THE STUDY OF CONCESSION PERIOD FOR BUILDING OPERATE TRANSFER CONTRACT PROJECTS —BASED ON REASONABLE INTEREST OF GOVERNMENT

摘要

The concession period is one of the core elements in the concession agreement for build-operate-transfer( BOT ) infrastructure projects. The concession period is a measure for deciding when the project ownership will be transferred from the investor back to the government concerned; it also demarcates the benefits , authorities, and responsibilities between the government and private investors. Based on the principals of Public and Welfare economics, this paper analyzes the concession period on the angle of view of the BOT project internal attributes, through the standard definition of BOT project inherent attributes, takes the social welfare of BOT project as analysis object, and takes the government on behalf of public interest in the BOT project as analysis perspective, based on this, to define the constraint conditions of the reasonable interest of the government concerned. Then this paper develops an economics model upon the maximal marginal constraint condition of the reasonable interest for the government concerned.