Ownership forms matter for airport efficiency: A stochastic frontier investigation of worldwide airports
AbstractWe study the effects of ownership forms on airports' cost efficiency by applying stochastic frontier analysis to a panel data of the world's major airports. Our key findings are: (a) Countries considering privatization of airports should transfer majority shares to the private sector; (b) Mixed ownership of airport with a government majority should be avoided in favor of even 100% government owned public firm; (c) US airports operated by port authorities should consider to transfer ownership/management to independent airport authorities; and (d) Privatization of one or more airports in cities with multiple airports would improve the efficiency of all airports.
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Bibliographic InfoArticle provided by Elsevier in its journal Journal of Urban Economics.
Volume (Year): 64 (2008)
Issue (Month): 2 (September)
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Web page: http://www.elsevier.com/locate/inca/622905
Ownership forms Airports Translog cost system Stochastic frontier Bayesian approach;
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