2004 Fiscal Year Final Research Report Summary
Research on cost comparison of Public and Private business in PFI (Private Finance Initiative) by calculating VFM(Value For Money)
| Project/Area Number |
15530160
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| Research Category |
Grant-in-Aid for Scientific Research (C)
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| Allocation Type | Single-year Grants |
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| Section | 一般 |
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| Research Field |
Applied economics
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| Research Institution | National University Corporation Tottori University |
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Principal Investigator |
MITSUTA Nagaharu National University Corporation Tottori University, Faculty of Regional Sciences, Professor, 地域学部, 教授 (60314564)
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| Co-Investigator(Kenkyū-buntansha) |
GOTO Kazuo National University Corporation Tottori University, University Education Center, Associate Professor, 大学教育総合センター, 助教授 (00140533)
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| Project Period (FY) |
2003 – 2004
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| Keywords | PFI(Public Private Partnership) / VFM(Value for Money) / PSC(Public Sector Comparator) / Discount Present Value Rate / Addition and Division Procedure / LCC(Life Cycle Cost) / Total Estimation of Public Competition Tender / Risk Free Rate |
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| Research Abstract |
1.We research on the way of thinking and a concrete calculation of VFM in Japan and other countries.
2.In Japan, we investigate examples by open materials and the materials of local governments.
On VFM calculation in U.K., we research on VFM's framework and practical uses by papers and field surveys.
3.Consequently, we found :
(1)On the cost of public sector, that is, the calculation of PSC, other countries try to various ideas to approximate a concrete value.
In Japan, it is rare case to calculate concrete costs. There are many cases in an estimation stage.
(2)In LCC calculation, which is the cost of private corporation in Japan, it is taken the actual near numerical value on a feasibility study based on intent study.
(3)On discount rate to present value, U.K.strongly has the concept that monetary value should change into present value.
The Ministry of Finance decides its rate. In Japan, the average value of national bonds rate is used in many cases.
(4)In U.K.the numerical value of VFM is discussed in Parliament and administrative agency.
(5)In other foreign countries, the Board of Audit or the like evaluate ex post facto numerical value.
4.In the case of evaluation of the proposal of private enterprises by total evaluation of public competition tender (Sougou Hyouka Ippan Kyousou Nuusatu), that is, addition procedure and division procedure (Kasan Housiki and Zyosan Housiki), we discuss the problems on concrete examples.
We frame a procedure of the comparison of public and private cost.
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Research Products
(11 results)
