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Keywords

PPP model, policy deviation, financial pressures, spatial lag model

Abstract

In the context of the increasing financial pressure at all levels of local governments, both the central and local governments are vigorously promoting the PPP model as a way to alleviate the financial pressure of local governments, but this is not the case. Based on the PPP data and policy deviation index of prefecture-level cities from 2016 to 2017, the study found that the implementation of the PPP model did not relieve the financial pressure of lo- cal governments. Due to the different level of the policy deviation index, the impact on local fiscal pressure is com- pletely different. That is when it is higher than the average value, it has an aggravating effect, but when it is lower than the average value, it has a weakening effect. After considering the spatial factors, we can more accurately estimate the more significant impact of PPP and policy deviation index on fiscal pressure. This means that only by strengthening the construction of local fiscal revenue and expanding the proportion of central and local fiscal revenue sharing can the local fiscal pressure be fundamentally solved. In the application and promotion of PPP, on the one hand, attention should be paid to the standardization of PPP project construction in various places,and on the other hand, the differences in different places should be taken into consideration.

DOI

10.16315/j.stm.2021.01.009

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