The Study For Risk Allocation Mechanism Of Ppp Pattern In Highway Construction

PPP pattern is not strange in overseas, but it still is at the beginning of the domestic application and research. PPP pattern's superiority gradually obtains government's approval as our country increases investment to infrastructural facilities', special for the investment of highway. So it has been used in the highway construction. The main reason is that PPP pattern can reduce government's financial pressure, make full use of the private capital, reduce the possibility which the risks occur in the project, and fall the loss to the lowest. Importantly, it not only can realize government's demand of public welfare, but also satisfy enterprise's goal to benefit.Although PPP pattern has the superiority the traditional financing patterns do not have, yet it still does not avoid some risks that the project itself has in the implementation process. The key the PPP project can succeed is that these risks can be shared reasonably among all the partners. Therefore the main question of this article is how to share the risks among every partner and the purpose of it is to make the project using PPP pattern constructed and managed more successfully. Under the foundation of the researches, the article uses a method of correlating the theory to the application to analyze the risk proportion of the main participations (government, private unit and project constructor) by building models. Finally it takes plans in the construction of the highway from Yibin to Panzhihua as the example to analyze the use of the two models.The core content of the paper is as follows:The article analyzes the financing situation of highway construction, the question existing as well as the situation of private capital's application at present in our country. At the same time, it elaborates the significance of private capital used in highway construction and points out it is a tendency that private capital enters the highway construction. Because of this, it has drawn out another tendency that PPP pattern will be applied in highway construction in our country. PPP pattern may widely be used in the infrastructural facilities and is of great significance to them. However, whether its risks are shared reasonably among participations is very important to the PPP project. Therefore the article tries to determine risk allocation mechanism (which is mainly the risk proportion in this article) by building models in the PPP project. What's more, it takes the highway from Yibin to Panzhihua in plan as an example, proving the validity of the models and providing certain suggestion to its construction.