End of the line: Railroads in Chile
AbstractBetween 1860 and 1950, railroads in Chile were synonym of modernization, integration, and economic development. By the 1970s railroads were bankrupt and socially discredited, surviving out of government subsidies. By 2000, passenger services had disappeared but private sector freight operations were revitalized after swift reforms. We review the Chilean reforms and experience, focusing on regulation, public sector involvement and political interference, market entry, vertical integration, and externalities. Perhaps uniquely, two different forms of private sector participation in freight operations emerge after reforms: a vertically integrated, privatized railroad and a state-owned, open-access, concession system.
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Bibliographic InfoPaper provided by Instituto de Economia. Pontificia Universidad Católica de Chile. in its series Documentos de Trabajo with number 391.
Date of creation: 2010
Date of revision:
Railways; divestiture; regulation; industrial organization;
Find related papers by JEL classification:
- L92 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Railroads and Other Surface Transportation
- L51 - Industrial Organization - - Regulation and Industrial Policy - - - Economics of Regulation
- L43 - Industrial Organization - - Antitrust Issues and Policies - - - Legal Monopolies and Regulation or Deregulation
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-02-05 (All new papers)
- NEP-HIS-2011-02-05 (Business, Economic & Financial History)
- NEP-LAM-2011-02-05 (Central & South America)
- NEP-REG-2011-02-05 (Regulation)
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