Public-Private Partnership （PPP） financing modalily has the ability of alleviating the budgetary pressure to the government. fulfilling the need of infrastructure development, and improving the efficiency of investm...Public-Private Partnership （PPP） financing modalily has the ability of alleviating the budgetary pressure to the government. fulfilling the need of infrastructure development, and improving the efficiency of investment and operation. However, the negotiations between the government and the investors are time-consuming and costly, due to the perspective differences in risk allocation and revenue distribution. Disputes often arise during concession period because of changes in various risks or non-performance of its obligalions, especially when one sector was forced to accept the requirements by the other as a result of the unequal status, the project urgency or other reasons. Only a few PPP projects in China could perform successfully. There is therefore a need to develop an equitable risk allocation mechanism for the delivery of PPP projects in China so as to improve the efficiency of private investment in infrastructure development.展开更多
The public-private partnership has been in use in the world for over 40 years, and has been growing at a varying rate and with mixed success in different countries. Based on the experience gained in selected countries...The public-private partnership has been in use in the world for over 40 years, and has been growing at a varying rate and with mixed success in different countries. Based on the experience gained in selected countries, this article shows key success factors of the public-private partnership.展开更多
In this study,the statistical information of 166 park Public-Private Partnership(PPP)projects in China,such as investment,area,project stage,and locality area,was collected to analyze types of clusters and defined fiv...In this study,the statistical information of 166 park Public-Private Partnership(PPP)projects in China,such as investment,area,project stage,and locality area,was collected to analyze types of clusters and defined five types.For each type of cluster,it was possible to analyze the merits of park PPP projects in China.The case study also revealed the construction process of the entities that build,manage and operate the projects.With the findings from the analysis,it can present a perspective on Japan and China and compare park Private Finance Initiative(PFI)and PPP projects between Japan and China.展开更多
This paper tries to demonstrate that the principle of the risk allocation based on the balance is the most effective way to resolve the risk allocation problems of public-private partnership （PPP） contracts and pres...This paper tries to demonstrate that the principle of the risk allocation based on the balance is the most effective way to resolve the risk allocation problems of public-private partnership （PPP） contracts and presents suggestions how to carry out this principle. For PPP projects, it is necessary to set up a workable and commercially viable risk sharing mechanism to satisfy the different interests and the objectives of both the public sector and the private sector. An effective risk allocation mechanism is not only an important part in preparing project documents, but also an essential part in the success of PPP contracts. Risk allocation can be represented in a risk matrix. The more balanced the risk allocation is, the lower the risk degree of PPP contracts is. Therefore, the most effective risk allocation of PPP contracts is that the public sector and the private sector take part in risk management together in all the stages of the project and allocate the balanced risks. The outcomes of this paper can be used by both the public sector and the private sector to make a good choice of the PPP contract form.展开更多
The feasibility study of a public-private partnership （PPP） project is regarded as one of the critical factors for successful implementation, but unfortunately the common financial evaluation methods currently used ...The feasibility study of a public-private partnership （PPP） project is regarded as one of the critical factors for successful implementation, but unfortunately the common financial evaluation methods currently used only represent the benefits of the private sector. There is, therefore, an urgent need to develop an equitable financial evaluation method for PPP projects. This paper presents a comprehensive literature review that examines international practices. An equitable financial evaluation method was then developed taking into account the inherent characteristics of PPP projects using six separate indicators and Monte Carlo simulations. The result for a bridge project in Romania shows that the method combines the viewpoints of all the relevant stakeholders to achieve an equitable financial evaluation of PPP projects.展开更多
以水电公私合营(public private partnership,PPP)项目实施阶段风险为研究对象,进行了共担风险的识别,确认了3种类型的共担风险,在风险识别的基础上利用故障树分析(fault tree analysis,FTA)方法对分属不同主体的风险因素进行评价,通过...以水电公私合营(public private partnership,PPP)项目实施阶段风险为研究对象,进行了共担风险的识别,确认了3种类型的共担风险,在风险识别的基础上利用故障树分析(fault tree analysis,FTA)方法对分属不同主体的风险因素进行评价,通过计算单元的结构重要度确定出影响项目实施风险因素的重要性排序.分析结果表明:私人部门的管理水平低、项目外部环境复杂性和公共部门过多的行政干预等几个方面是产生项目共担风险的主要因素.展开更多
While public-private partnerships(PPPs)have surged worldwide since the 1990s,they have been met with growing skepticism during the last years.A recent revision of Germany's constitutional rules on motorway constru...While public-private partnerships(PPPs)have surged worldwide since the 1990s,they have been met with growing skepticism during the last years.A recent revision of Germany's constitutional rules on motorway construction and observations on the use of PPPs published by both the German and the European Courts of Auditors illustrate this new caution.These two examples fit into a general trend towards a revival of the public sector,which can be summarized under the cross-level umbrella term"publicization."It would,however,be remiss to replace the uncritical euphoria that once surrounded privatization with a similarly undifferentiated euphoria regarding publicization.Rather,it is crucial to identify the most appropriate solution for the fulfilment of each public task from the"toolbox"of publicization on the one hand and privatization on the other hand in order to ensure the most effective completion of public functions.展开更多
文摘Public-Private Partnership （PPP） financing modalily has the ability of alleviating the budgetary pressure to the government. fulfilling the need of infrastructure development, and improving the efficiency of investment and operation. However, the negotiations between the government and the investors are time-consuming and costly, due to the perspective differences in risk allocation and revenue distribution. Disputes often arise during concession period because of changes in various risks or non-performance of its obligalions, especially when one sector was forced to accept the requirements by the other as a result of the unequal status, the project urgency or other reasons. Only a few PPP projects in China could perform successfully. There is therefore a need to develop an equitable risk allocation mechanism for the delivery of PPP projects in China so as to improve the efficiency of private investment in infrastructure development.
文摘The public-private partnership has been in use in the world for over 40 years, and has been growing at a varying rate and with mixed success in different countries. Based on the experience gained in selected countries, this article shows key success factors of the public-private partnership.
文摘In this study,the statistical information of 166 park Public-Private Partnership(PPP)projects in China,such as investment,area,project stage,and locality area,was collected to analyze types of clusters and defined five types.For each type of cluster,it was possible to analyze the merits of park PPP projects in China.The case study also revealed the construction process of the entities that build,manage and operate the projects.With the findings from the analysis,it can present a perspective on Japan and China and compare park Private Finance Initiative(PFI)and PPP projects between Japan and China.
文摘This paper tries to demonstrate that the principle of the risk allocation based on the balance is the most effective way to resolve the risk allocation problems of public-private partnership （PPP） contracts and presents suggestions how to carry out this principle. For PPP projects, it is necessary to set up a workable and commercially viable risk sharing mechanism to satisfy the different interests and the objectives of both the public sector and the private sector. An effective risk allocation mechanism is not only an important part in preparing project documents, but also an essential part in the success of PPP contracts. Risk allocation can be represented in a risk matrix. The more balanced the risk allocation is, the lower the risk degree of PPP contracts is. Therefore, the most effective risk allocation of PPP contracts is that the public sector and the private sector take part in risk management together in all the stages of the project and allocate the balanced risks. The outcomes of this paper can be used by both the public sector and the private sector to make a good choice of the PPP contract form.
基金the National Natural Science Foundation of China (Nos. 70471004 and 70731160634)
文摘The feasibility study of a public-private partnership （PPP） project is regarded as one of the critical factors for successful implementation, but unfortunately the common financial evaluation methods currently used only represent the benefits of the private sector. There is, therefore, an urgent need to develop an equitable financial evaluation method for PPP projects. This paper presents a comprehensive literature review that examines international practices. An equitable financial evaluation method was then developed taking into account the inherent characteristics of PPP projects using six separate indicators and Monte Carlo simulations. The result for a bridge project in Romania shows that the method combines the viewpoints of all the relevant stakeholders to achieve an equitable financial evaluation of PPP projects.
文摘以水电公私合营(public private partnership,PPP)项目实施阶段风险为研究对象,进行了共担风险的识别,确认了3种类型的共担风险,在风险识别的基础上利用故障树分析(fault tree analysis,FTA)方法对分属不同主体的风险因素进行评价,通过计算单元的结构重要度确定出影响项目实施风险因素的重要性排序.分析结果表明:私人部门的管理水平低、项目外部环境复杂性和公共部门过多的行政干预等几个方面是产生项目共担风险的主要因素.
文摘While public-private partnerships(PPPs)have surged worldwide since the 1990s,they have been met with growing skepticism during the last years.A recent revision of Germany's constitutional rules on motorway construction and observations on the use of PPPs published by both the German and the European Courts of Auditors illustrate this new caution.These two examples fit into a general trend towards a revival of the public sector,which can be summarized under the cross-level umbrella term"publicization."It would,however,be remiss to replace the uncritical euphoria that once surrounded privatization with a similarly undifferentiated euphoria regarding publicization.Rather,it is crucial to identify the most appropriate solution for the fulfilment of each public task from the"toolbox"of publicization on the one hand and privatization on the other hand in order to ensure the most effective completion of public functions.
