| 中文摘要 | 第6-8页 |
| Abstract | 第8页 |
| 1. Introduction Chapter | 第9-21页 |
| 1.1 Background | 第9-12页 |
| 1.2 Research Problem | 第12-14页 |
| 1.3 Research Questions | 第14-16页 |
| 1.4 Purpose | 第16-18页 |
| 1.5 Literary review | 第18-21页 |
| 2. A potential market for project bond | 第21-45页 |
| 2.1 Infrastructure needs:Europe, Asia-Pacific, Latin America | 第21-27页 |
| 2.2 Framework of policy and Institutions:Europe, Asia-Pacific, Latin America | 第27-31页 |
| 2.3 How is the demand of infrastructure supplied today? | 第31-38页 |
| 2.3.1 The loan market:impact of Basel Ⅲ of the project finance industry | 第31-33页 |
| 2.3.2 Project bonds: financing infrastructures throughout the capital market | 第33-36页 |
| 2.3.3 Project bond market today:drivers, rating and different degree of development across the region | 第36-38页 |
| 2.4 The Europe 2020 Project Bond Initiative | 第38-45页 |
| 2.4.1 Objective of the Initiative and credit enhancement mechanism | 第39-42页 |
| 2.4.2 The Project Bond Pilot Phase | 第42-43页 |
| 2.4.3 The opinion of the credit rating agencies | 第43-45页 |
| 3. Project Bond Investors | 第45-53页 |
| 3.1 Infrastructure as an asset class | 第45-46页 |
| 3.2 Project bond placement and target investors:the benefit of the private placement | 第46-48页 |
| 3.3 The role of infrastructure funds as bondholder | 第48-51页 |
| 3.4 ECA's wrapped bond:strategies to attract institutional investors in the project bond market | 第51-53页 |
| 4. Determinants of the credit spread:focus on Europe, Asia-Pacific, Latin America | 第53-75页 |
| 4.1 Data and Methodology | 第53-68页 |
| 4.1.1 Data Source and Data Universe | 第54-57页 |
| 4.1.2 Dataset | 第57-62页 |
| 4.1.3 The Choice of the variables to test | 第62-65页 |
| 4.1.4 The Fixed Effect Methods | 第65-68页 |
| 4.2 Empirical Findings:the future of the project bond markets | 第68-72页 |
| 4.3 Implication for the future of the project bond market | 第72-75页 |
| 5. Conclusions | 第75-77页 |
| 6. Appendix | 第77-84页 |
| 7. Bibliography | 第84-90页 |
| Ackowledgement | 第90-91页 |
