Effects of Public Infrastructure on Cost Structure and Productivity in the Private Sector

This paper examines the effects of public infrastructure on the cost structure and productivity in the private sector in Australia. Translog cost functions incorporating public capital infrastructure are estimated for the aggregate private sector as well as for seven broad industry groups using annual time series data for 1968/69–1995/96. The effects of public infrastructure on productivity are measured in terms of both cost-saving and output-augmenting measures. The empirical results suggest that public infrastructure has a positive and significant impact on productivity in private sector industries. Public capital serves as a substitute for both private capital and labour. The rates of return to public capital are significant and vary over the sample period.     

Public Sector Rationing and Private Sector Selection

We study the interaction between nonprice public rationing and prices in the private market. Under a limited budget, the public supplier uses a rationing policy. A private firm may supply the good to those consumers who are rationed by the public system. Consumers have different amounts of wealth, and costs of providing the good to them vary. We consider two regimes. First, the public supplier observes consumers’ wealth information; second, the public supplier observes both wealth and cost information. The public supplier chooses a rationing policy, and, simultaneously, the private firm, observing only cost but not wealth information, chooses a pricing policy. In the first regime, there is a continuum of equilibria. The Pareto dominant equilibrium is a means‐test equilibrium: poor consumers are supplied while rich consumers are rationed. Prices in the private market increase with the budget. In the second regime, there is a unique equilibrium. This exhibits a cost‐effectiveness rationing rule; consumers are supplied if and only if their cost–benefit ratios are low. Prices in the private market do not change with the budget. Equilibrium consumer utility is higher in the cost‐effectiveness equilibrium than the means‐test equilibrium.     

一个中国私营部门发展模型

为讨论民营化、市场化对中国私营部门发展的影响,本文根据中国企业行为模式建立了一个简单经济数学模型。该文认为,由于中国的国有企业、私营企业和其他经济实体具有偏离利润最大化的多重目标,与单纯追求利润最大化的企业比较,它们倾向于利用更多的劳动力和资本生产更多的产品,但是,它们却只能获得更低的利润甚至亏损。这是中国经济高增长低效率的原因。本文还讨论了非利润目标和“准入成本”对企业数量和规模的影响。另外,模型分析表明,企业的管理能力和企业规模之间存在匹配问题,是中国的渐进式改革成功与俄罗斯大爆炸式改革失败的部分原因     

Delegating Infrastructure Projects with Open Access

This paper provides a simple model that examines a firm's incentive to invest in a network infrastructure through coalition formation in an open-access environment with a deregulated retail market. A regulator faces a dilemma between inducing an incentive for efficient investment and reducing the distortion generated by imperfect competition. We show that, in such a case, the degree of the cost-reducing effect of the investment is crucial from a welfare point of view. In particular, when network investment through coalition formation creates a large (small) cost-reducing effect, the regulator can (should not) delegate an investment decision to firms with an appropriate level of access charge.     

浅议私营企业财务管理

在市场经济的不断完善中,私营企业得到了前所未有的发展,它们不但成为各地经济增长的主力军,而且在创造税收、增加就业等方面发挥着积极作用。然而私营企业在发展过程中,仍有相当一部分企业处于“高出生与高死亡率”的状态。由于财务管理水平是影响私营企业发展的一个重要因素,因此将针对中国私营企业财务管理的有关问题进行研究,希望能有助于中国私营企业的健康发展。     

Are Private Sector Consumption Decisions Affected by Public Sector Consumption?

This paper looks at the interaction between public and private consumption in Australia. The results show that there is a long-run equilibrium relation between private and public consumption. However, the nature of this relation changed during the 1980s from one of complementarity to one of substitutability.     

Contracting for Infrastructure Projects as Credence Goods

Large infrastructure projects are a major responsibility of urban and regional governments, who usually lack expertise to fully specify the demanded projects. Contractors, typically experts on such projects due to experience with similar projects, advise of the needed design as well as the cost of construction in their bids. Producing the right design is costly. We model such infrastructure projects taking into account their credence goods feature and the costly design effort they require and examine the performance of commonly used contracting methods. We show that when building costs are homogeneous and public information, simultaneous bidding involving shortlisting of two contractors and contingent compensation of both contractors on design efforts outperforms sequential search. If building costs are private information of the contractors and are revealed to them after design cost is sunk, sequential search may be superior to simultaneous bidding.     

基于云模型的基础设施项目可持续性评价

基础设施项目可持续性评价是基础设施项目决策的重要组成部分。在文献研究的基础上,构建了城镇基础设施项目可持续性评价指标体系。在评价过程中,针对基础设施项目可持续性表现出的随机性和模糊性等特点和评价过程中决策者可能存在的属性状态偏好,引入云模型描述基础设施项目可持续性的各属性,实现了基础设施项目可持续性的不确定性度量,并通过惩罚因子对属性值进行修正,提出了基于云模型的基础设施项目可持续性评价方法。     

Public–Private Sector Wage Differentials in Australia

This paper examines public–private sector wage differentials in Australia. After controlling for observed characteristics and individual fixed effects, we show that on average workers in the public sector earn about 5.1 per cent more in hourly wages than those in the private sector. The wage premium is slightly higher for females than males. Using a panel data quantile regression model with fixed effects, we show that the positive wage effects of public sector employment are heterogeneous, with comparatively larger impact at the lower end of the wage distribution than at other parts. We also find evidence of heterogeneity in the public sector wage premiums by qualification, time period, occupation and state/territory.     

民间资本参与风险投资问题研究

现阶段对风险投资的研究多集中在于其退出机制，而对风险资本来源问题，特别是民间资本参与风险投资问题却很少涉及。本拟就民间资本参与风险投资所涉及的观念误区，制度安排以及内在机制等问题人一尝试性的分析解释，并借鉴国外经验给出我国民间资本参与风险投资的目标模式。     

关于城市基础设施项目融资结构框架的研究

目前,许多城市政府采取BOT、TOT、PPP模式进行城市基础设施建设.但是在建设中发现,运用单一的BOT、TOT、PPP模式进行建设时,由于环境的变化,往往会打破项目相关群体原有的收益与风险的平衡,激化项目利益相关群体之间的矛盾,导致项目出现危机.本文提出了城市基础设施集成融资结构框架,即把城市基础设施项目分解为若干个子项目,根据各个子项目的特点分别采取不同的融资方式,并在项目运行过程中根据环境的变化及时变更或组合为其他的模式.以适应环境的变化,保证城市基础设施项目建设的顺利实施.     

How (Not) to Foster Innovations in Public Infrastructure Projects*

The government wants an infrastructure‐based public service to be provided. First, the infrastructure has to be built; subsequently, it has to be operated. Should the government bundle the building and operating tasks in a public–private partnership? Or should it choose traditional procurement (i.e., delegate the tasks to different firms)? Each task entails unobservable investments to come up with innovations. It turns out that, depending on the nature of the innovations, bundling can either stimulate or discourage investments. Moreover, we find that if renegotiation cannot be prevented, public–private partnerships might lead the government to deliberately opt for technologically inferior projects.     

市政公用基础设施项目后评价管理研究

由于投资项目后评价要对立项决策、施工建设、生产经营、投资效益和环境影响等作出全面评价,它需耍大量的资料和数据。文章介绍了市政公用基础设施项目后评价管理信息系统的设计目标,详细规定了系统开发环境、系统构架和系统功能,对促进我国后评价工作的普遍开展有一定的帮助。     

利益集团、逆市场选择与国进民退

当前蔓延全国的国进民退现象进一步恶化了国内的就业、分配、产业结构失衡与机会不均等问题,使民主与法制倒退,最终有可能导致现代化的夭折。只有深刻认识到当前国进民退的逆市场化本质以及国进民退产生的社会根源,充分认识利益集团对改革方向的误导以及对现代化造成的严重危害,我们才能采取有效措施逆转当前的国进民退,打破利益集团对资源的垄断,进一步完善市场经济体系,不断推进市场化的发展。