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In PPP projects, the investment return level depends largely on the governmental support intensity. Thus, it is necessary to find a way to quantify the value of governmental support. This paper presents an approach that evaluates the governmental support quantitatively under different combinations of types and intensities with Monte Carlo simulation via calculating difference between the Internal...
To address the shortage of supply of urban infrastructure, a large amount of private capital is required to participate in construction and operation of the urban infrastructure project. At present, the policy has allowed the private capital to participate in such project through project financing pattern (such as BOT, TOT and PPP, etc.). In order to attract more private capital to participate in...
Home-appliance replacement may be implemented in two situations: with and without the financial subsidy offered by the government. As the implement entity of the home-appliance replacement, the enterprise may have two choices: with and without the replacement. In this paper, we analyzed the behaviors of the government and the enterprise based on a mixed-strategy game by system dynamics methodology...
The global financial crisis sprang from the Wall street have swept all the world, the financial markets and real economies in developed countries are badly affected. As the world's third largest economy, china can not sit idly. Affected by the crisis, in 2008 China's economic growth began to decline from the peak and declined quarter by quarter, the annual growth rate was 8% of the troika that promtes...
Since reform and opening up to the outside world, rapid industrialization and urbanization in China have played an important role in the increase of energy consumption. China became the second energy consumption country all over the world in 2008. As a big country in energy consumption, forecasting energy consumption is one of the most important tools for energy policy setting. Although there are...
Operating municipal infrastructure projects are a special operation model that the Government and the project investors achieve the operating infrastructure projects by signing infrastructure concession contracts. This paper is aimed at the feature of operating infrastructure projects to achieve the objective of maximizing the value of the projects, under the conditions the concession period and the...
China water service has been monopolized by the state enterprises in a long-term, in order that Chinese water industry has assumed in distinction between the functions of the government and those of enterprises. State enterprises have no competition, lack of motivation to improve business management and reduce costs, but they do not regard economic benefits as the core objective. The government monopoly...
When economists and politicians discuss the policies that could raise growth rates, usually fiscal policy takes centre stage. Using yearly data set from 1952 to 2008, this paper has proposed to use linear Granger causality to investigate the relationship between government expenditure and economic growth in China. The study finds that there is a strictly bidirectional Granger causality between the...
Rural economy in China cannot develop without financial support. Firstly, this paper analysis the process of the development of agricultural policy finance and Current rural finance's imperfection; Secondly, we analyzed features and challenge on policy rural finance; and finally we pointed out the path to construct rural policy finance in China. Under present condition, it is imperative for the government...
Public transportation is a relatively high-capacity and energy-efficient alternative for urban passenger transportation. With the development of society and economy, demand for public transportation increased dramatically in Shanghai. This paper probed into the public transportation system in Shanghai, evaluated its development. Based on current situation and trend in public transportation, the strategy...
Based on open data of U.S., Japan, Korea, Chinese, we do a comparative study of external funds support for Small and medium-sized enterprises (SMEs) independent innovation. We find that there are varying degrees of problems in promoting independent innovation in China, especially financial system is still not fully play its role in risk diversification and sharing. Strength of the government is still...
A new method based on the integration of evidence theory and unascertained measure is put forward for the government investment projects evaluation. The dimensions of index system are reduced by evidence theory. Then, the data of the indexes reduced is input into unascertained measure. Empirical study has shown that the method used in the government investment projects evaluation is feasible and reliable.
In this paper, we construct an open-economy dynamic stochastic general equilibrium (DSGE) model to study the impact of the technology shocks on monetary policy in China. We find technology shocks have a more significant and direct impact on both monetary policy transmission channels and targets in China. It is necessary to pay close attention to technology shocks in making monetary policy and respond...
Government financial support for agriculture plays an important role in both agricultural economic development and farmers' income growth. However, China's public finance investment in the agricultural sector has being insufficient and inefficient for a quite long time. Based on the empirical analysis between government expenditure in agricultural sector and from 1985 to 2006 in Jiangsu province,...
On the research of the economic effects of national debt, the Ricardo equivalence proposition(REP) is definitely the core issue and has been brought far-reaching influences as well. The REP has a very important policy implication, that is, the government debt failed to bring any changes of the aggregate social demand, and hence no changes to the national income either. To say it more clearly, if the...
The financing problem of municipal infrastructure project is complicated system engineering. It relates to lots of factors and the relationships among these factors are also complex. It should synthetically consider the interaction of these factors when municipal infrastructure project carries out financing and confirms key influencing factors to go along prior controls. The paper systematically analyses...
Governments and Investors are both interested in the petroleum fiscal systems operating in various countries. Governments aim to attract investors, whereas investors are continually searching for markets which provide the rewards commensurate with the risk they will take. Using fiscal tools, governments can make their upstream petroleum regimes more attractive to investors, by providing greater rewards...
BT model is widely introduced into infrastructure project (IP) in China. The core issue in the operation process of BT project is that the government sector's confirmation of the repurchase price (RP) and payment methods influences the interests of both sides. However, the theoretical studies and relevant legal system on the issues above are relatively insufficient. This paper defines the concepts...
This paper presents an empirical study of the innovation efficiency in Chinese high-tech industry and its subdivision determinants, based on the panel data of 17 individual four-digit high-tech industries from 1996 to 2007 and the methods of Malmquist-Tobit. The results indicate that technological progress promoting the innovation efficiency level while technical efficiency are completely offset this...
This paper mainly discusses the optimal risk-sharing contract for BOT projects. For the private company, because of the uncertainties, coming from supply and demand, they cannot evaluate or is unwilling to bear the huge risks. So the society will be confronted with a long term shortage of infrastructures. Through applying the guaranteed lowest income for companies and competitive bidding, government...
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