为了吸引国内外财团、公司企业,以及个人等非政府投资主体投资于中国基础设施项目建设,政府必须对投资者无法通过市场行为进行控制的非市场风险因素提供担保。本文在分析基础设施项目政府担保产生机理及其内涵的基础上,从特许经营、资金管理和环境条件三个方面提出了政府担保的作用机理模型,为进一步研究政府担保价值及担保决策制定提供了理论基础。
In order to attract non-government investors such as consortiums, corporations, and individuals to invest in infrastructures construction, the government provides vouches against non-market risks that investors cannot control through market mechanisms. Based on an analysis of the causes of the rise of government couching and its operational mechanisms, the paper presents a working model of government vouching featuring three elements, namely license operation, capital management, and environment factors. It aims to facilitate policy making as regards government vouching by providing the theoretical basis for further study.