| At present,Chinese urbanization process is in a rapid development stage.The implementation of the public-private partnership(PPP)model in the public sector is a comprehensive deepening of reform in China.It can change the functions of the government,stimulate private capital investment and improve public service supply level and efficiency,and has achieved good results.It can ease the government financial pressure to improve the operational efficiency of public goods and services through the introduction of private funds.However,the actual implementation of the PPP situation is that,although private enterprises have a certain strength,they don't have enthusiasm to participate in public utilities PPP.As what we found through field research,it is implicit barriers that private enterprises involved in PPP face that lead to the low private enterprises participation rate,which make it difficult to effectively play the role of PPP.Therefore,it is very important to deeply analyze the implicit entry barriers.This paper analyzes the series of informal institutional barriers that the private enterprises face in public utilities PPP from the new institutional economics perspective.Then we put forward some suggestions to improve the PPP system,encourage private enterprises to participate in PPP.The main contents of this paper are as follows:1.On the basis of the applicability analysis of PPP,explore the demand and current situation of private enterprises' participation in PPP.Combine with the basic characteristics of public utilities,such as fundamental,public and large amount of investment,analyze the applicability of public utility PPP model.And then combine with the requirements of economic development,the shortcomings of the traditional mode to supply public utilities,the strength of private enterprises,supported economic theory and other aspects,point out that private enterprises' participation in PPP is an inevitable demand.Combin with the status of private enterprises to participate in PPP,point out that private enterprises face many informal institutional barriers,for example,the high financing costs,the lack of government trust and other difficulties.2.Base on the basic framework of the new institutional economics,deeply analyze the informal institutional barriers that private enterprises face in public utilities PPP.On the basis of the basic framework of the new institutional economics,we regard the implicit entry barriers faced by private enterprises in public utilities PPP as informal institutional barriers.Combine with the role and characteristics of the informal system,we further explain the informal institutional barriers as a series of hidden obstacles caused by informal institutional factors.The informal system barriers are mainly reflected in four aspects,there are local government's prejudice to the private enterprises,the existence of discrimination against private enterprises,the uncertainty of commitment to private enterprises,the state-owned enterprises' "squeeze effect" on private enterprises.3.Use the Cournot game model to analyze the impact of informal institutional barriers,emphasize the government's important role.By adding the informal system barriers as a single variable into the model,construct the Cournot game model between local government,state-owned enterprises and private enterprises.The result shows that many factors can encourage private enterprises to participate in public utilities PPP.On the one hand,it is necessary to reduce the production cost and entry costs of private enterprises,on the other hand,it need to optimize the institutional environment to reduce the initial transaction costs of private enterprises,which need to focus on lowering informal system barriers.Local government take an positive role in lowering informal institutional barriers.4.Explore the path of institutional innovation of PPP,and propose the incentive policy to improve the enthusiasm of private enterprises.Based on the analysis of the informal institutional barriers of private enterprises participating in public utilities,this paper explores the dynamic mechanism of PPP system innovation,and combines the induced institutional innovation path and the compulsory institutional innovation path,put forward a "Multi-interactive,up and down " PPP system innovation path.And then from five aspects-institutional environment,regulatory system,information disclosure system,asymmetric policy,the government breach of duty accountability system-to put forward public utilities PPP incentive policy advices.This paper may be innovative as follows:(1)Summed up the informal system barriers that private enterprises face when participating in public utilities PPP.From the new institutional economics perspective,summarize the hidden informal institutional barriers faced by the private enterprises as the prejudice of the local government to the private enterprises,the discrimination to the private enterprises in the implementation of PPP projects,the uncertainty of commitment to private enterprises,state-owned enterprises have "squeeze effect" on the private enterprises.(2)Put forward the innovation path of PPP system and the specific institutional innovation proposal.This paper designs the innovation path of the PPP system of the utility system,which combines the induced institutional innovation and the compulsory institutional innovation path,and puts forward some incentive policies to encourage private participation in PPP from the institutional environment,laws and regulations.(3)Applying the Cournot game model to analyze the impact of informal institutional barriers on private enterprises' participation in PPP.In this paper,the informal system as a separate variable into the Cournot game model,the local government,state-owned enterprises and private enterprises between the two-stage static game results,informal institutional barriers to private enterprises to participate in PPP has a hindrance,government departments By providing a formal system of positive externalities to reduce barriers. |
PDF Full Text Request