Research On The Evolution Game Of PPP Project Financing Dilemma In Guizhou Ethnic Areas

PPP mode,that is,the cooperation mode between government and social capital,is promoted and applied by governments in the field of infrastructure construction because it can effectively bear the financial pressure of the government and improve the efficiency of resource allocation.In 1994,PPP model was widely implemented in China to solve the problem of shortage of public infrastructure service funds.Today,although PPP model has been implemented in China for many years,the contrast with its hot trend is that the landing rate of PPP projects is not high,and the difficulty of landing is a common problem in the implementation of PPP in China's public infrastructure.In this context,the low-level landing rate is particularly prominent in Guizhou ethnic areas with relatively backward economic development.The main reason for the low landing rate and difficulty in landing of PPP projects in China is the difficulty in project financing,which is manifested by less participation of social capital.The reason: most of PPP projects in China belong to the field of public service and infrastructure construction.One of the major characteristics of such projects is that infrastructure projects take a long time,resulting in a long operation cycle and low return on investment.There is a big gap between this feature and social capital with strong profitability.Therefore,social capital participation in many PPP projects is prohibitive,dare not try it easily.Especially for regions with relatively backward economic development,it is more difficult for them to reach a consensus.Based on this,this paper takes the PPP project in Guizhou ethnic areas as the research object,on the basis of field research and interviews,with reference to the practice of other scholars,combined with the relevant financing theory and evolutionary game theory of PPP model,uses the game model to analyze the formation mechanism of PPP project financing difficulty in Guizhou ethnic areas,and further deduces the conditions of different equilibrium points,and then uses cases to Finally,on the basis of theoretical and empirical research conclusions,the paper puts forward suggestions and Countermeasures to improve the landing rate of PPP projects in Guizhou ethnicareas.In the evolutionary game model of this paper,the participants are the government departments in Guizhou Ethnic Areas and the social departments who intend to participate in the PPP project in Guizhou ethnic areas.In order to clarify the issues explored in this paper,the two participants are assumed.One is that the government departments and the social departments are both of limited rationality,that is to say,both of them will choose the strategy according to the inertia,that is,both of them are based on the Limit information to make strategies they think are reasonable.The second is to assume that the behavior strategies of government departments and social sectors are: whether the government departments adopt incentive policies to cooperate with social sectors and whether the participation of social sectors is active or general.The income function of both sides of the game is constructed and solved by the replication dynamic method.The final conclusion of the game analysis is that only when the government departments implement incentive measures for the social capital participating in the project,and the social capital participating in the project responds to it with a positive attitude of cooperation,the two sides of the game can form a good interaction,and finally reach the Pareto optimal state.On the basis of theoretical model analysis,this paper selects each PPP case of success and failure in Guizhou ethnic areas for example analysis,and the conclusion is consistent with the theoretical analysis conclusion: the best cooperation is that the government departments of Guizhou Ethnic Areas encourage the social departments participating in the project,and the social capital responds to it with a positive cooperation attitude,which is also to promote Guizhou Ethnic Areas' cooperation Important factors for the successful implementation of PPP projects in ethnic areas.Focusing on the goal of improving the landing rate of PPP projects in Guizhou ethnic areas,according to the research conclusion of theoretical and case analysis,this paper puts forward some suggestions.First,improve and perfect the PPP system framework and regulatory system,second,improve the construction of Guizhou PPP project,and promote the project financing government to continue to promote various forms of incentive policies.For example,the government departments should strengthenincentives for the PPP projects that are gradually developing into poor quality and balanced development in Guizhou ethnic areas,while for more stable PPP projects,they can slowly reduce incentive policies and incentive costs.Finally,we should reduce the incentive cost of the government.