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| The Infrastructure Investment Efficiency of Public Capital and Private Capital |
| TANG Qing-quan ZHEN Li-ming LI Yi-dong |
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Abstract This paper studies the investment efficiency, structure and its influence factors of both public and private capital investing in infrastructure. The main findings are as follows：（1）An Efficient infrastructure investment needs both public capital of government and private capital of market, their proportion and efficiency seems like an inverse U, and the best proportion approximates to 1:2; furthermore, the capital of private is more effective than that of public for its behavior of Pursuing profit.（2）The investment of private capital is influenced by the inhabitant consumption level, the market degree and the drive of public capital, while the investment of public capital is influenced by the governing level of local government, the relationship between government and market as well as the GDP. These results show that government couldn't drop out the investment market of infrastructure, “public” and “private” co-existence could lead to a good result of infrastructure invest
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Received: 06 May 2008
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Corresponding Authors:
ZHEN Li-ming
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2008, Vol. 1 
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