试论PPP项目的风险分配原则和框架

Risk Allocation Principles and a Framework for Risk Allocation of PPP

PPP项目融资模式在世界范围内已经得到广泛的应用,但在实际的应用中公共部门和私人部门往往就PPP项目中风险的分配难以达成一致,大大延长了双方谈判的时间和增加了交易成本。本文分析了影响PPP项目风险分配的因素,提出了更为合理的风险分配原则,并设计了相应的风险分配框架,对指导公共部门和私人部门谈判PPP项目具有实际指导作用。

The PPP project financing model has been widely adopted in the world. There is however a critical issue in its application that it＇s hard to reach an agreement for risk allocation between the public and the private sectors, resulting in a relatively longer negotiation period and a higher transaction cost. This paper analyzes firstly factors affecting the risk allocation of PPP projects and then proposes more reasonable risk allocation principles as well as a framework for risk allocation accordingly, which could service as practical guidelines for public and private sectors during PPP project negotiation.