Mathematical Problems in Engineering / 2018 / Article / Tab 1

Research Article

Efficiency Analysis of Government Subsidy and Performance Guarantee Policies in Relation to PPP Infrastructure Projects

Table 1

The conditions for the payment of the government subsidy.

External benefitLiquidity shockContinuation or liquidation (without subsidy)Social efficiency SubsidySocial loss



Note. The and signs in the “social efficiency” column mean that the outcomes (continuation or liquidation) after the occurrence of the liquidity shock when only the performance guarantee policy is adopted are socially efficient or socially inefficient, respectively. The sign in the “subsidy” column means that the government pays the subsidy to the SPV, while the sign means that the government does not pay the subsidy. The - signs in the “social loss” column mean that there is no social loss.

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