This study uses a dynamic general equilibrium model to compare and analyze the differences of welfare in government project and BTL project. Unlike the government which must maintain a balance between revenue and expenditure, the Public Private Partnership (PPP) which can overcome such budget limitation has proved to be a good alternative to improve the welfare of the national economy. Also, if the government executes effective PPP projects by perceiving future rent as potential cost, it is proved that the high quality public service could be avail-able using the same amount of government revenue.

Given the ongoing discussion on financial burden on the government side, it is necessary to estimate the changes in the national economic welfare incurred by excessive expansion of PPP. Therefore, in this study, assuming that the rent of BTL project was not estimated, potential changes in the national economic welfare caused by the temporary expansion of PPP projects were calculated using a simulation test. The result is that com-pared to conventional government projects, the welfare could be reduced by minimum7% and maximum 15%.

Lastly, this study recommends one of the several alternatives to retrieve the welfare loss of the national economy caused by a temporal expansion of PPP project. The result suggests policy implications as follows: Even when PPP project is expanded and executed without expecting the rent of BTL project to be produced in the future, it is necessary to continue the PPP project. This is because when all the conditions remain the same and the government is not able to overcome the budget limitation, it is possible that PPP project might work as a better alternative to government project.

발간사
요 약

제1장 서 론

제2장 이론적 분석
　제1절 모형 가정
　　1. 공공자본의 건설과 공공서비스의 공급
　　2. 최종재를 생산하는 대표적 기업
　　3. 대표적 가계
　　4. 정 부
　제2절 부분균형분석
　　1. 재정사업을 통한 공공서비스의 공급
　　2. 민간투자사업을 통한 공공서비스의 공급
　　3. 재정사업과 민간투자사업

제3장 일반균형분석과 최적 재정정책
　제1절 일반균형분석
　　1. 자본-노동비율
　　2. 조건부 요소수요함수와 비용함수
　　3. 대표적 가계의 소득
　제2절 재정사업
　　1. 공공자본스톡과 공공서비스 수준
　　2. 노동시간의 배분과 자본의 배분
　　3. 최적 재정정책
　제3절 민간투자사업
　　1. 민간사업자가 제공하는 상대적 공공서비스 수준
　　2. 민간투자사업의 최적 재정정책
　　3. 재정사업과 민간투자사업의 후생 비교 및 논의

제4장 재정사업에서 민간투자사업으로
　제1절 정부가 효과적으로 대응할 때
　제2절 정부가 효과적으로 대응하지 못할 때
　제3절 민간투자사업으로의 전환과 적절한 대안

제5장 결 론

참고문헌