Infrastructure Public–Private Partnership (PPP) Investment and Government Fiscal Expenditure on Science and Technology from the Perspective of Sustainability

Abstract

In the environment of the continuous development of the Public–Private Partnership (PPP) model, China’s “dual circulation” development pattern orientation and “new normal” economic development reform provide the foundation for the development of the PPP model in the field of infrastructure. A good government investment structure and governance environment will help to improve the financial sustainability of infrastructure investment. This paper studies the mechanism of the relationship between fiscal expenditure on science and technology and the development of infrastructure PPP models based on the data of provincial PPP projects in the World Bank database and carries out an empirical analysis. The results show that the positive effect of government fiscal expenditure on science and technology and the development of the infrastructure PPP model in local regions is significant. In addition, intergovernmental competition within the political system of China will have a restraining effect on this relationship. This has certain theoretical and practical significance for the construction and implementation of the mechanism underlying intergovernmental behavior and the infrastructure PPP model.