School of Finance and Public Administration, Shanghai Lixin University of Accounting and Finance, Shanghai, China.
College of Finance and Statistics, Hunan University, Changsha, Hunan, China.
PLoS One. 2024 Jul 3;19(7):e0305051. doi: 10.1371/journal.pone.0305051. eCollection 2024.
The organizational forms of infrastructure in China are divided into two categories, the traditional Public Procurement Model (PUB) model and Public-Private Partnership(PPP) model. The main difference is the separation or binding of the construction and operation phases. A systematic understanding is needed of how Chinese local governments choose between these two models. In this paper, we take public capital congestion and local government objectives as the entry point to study the effects of both on PPP choice. Firstly, by constructing an endogenous economic growth model under the PPP model, and comparing it with the model under the PUB model, this paper initially explains how the rise in public capital congestion affects the choice of the PPP by growth-oriented local governments. Then the data from prefecture-level cities from 2009-2018 are utilized to conduct empirical tests. We find that urban economic growth pressures have a positive effect on the choice of PPP when the congestion of public capital increases. Furthermore, the implementation of PPP is indeed conducive to economic performance, and its core mechanism is to provide more infrastructure (like roads) rather than tax competition. The PPP model is more sustainable. We are the first to employ both modeling approach and the empirical research to address the implementation of Public-Private Partnership in China. And we have systematically analyzed the conditions and results of PPP selection by local governments. It formulates the Chinese PPP theory.
中国基础设施的组织形式分为传统的公共采购模式（PUB）和公私合作伙伴关系（PPP）模式两类。主要区别在于建设和运营阶段的分离或绑定。需要系统地了解中国地方政府如何在这两种模式之间进行选择。本文以公共资本拥堵和地方政府目标为切入点，研究两者对 PPP 选择的影响。首先，通过构建 PPP 模式下的内生经济增长模型，并将其与 PUB 模式下的模型进行比较，本文初步解释了公共资本拥堵如何影响增长导向型地方政府对 PPP 的选择。然后利用 2009-2018 年地级市的数据进行实证检验。结果表明，当公共资本拥堵加剧时，城市经济增长压力对 PPP 的选择有正向影响。此外，PPP 的实施确实有利于经济绩效，其核心机制是提供更多的基础设施（如道路），而不是税收竞争。PPP 模式更具可持续性。我们首次采用建模方法和实证研究来解决中国公私合作伙伴关系的实施问题，并系统地分析了地方政府选择 PPP 的条件和结果。它制定了中国的 PPP 理论。
