Does the PPP Model Relieve Local Government Financial Pressure-An Empirical Study Based on the Data of Chinese Prefecture Level City

Abstract

Abstract: It is of great significance to study whether the PPP model relieves the financial pressure of local governments effectively in the context of rapid growth of PPP projects. Based on the data of prefecture-level cities in 1994-2015, this paper investigates the effect of PPP mode on fiscal pressure by using DID-PSM analysis method and panel data policy evaluation method. The study found that the implementation of PPP model can effectively alleviate the local government financial pressure, and the effect is increasing year by year. At present, PPP project investment scale is bigger, the project average length of life is shorter, and the city financial pressure of the demonstration project declines more. Mechanism identification results show that improving the scale of fixed asset investment in the region is the main channel for PPP to reduce fiscal pressure. Further analysis shows that despite the effect of the PPP model on financial pressures, 80% of local government financial pressures have been significantly reduced.

Key words: public private partnership, financial pressure, DID-PSM, panel data policy evaluation

CLC Number:

F812

MENG Wei, WU Yue. Does the PPP Model Relieve Local Government Financial Pressure-An Empirical Study Based on the Data of Chinese Prefecture Level City[J]. , 2019(01): 63-72.

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