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The Underappreciated Connection between Rail Restructuring Strategies and Financing

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  • Pittman Russell

    (Antitrust Division, U.S. Department of Justice, Washington, DC, USA)

Abstract

The railways industry is a capital-intensive industry requiring very large initial and ongoing investment streams. Proposals to restructure the traditional state-owned monopoly railway in a particular country are often designed to address concerns not only regarding inefficient operations and monopoly stagnation but also the long-term unreliability of government financing, especially of the expensive infrastructure. In this regard, the connection between the particular rail restructuring strategy chosen by a country and the ability of the restructured entity to attract financing, especially private financing, merits a closer look.

Suggested Citation

  • Pittman Russell, 2017. "The Underappreciated Connection between Rail Restructuring Strategies and Financing," Review of Network Economics, De Gruyter, vol. 16(2), pages 161-169, June.
    • Handle: RePEc:bpj:rneart:v:16:y:2017:i:2:p:161-169:n:4
    DOI: 10.1515/rne-2017-0040
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    References listed on IDEAS

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    1. Christian Growitsch & Heike Wetzel, 2009. "Testing for Economies of Scope in European Railways: An Efficiency Analysis," Journal of Transport Economics and Policy, University of Bath, vol. 43(1), pages 1-24, January.
    2. Pittman Russell, 2005. "Structural Separation to Create Competition? The Case of Freight Railways," Review of Network Economics, De Gruyter, vol. 4(3), pages 1-16, September.
    3. Casullo Lorenzo, 2017. "Rail Funding and Financing," Review of Network Economics, De Gruyter, vol. 16(2), pages 125-141, June.
    4. Cervero, Robert & Murakami, Jin, 2008. "Rail + Property Development: A model of sustainable transit finance and urbanism," Institute of Transportation Studies, Research Reports, Working Papers, Proceedings qt6jx3k35x, Institute of Transportation Studies, UC Berkeley.
    5. Fumitoshi Mizutani & Shuji Uranishi, 2013. "Does vertical separation reduce cost? An empirical analysis of the rail industry in European and East Asian OECD Countries," Journal of Regulatory Economics, Springer, vol. 43(1), pages 31-59, January.
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    Cited by:

    1. Nash Chris, 2017. "Railway Finance in Europe," Review of Network Economics, De Gruyter, vol. 16(2), pages 67-88, June.

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