| Title |
A Study on Efficiency of Mixed Model (BTO+BTL) for Public-Private Partnership Projects |
| Authors |
Kim, Do-Il ; Jin, Run-Zhi ; Hyun, Chang-Taek |
| DOI |
http://dx.doi.org/10.6106/KJCEM.2012.13.5.053 |
| Keywords |
BTO(Build-Transfer-Operate) ; BTL(Build-Transfer-Lease) ; Minimum Revenue Guarantee(MRG) ; Mixed Model |
| Abstract |
Korean Public-Private Partnership, mainly implemented using BTO (Build-Transfer-Operate) and BTL (Build-Transfer-Lease) methods, has contributed in increasing benefits of the people by providing the needed public services in a timely and efficient manner. It has also induced flexible national fiscal management. However, in addition to the repeal of the Minimum Revenue Guarantee (MRG) program in 2009, changes in business environment including recent financial crisis aggravated financial situation in pursing PPPs, resulting in significant contraction of BTO projects. Therefore, the new methods are to be suggested and applied to overcome this situation. This paper seeks to find ways to apply "Mixed Model," characterized as the compound of BTO and BTL, two different implementation methods of PPPs, as an enhanced burden-sharing mechanism. |