difficulties. Although the government proposed a new mechanism for franchising in 2023, the new mechanism is only for new PPP projects, and the difficulties of existing PPP projects have not been solved. This study advocates for enhancements in project bankability, regulatory clarity, institutional environment improvement, contract spirit defense, and the development of the PPP-REITs model to address these issues.

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“…Due to the characteristics of nonprofit, large quantities, and long construction time, the GICP requires stable policies to ensure its implementation and operation [72]. As for some projects in a public-private partnership, the government often provides land policy, tax incentives, and other supports to improve the investment benefits [73]. erefore, the stability and sustainability of policies have an essential impact on the growth of projects.…”

Section: Specific Analysis Of Risk Factors In Gicpmentioning

confidence: 99%

Risk Early-Warning Framework for Government-Invested Construction Project Based on Fuzzy Theory, Improved BPNN, and K-Means

Tao

Yong

Yang

et al. 2022

Mathematical Problems in Engineering

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Government-invested construction project (GICP) has a great significance to social and economic development but suffered many risks due to its large scale, huge investment, and long construction period. The risks in GICP are complex so as to lead the project to failure; it is extremely urgent to take the risk management of GICP. This study establishes a risk early-warning framework to help the managers to understand the risk threat in advance, which supports them to make proper management strategies for the risk control. The whole framework can be concluded as three parts: information collection, data processing, and result prediction. Firstly, the 16 risk factors of GICP are identified. To express the hesitance of human decision and reduce the information loss in quantification, hesitant fuzzy linguistic term set (HFLTS) and triangular fuzzy number (TFN) are used to collect the experts’ linguistic term and transform them into numerical value. And then, these inputs are simplified into five factors based on principal component analysis (PCA), decreasing the impact of redundancy to risk early-warning. Meanwhile, the warning level is divided based on K-means, which avoids the subjectivity of experience decision. Further, the backpropagation neural network optimized by the genetic algorithm (GA-BP) is used to complete the simulation of risk value. The 75 groups of questionnaire data are used to train the network and the 10 groups are used as test set. The validation of the proposed framework has been verified with an average relative error in 7.2% and the average absolute error in 3.91. Finally, corresponding suggestions to prevent and control the different risks in GICP are put forward.

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Efficiency Analysis of Government Subsidy and Performance Guarantee Policies in Relation to PPP Infrastructure Projects

Cited by 8 publications

References 27 publications

Policy Evolution in the Chinese PPP Market: The Shifting Strategies of Governmental Support Measures

Policy Evolution in the Chinese PPP Market: The Shifting Strategies of Governmental Support Measures

Why Are PPP Projects Stagnating in China? An Evolutionary Analysis of China’s PPP Policies

Risk Early-Warning Framework for Government-Invested Construction Project Based on Fuzzy Theory, Improved BPNN, and K-Means

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