PPP模式下农业基础设施投资的合同管理和评价方法研究

发布时间：2018-01-06 20:37

本文关键词：PPP模式下农业基础设施投资的合同管理和评价方法研究　出处：《中国社会科学院研究生院》2017年博士论文　论文类型：学位论文

【摘要】：政府和社会资本合作(Public Private Partnership,简称PPP)在我国大力推行,是生产力发展到一定阶段对生产关系的适应性调整,是政府与市场的优势结合。改革开放以来,我国产权制度获得发展,调动了社会资本的积极性,社会资本广泛积累,但是原来依托于土地财政的资本扩张模式,增加了地方债务风险,不利于社会稳定。政府引导社会资本投资于基础设施建设领域和实体经济,有利于促进经济健康增长。未来我国在国际上推行”一带一路”倡议,在国内继续推进城镇化建设和农业现代化发展,都将产生庞大的基础设施建设投资需求,单靠公共财政难以实现供给。通过供给侧结构性改革,采用PPP模式,各种社会资本方以不同方式参与进来,可以用有限的公共财政资金撬动社会资本的更大投入,提高公共产品的供给数量和供给效率。我国尚处于PPP应用的初级阶段,目前在政府的主导与推动下,各行业积极应用PPP模式进行投资,鼓励社会资本进入。随着社会实践的发展,PPP应用理论的研究也在相应地开展,主要分为两个方向:一是项目管理链条的延伸,从项目前期投融资管理到项目全生命周期管理;二是行业的深度应用。这两个研究方向同步开展,相互支撑。我国现行管理体制中存在社会资本进入“门槛”,以致于我国PPP推行至今存在着项目落地难、签约率低、社会资本观望等问题。这些“门槛”主要包括政府缺乏履约习惯与信用、违约成本太低、项目信息披露不完全等。多数研究认为地方政府违约的原因在于主观因素,主张健全PPP法律,倡导契约精神。本论文假设地方政府具有契约精神,愿意执行符合经济合理性的合约协议,认为地方政府违约行为受到客观因素的影响,即由于PPP项目投资合同谈判的行事方法与传统政府投资项目的行政管理模式不同,缺乏谈判经验,或对项目经营的信息不对称等原因,而在项目前期的合约谈判中处于劣势,合约执行后违背其经济合理性,由于减损需要而选择代价更低的违约行为。与传统政府投资项目管理不同,PPP项目各投资方的权责利在项目前期的合约谈判时就需清晰界定,并在投资合同协议中具体呈现。本论文认为进一步解放生产力,对生产关系进行微调,需要从经济学的角度研究PPP投资合作,重视PPP项目投资合同协议的管理,并基于合同管理建立PPP投资评价体系与相应评价方法,从而降低社会资本的进入“门槛”。合作的成功之道是选择一个好的合作对象共同实施一个好的项目,同时必须辅之于共同约定与持续协商。以政府与社会资本协作,加快项目“落地”签约,提高项目成功率,确保项目投资资金安全性为目标导向,构建的PPP项目评价方法体系应包括“选择一个好的合作对象”的财政可承受能力论证与信用评价,以及“实施一个好的项目”的物有所值评价、财务评价等。本论文认为PPP项目政府投资评价体系应由物有所值评价、财政可承受能力论证、信用评价、财务评价组成。财务评价模型的构建依托于国内投资项目财务评价的一般模型,针对PPP项目特点进行修正与调整,重点关注项目基准收益率、社会资本方投资收益率、投资回收期、股权结构、投资人出资比例、政府补贴等评价指标。物有所值评价是对项目主体的评价,衡量项目采用PPP模式是否比传统采购模式更有效率,是国际上通行的项目决策工具,分为物有所值定性评价和定量评价。财政可承受能力论证是衡量项目对地方政府财政支出责任的影响,是对政府客观履约能力的调查与评估,有利于防范债务风险。目前财政部主导发布了PPP项目物有所值评价指引(试行)和财政可承受能力论证指引,对评价活动进行了规范,但是国外的方法引入国内存在“水土不服”的情况,特别是我国PPP项目基础数据不完善、风险量化困难等,实践中其准确性受到许多质疑,仍然存在许多值得探讨的问题。信用等级评价是对地方政府的主观履约意愿进行调查与评估,借鉴了尽职调查或谨慎性调查的信用评价方法,运用于PPP项目评价领域,建立地方财政信用等级评价体系。本论文采用文献研究、理论研究、实证研究、案例研究等研究方法,借鉴PPP模式项目评价和农业基础设施投资的国际应用经验,一方面研究我国农业基础设施投资领域应用PPP模式的方法,另一方面从经济学角度讨论了PPP投资项目的合同管理和项目评价问题。本论文运用最新年鉴数据,通过计量分析,认为农业固定资产投资对农业经济增长具有显著影响。论文在总结我国农业基础设施发展历史经验和投资现状的基础上,认为“十三五”期间,我国继续推进新型城镇化与农业现代化战略,推动城乡基础设施和公共服务均等化,加快改善农业基础设施,实施一批重大农业工程,将对农业基础设施投资供给形成压力,有必要调动社会资本积极性,缓解地方政府财政支出压力。论文研究PPP模式在我国农业基础设施领域的运用,细化基础设施分类,界定投资范围等,并对现行存在的问题提出建议。本论文将规制经济学的激励合约理论运用于PPP合同管理领域,讨论和分析了适合我国政府和社会资本在基础设施投资领域合作的最优激励合约,构建了政府补助定价的修正模型。本论文对现行投资项目财务评价模型,针对PPP项目特点进行修正和调整,构建了PPP项目政府财务评价模型;总结了目前正在讨论过程中的物有所值定性评价与定量评价、财政可承受能力论证两种评价方法的应用;提出应探索进行信用等级评价,试图通过财务评价、物有所值评价、财政可承受能力论证、信用等级评价来构建PPP项目的评价体系。
[Abstract]:The government and social capital cooperation (Public Private Partnership, referred to as PPP) in our country carried out energetically, productivity development to a certain stage of adjustment of the relations of production, is a combination of government and market advantage. Since the reform and opening up, get the development of China's property rights system, mobilize the enthusiasm of social capital, social capital accumulation widely but the original, relying on the capital expansion mode of land finance, increase the risk of local debt, is not conducive to social stability. The government and guide social capital to invest in the infrastructure construction sector and the real economy, is conducive to promoting healthy economic growth. The future of China's implementation of "The Belt and Road" initiative in the international arena, continue to promote urbanization and the development of agricultural modernization in China, will have a huge demand for infrastructure investment, rely on public finance to realize the supply. The supply side structural reform, mining In PPP mode, all kinds of social capital to participate in different ways, can use more investment limited public funds to leveraging social capital, improve the supply of public goods in quantity and supply efficiency. Still in the primary stage of the application of PPP in China, is currently in the leading factor of the government and the industry to actively promote, the application of PPP model for investment, encourage social capital. With the development of social practice, research on the application of PPP theory in the corresponding development, mainly divided into two directions: one is the extension project management chain, investment and financing from project management to the project lifecycle management; two is the depth direction of the two industry applications. A study carried out simultaneously, and support each other. Social capital into the "threshold" of the existing management system in our country, so PPP in China since the implementation of the project ground to exist, the low rate of signing, social capital - etc. The problem. The "threshold" mainly includes the lack of government performance habits and credit default cost is too low, the project information is not disclosed. Most studies suggest that local government default is the subjective factor, it advocates to perfect PPP law, promote the spirit of contract. This paper assume that the local government has the spirit of contract, willing to carry out the economic rationality of the contract agreement with that, the local government default behavior is influenced by objective factors, that is because the method of PPP project investment contract negotiation act and the traditional administrative management mode of government investment projects, the lack of experience in negotiating, or project management information asymmetry and other reasons, and in the project contract negotiations at a disadvantage, after the execution of contract violation due to its economic rationality, detract from the needs and the choice of price lower default behavior. Unlike the traditional management of government investment projects, the investment project PPP The management responsibilities in the project contract negotiations should be clearly defined, and embodied in the investment contract. This paper believes that further liberate the productive forces, the fine-tuning of the relations of production, need from the angle of economics research of PPP investment cooperation, pay attention to PPP project investment contract management, and based on the contract to build the PPP investment evaluation system and evaluation method of management, so as to reduce the social capital into the threshold. The success of cooperation is to choose a good partner to jointly implement a good project, also assisted in the common agreement and must continue to negotiate. Based on the government and social capital cooperation, speed up the project "landing" sign and improve the success rate of the project, to ensure the safety of investment funds as goal oriented evaluation system construction of the PPP project should include "a good partner" financial bearing The ability of argumentation and credit evaluation, and the implementation of "a good project" value evaluation, financial evaluation and so on. This paper argues that the government investment project evaluation system should be PPP value evaluation, financial capacity proof, credit evaluation, financial evaluation. A general model of financial evaluation model based on financial evaluation of domestic investment projects, revise and adjust according to the characteristics of the PPP project, the project focused on the benchmark rate of return, social capital investment returns, the equity structure of the payback period, investors, investment proportion, government subsidies and other evaluation index. Value evaluation is the evaluation of the main project, measure the project using PPP model is better than the traditional procurement model is more efficient, project decision-making tools of international division, value of qualitative evaluation and quantitative evaluation for the object. The financial capacity is a measure of demonstration project Effect of fiscal expenditure of local government responsibility, is the investigation and assessment of government performance objectively, to guard against the risk of debt. The Ministry of Finance released the PPP project value evaluation guidelines (Trial) and the financial affordability guidelines demonstration, evaluation of the activities of the specification, but foreign introduced domestic existence "the situation is particularly The climate does not suit one.", China's PPP project data is not perfect, risk quantification is difficult in practice, its accuracy is questioned by many, there are still many problems worth discussing. Credit rating is the local government's subjective performance will survey and assessment, from the credit evaluation of due diligence or prudent investigation the method is applied to the PPP project evaluation field, establish the system of local finance credit rating evaluation. This thesis adopts literature research, theoretical research, empirical case. Research and other research methods, from the international experience of PPP project evaluation and application mode of agricultural infrastructure investment, method of research and application of PPP model of agricultural infrastructure investment in China on the one hand, on the other hand, discusses the problems of contract management and project evaluation of PPP investment project from the angle of Economics. This paper uses the latest yearbook data, through quantitative analysis shows that agricultural investment in fixed assets has a significant impact on agricultural economic growth. Based on summarizing historical experience and development status of agricultural infrastructure investment in China, that the "13th Five-Year" period, China continues to promote the new urbanization and agricultural modernization strategy, promote urban and rural infrastructure and public service equalization, speeding up improve agricultural infrastructure, the implementation of a number of major agricultural engineering, put pressure on agricultural infrastructure investment, it is necessary to mobilize social capital accumulation Polarity, alleviate the fiscal expenditure of local government pressure. The application research of PPP mode in China's agricultural infrastructure field, classification of infrastructure, to define the scope of investment, and puts forward some suggestions on the existing problems. The incentive contract theory of regulation economics applied in the field of PPP contract management, discussed and analyzed for the best of our government and social capital cooperation in the field of infrastructure investment incentive contracts, constructs a pricing correction model government. This paper studies the financial evaluation model of existing investment projects, revised and adjusted according to the characteristics of the PPP project, the construction of government financial evaluation model of PPP project; summarizes the currently being discussed in the process of money the value of qualitative evaluation and quantitative evaluation, financial evaluation methods can be used two kinds of demonstration capacity; we should explore the credit rating, trying to finance The evaluation system of the PPP project is constructed by the evaluation of business, the evaluation of the value of material, the demonstration of the financial affordability and the credit rating.

【学位授予单位】：中国社会科学院研究生院
【学位级别】：博士
【学位授予年份】：2017
【分类号】：F283;F323

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