Public-Private Partnership and Policy Uncertainty

This book aims to explore the investment decision-making of private enterprises from the perspective of policy uncertainty in the process of cooperation between the government and social capital. The vitality of private capital is an important means of promoting economic development and expanding social employment. This book includes the following contents: taking the investment willingness of private enterprises as the analysis unit, based on institutional theory, resource dependence theory, enterprise behavior theory, etc., systematically constructing a theoretical framework of policy uncertainty-investment confidence-enterprise investment; explores the connotation and internal causes of the uncertainty of PPP policy, and constructs a central and prefecture-level city policy uncertainty text thesaurus, measurement system, and quantitative indicators; explores the impact of policy uncertainty on investor confidence and the adaptability of private enterprise operations, and analyzes the constraint or promoting effects of innovation vitality and industrial structure on policy uncertainty; explores the spatial spillover effect of local PPP policy uncertainty on private enterprise investment. This book tests the hypothetical relationship between policy uncertainty, investment confidence, and private enterprise investment based on policy texts, PPP listed company information, and identifies key factors affecting private enterprise cooperative investment. This has important academic value for enriching institutional theory, expanding PPP research, and has significant theoretical and practical value for promoting social capital investment and stimulating the vitality of private enterprises.

In addition to students, teachers, and researchers in the areas of firm behavior, public economics, public administration, and public policy, this book is also of great interest to policy makers, planners, and non-government agencies who are concerned with understanding and addressing issues related to the cooperation of government and social capital in developed and developing countries.

Explores the allocation of property rights between enterprises and government projects Examines aspects i e mechanical testing, tribological behavior, phase transformations, bioactivity, coatings, etc Bridges knowledge gaps in material characterization and inspires innovative approaches to designing nanomaterials

Autorentext
Dr. Weijie Luo is an associate professor in economics at Beijing International Studies University (BISU). Prior to joining BISU, Dr. Luo was an associate professor in economics at the Central University of Finance and Economics, and an associate lecturer in economics at the University of York, where he completed his PhD in economics. He also served as a visiting researcher at the University of Cambridge in 2018. His research interests are in macroeconomics, public economics and economic policy. His research work has been published in journals such as Applied Economics, Economics Letters, International Review of Financial Analysis, Pacific-Basin Finance Journal, Policy Studies, Public Performance & Management Review, etc. One of his publication (highly cited paper) received enough citations to place it in the top 1% of the academic field of Economics & Business based on a highly cited threshold for the field and publication year (data from Essential Science Indicators). His monograph Inequality, Demography and Fiscal Policy was published in Springer Nature. He is currently serving as an anonymous referee in journals such as International Review of Financial Analysis, Social Science & Medicine, World Development, etc. His papers won the first prize award for the best PhD paper at the 49th Money Macro and Finance Annual Conference, and the third prize award for youth economics outstanding paper at the Chinese Academy of Social Sciences in 2022. He has obtained research grants from National Natural Science Foundation of China, Beijing Municipal Social Science Foundation, Royal Economic Society, etc.

Inhalt

Introduction.- Literature review.- Economic policy uncertainty.- Monetary policy uncertainty.- Environmental policy uncertainty.- Political uncertainty.- PPP and government debt.- PPP policy uncertainty based on the policiometrics.- Policy uncertainty and firm level investment: evidence from PPP market.- Concluding remarks.