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The British Passenger Rail Privatisation: Conclusions on Subsidy and Efficiency from the First Round of Franchises

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  • Jonathan Cowie
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    Abstract

    The paper examines the issue of subsidy cuts and efficiency gains arising from the first round of franchises from the British passenger rail privatisation. A problem is identified in past studies regarding the lack of a progressive dynamic between subsidy and efficiency over time. This paper assesses efficiency changes and productivity gains achieved by the British train-operating companies over an 8-year period, and then attempts to establish a statistical relationship between efficiency gains and subsidy cuts. Although such a relationship is established, the results more broadly indicate winner's curse syndrome and the strong negotiating position of the incumbent. © 2009 LSE and the University of Bath

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    File URL: http://www.catchword.com/cgi-bin/cgi?ini=bc&body=linker&reqidx=0022-5258(20090101)43:1L.85;1-
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    Bibliographic Info

    Article provided by London School of Economics and University of Bath in its journal Journal of Transport Economics and Policy.

    Volume (Year): 43 (2009)
    Issue (Month): 1 (January)
    Pages: 85-104

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    Handle: RePEc:tpe:jtecpo:v:43:y:2009:i:1:p:85-104

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    Web page: http://www.bath.ac.uk/e-journals/jtep

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    Cited by:
    1. Sébastien Cucurulo, 2011. "L'ouverture à la concurrence des TER, une opportunité d'affirmation de l'AOT régionale en tant que chef de file de l'organisation des transports régionaux ?," Post-Print dumas-00793119, HAL.
    2. Preston, John & Robins, Dawn, 2013. "Evaluating the long term impacts of transport policy: The case of passenger rail privatisation," Research in Transportation Economics, Elsevier, vol. 39(1), pages 14-20.
    3. Jonathan Cowie & Sarah Loynes, 2012. "An assessment of cost management regimes in British rail infrastructure provision," Transportation, Springer, vol. 39(6), pages 1281-1299, November.
    4. Smith, Andrew S.J. & Wheat, Phill E. & Nash, Chris A., 2010. "Exploring the effects of passenger rail franchising in Britain: Evidence from the first two rounds of franchising (1997-2008)," Research in Transportation Economics, Elsevier, vol. 29(1), pages 72-79.

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