Infrastructure Industry: Where is your way out?

Author: Liu Baohua
Publisher:
Publish Date: 2006-01-01
Features: The financing issue of the infrastructure industry is one of the most pressing and challenging problems in contemporary Chinese economy. Its intrinsic causes are not only non-institutional factors such as economic and technical characteristics, cost-benefit characteristics, but fundamentally, it is also an "institutional constraint." Traditional research methods and policy measures that focus on self-exploitation within the infrastructure industry have proven ineffective in completely resolving this issue. This book argues that the only way to address China's infrastructure industry financing problem is to fully leverage the "functional coupling" effect among government regulation restructuring, innovation in the governance model of the infrastructure industry, and deepening financial reform. To this end, the book adopts an analytical perspective of industrial-financial integration, constructs a dynamic transaction cost analysis framework incorporating knowledge and learning theories, and designs a "step-by-step" institutional innovation path for China's infrastructure investment and financing system reform and industrial-financial integration model, as a solution to the problem. This is the core value of the book. It is the first academic monograph in China to systematically discuss the financing issue of the infrastructure industry from the perspective of industrial-financial integration; it also represents an attempt to connect domestic research with strong empiricism in monetary economics to mainstream economic theory paradigms.