The Moral Hazard Issues in the PPP Projects

摘要：

This paper analyzes moral hazard issues in PPP (Private-Public-Partnership) projects.Moral hazard is classified into two types:the Special Purpose Company”s (SPC) and the bank”s moral hazard.In a regular tender process,the SPC”s moral hazard cannot be deterred.A reserve tender system can do it better in deterring the SPC”s moral hazard,though at the same time it might induce the bank”s moral hazard.Furthermore,the SPC”s moral hazard is triggered once the bank”s moral hazard occurs.The paper concludes that the bank”s monitoring is valid for the deterrence of the moral hazard of the SPC and the bank.

关键词： PPP moral hazard regular tender reserve tender monitoring

作者: SHI Lei Masamitsu Onishi Kiyoshi Kobayashi

作者单位: Dalian University of Technology, Dalian 116024, China; Kyoto University, Kyoto 615-8540, Japan

会议类型: 国内会议

会议名称: 2007年公共事业/基础设施项目特许经营国际会议

会议地点: 大连

会议语种:英文

页码: 251-264

在线出版日期: 2007-07-24（万方平台首次上网日期，不代表论文的发表时间）