The Research On The Fiscal Risk Of Public-Private-Partnership

The object of this paper is to study the of fiscal risk of PPP model, the PPP develops fast in large-scale in our country at present, but in the process of the fast development, a huge increase in the number of the PPP projects has made, and mainstream of PPP projects of is set up by the areas that local fiscal condition is not good. and this should get more attention, so we can avoid the PPP programs to take the place of the local government-backed investment units. This paper tries to thoroughly study the PPP model fiscal risk theory of our country’s and describes the causes of the PPP mode risk, fiscal risks which are classified the PPP mode then to point out the possibility of fiscal risk in our country in the development of the PPP which is warning up now, and we can consummates our country fiscal system, thus the paper has a strong practical significance.Firstly the concept of PPP is defined and the source of thought of PPP is analyzed. The paper points out that the fiscal risk is caused by the fiscal department’s own activities of endogenous fiscal risk and the fiscal risk is composed of exogenous fiscal risk caused by the outside world, we believe that the fiscal risks of PPP which is composed of two parts, one part is fiscal policy deficiency caused by fiscal risk and the other part is PPP formation of fiscal risk caused by external factors.Then the paper analyzed various periods of the PPP in our country. It can be divided into four stages by fiscal risk extent that are gradually increasing. The causes of fiscal risk to the PPP mode were analyzed, and the fiscal risk has carried on the classification to the PPP mode.The end of the article take a careful look to the PPP project fiscal risk analysis in detail of a waterworks in Wenzhou PPP projects in China, the 3rd Nanjing Changjiang river bridge and the toll road, Indiana, USA, Germany, Nova tunnel. At the end of the paper,domestic and foreign experiences are summarized to make a policy proposal to solve the fisical risk of PPP mode.