重大水利工程PPP项目政府补贴模型及实证分析

Government Subsidy Model and Empirical Analysis of Major Water Conservancy PPP Projects

随着国家投资体制改革的不断深化,PPP模式在水利工程领域得以运用,设置合理的项目回报机制并在实践中不断发展和完善是水利PPP项目持续良性运行的关键。基于净现值NPV模型,考虑全生命周期投入产出效果,建立政府补贴模型和补贴调整模型,从172项重大水利工程中选出典型工程做实证分析,比较理论补贴额与实际补贴额,从社会资本方角度分析项目可行性并总结实践经验,进而提出政策建议,为水利PPP项目稳健推行之策提供参考。

With the deepening reform of the state investment system, the PPP mode is applied in the field of water conservancy, it is the key to the sustainable operation of water conservancy PPP projects to set up a reasonable project return mechanism and improve it continuously in practice. Based on the NPV model, considering the input and output effects of the whole life cycle, the government subsidy model and the subsidy adjustment model are established,typical projects from 172 major water conservancy projects are selected for empirical analysis in this paper. The paper compares the theoretical subsidy with the actual subsidy, analyzes the feasibility of the project from the perspective of social capital, summarized the practical experience, and then puts forward policy recommendations for reference of the prudent implementation of PPP projects.