Abstract: The contractual nature of ecological restoration policy enables us to compare and evaluate the performance of different ecological restoration policies from the perspective of transaction cost analysis. In this paper, the ecological restoration policy is divided into three stages:pre-implementation,in-implementation and ex-implementation, on this basis,a measurement model of transaction costs is proposed,and the cost structure index and process performance index of ecological restoration policy are established. Meanwhile,ecological restoration result is integrated into the performance system with the purpose of forming a“process and result”based synthetical performance evaluation mode. As typical example,four kinds of ecological restoration policies which are implemented in Wengniute County,Inner Mongolia,China are analyzed through quantitative analysis and comparison of their synthetical performance,terminal performance and process performance. The synthetical performance index of Sino-German Corporation Afforestation Project and Grain to Green Project were 0.877 2 and 0.822 9 respectively,placing it in the“good”category. The synthetical performance index of Small Watershed Management was 0.716 9 (categorized as“relatively good”). The synthetical performance index of Grassland Grazing Prohibition Project was 0.7169 (categorized as“poor”). The process performance and terminal performance of these four kinds of ecological restoration policies exist differences as well. The process performance and terminal performance between Sino-German Corporation Afforestation Project and Grain to Green Project were very close,the process performance indexes were 99.86 percent and 91.76 percent of terminal performance indexes respectively. The process performance index of Small Watershed Management was 84.57 percent of its terminal performance index,the difference is obvious. The process performance index of Grassland Grazing Prohibition Project was 49.75 percent of its terminal performance index,the difference is significant. The difference between process performance and terminal performance is a key aspect to measure performance differences. The performance evaluation model proposed by this paper has significance for creating a new perspective to different ecological policies' cost structure comparison and performance calculation.

Key words: ecological restoration, performance evaluation, cost structure, transaction cost