Temporal and Spatial Evolution of Public–Private Partnership (PPP) Project Risks in China: 2003–2019

Table 1

Risk index system of PPP project (positive and negative perspective).

The standard layer	First-level elements	Secondary elements	Indicator form	Index unit	Indicator attribute	Reference documentation
Driving force	Economic risk	Local economic situation	GDP	Billions of dollars	Forward direction	[40]
		Local fiscal situation	Fiscal and public budget revenue	Billions of dollars	Forward direction	[41]
Driving force	Financial risk	Government debt	Bank loan balance	Billions of dollars	Backward direction	[42]
		Financing situation	Total investment of PPP project	Billions of dollars	Opposite direction	[43]
Pressure	Ecological risk	Ecological environment governance	Total investment of pollution control	Billions of dollars	Backward direction	[44]
Pressure	Technical risk	Technological level	R&D funds	10,000 dollars	Forward direction	[45]
Pressure	Management risk	Management capability	Level of higher education received	Number of people	Forward direction	[46–48]
		Efficiency of the administrative system	Government efficiency	%	Forward direction	[49]
State	Social risk	Public health emergency of international concern	Value added of administrative review and administrative appeal cases	Number of packages	Backward direction	[50]
State	Natural disaster risk	Losses caused by events of force majeure	Direct economic losses caused by natural disasters in that year	Billions of dollars	Backward direction	[51]
Impact	Political risk	Corruption	Duty crime + corruption	Number of people	Backward direction	[52]
Impact	Credit risk	Government credit	Staffing changes for public officials	Thousands of people	Backward direction	[53]
		Social capital credit	Number of enterprises discredited	Number of packages	Backward direction	[54]
Response	Market risk	PPP market competition	Number of PPP projects	Individual	Backward direction	[55]
		Raw material price volatility	Building materials price index	%	Backward direction	[50]