Railway (De)Regulation: A European Efficiency Comparison
AbstractMany European countries have sought to increase the efficiency of national railroad companies through a range of reforms: separating infrastructure and operations, creating independent regulatory institutions and providing access to the network to third parties. To estimate the effects of reforms on railroad efficiency, we investigate a new World Bank panel dataset that covers many EU countries over a period of 20 years. We compare the passenger traffic efficiency of national railroad companies by means of a production frontier model and evaluate the effects of reforms on efficiency. We find that reforms have efficiency-increasing effects but that the effect of reforms depends on sequencing: the introduction of multiple reforms in a package has at best neutral effects, but sequential reforms improve efficiency. Using the LISREL technique, we find that our results are robust against potential problems of endogeneity.
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Bibliographic InfoPaper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 4319.
Date of creation: Mar 2004
Date of revision:
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Other versions of this item:
- Friebel, Guido & Ivaldi, Marc & Vibes, Catherine, 2003. "Railway (De) Regulation : A European Efficiency Comparison," IDEI Working Papers 221, Institut d'Économie Industrielle (IDEI), Toulouse, revised 2007.
- C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
- D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
- L51 - Industrial Organization - - Regulation and Industrial Policy - - - Economics of Regulation
This paper has been announced in the following NEP Reports:
- NEP-ALL-2004-06-13 (All new papers)
- NEP-EEC-2004-06-13 (European Economics)
- NEP-REG-2004-06-13 (Regulation)
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