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Social Capital Participation in Public-Private Partnership Projects in China: Do Government Credit Risks Matter?
In China the Public-Private Partnership (PPP) projects
are adopted to achieve the
strategic goals of governments and to ensure the
sustainable operation of local government finances. However, rigorous empirical
research on the determinants of social capital’s participation in PPP is sparse.
This study investigates the effects of government behaviors on the participation
of social capital in the PPP projects by focusing on the role of government
credit risks. We construct a dynamic game and adopt an empirical analysis using
panel data of Chinese provinces from 2013 to 2018. Our findings reveal a
significant inverse relationship between the government credit risk and the
social capital participation in PPP. It provides policy-makers and researchers with
useful information about using the PPP to promote investment on infrastructures
while ensuring a sustainable local fiscal system.
History
Declaration of conflicts of interest
None.Corresponding author email
cwu@plymouth.eduLead author country
- United States
Lead author job role
- Higher Education Faculty 4-yr College
Lead author institution
Plymouth State UniversityHuman Participants
- No