The measurement research on government subsidy of urban rail transit PPP project under uncertainty of revenue

2018 International Conference on Civil and Hydraulic Engineering

土木建筑工程;水利工程

Chunling, Sun^1 ; Susut, Ma^1 ; Dieyuan, Xv^1

School of Management, Tianjin University of Technology, Tianjin

300384, China^1

关键词: Government subsidies;    Investment subsidy;    Market mechanisms;    Measurement research;    Operating periods;    Operation period;    Policy recommendations;    Urban rail transit;   

Others  :  https://iopscience.iop.org/article/10.1088/1755-1315/189/6/062064/pdf
DOI  :  10.1088/1755-1315/189/6/062064

学科分类：土木及结构工程学

来源: IOP

【 摘 要 】

In the process of promoting urban rail transit PPP projects, there are still obstacles in terms of laws, market mechanisms, risk allocation mechanisms and project revenue. This paper studies the impact of government subsidy on project revenue, and uses real options to build a government subsidy model of the rail transit PPP project. Meanwhile, the model is verified by an example. The results show that the two subsidy methods are more in line with the interests of both the government and the private sector. The aim is to provide a criterion and method for the government to determine the subsidy amount. Finally, under the framework of the subsidy combined pre-investment and operation period, the paper analyzes the nature of investment subsidy, operating period subsidy, passenger flow threshold and volatility, and expected return rate. The paper show some policy recommendations to provide a good policy environment for the development of rail transit.