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Risk Assessment on the Financing Policy of High Speed Railway

Author: MengGuangYu
Tutor: TanKeHu
School: Beijing Jiaotong University
Course: Industrial Economics
Keywords: The construction of high-speed rail Risk assessment Financing model Empirical Analysis
CLC: F530.68
Type: Master's thesis
Year: 2011
Downloads: 218
Quote: 0
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Abstract


The development of high-speed rail to a certain stage the inevitable result of economic development , its social benefits to be much larger than the direct economic benefits of high-speed rail development has been reflected to some extent a country 's level of modernization , a time when large-scale construction in China period of high-speed rail , single investment is not suitable for the needs of the development of market economy , currently , most of the countries in the world using a variety of financing methods , such as PPP, BOT has been successful , China should actively learn from these success stories , change has been since stiffness, a single government investment system , modernization today is a pressing need . View of the literature , our country is based on a macroscopic exposition , did not establish substantive model , data analysis to analyze Therefore , the establishment of an integrated risk assessment model , the risk attributes assessment be quantified to determine the the final risk aversion and risk - sharing to ensure the success of the financing model , it is very necessary . This article is a summary of the financing model of the high-speed rail , as well as the risk assessment model and combing , in the use of mathematical fuzzy theory and fuzzy sort of model to be modified , the establishment of integrated risk assessment model based on trying to be assessed on a variety of risk attributes , limit mode security security financing , risk aversion . In addition, the Taiwan High Speed ??Rail empirical analysis to verify the correctness of the model . Finally, the foreign success of high-speed rail financing mode , one of the specific policy conducted analysis the following conclusions : the central government on the financing of the funds should play a leading role , combined with the local government for the construction of high-speed rail to continue to invest , expand financing channels , select the appropriate financing tools , project financing , to encourage private capital to enter , and make full use of the capital market .

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CLC: > Economic > Transportation and economic > Rail transport and economic > Railway transport economic theory > Organization and management of railway enterprises > Financial Management
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