A review of passenger rail franchising in Britain: 1996/1997-2006/2007
This paper reviews 10 years of passenger rail franchising in Great Britain and highlights problems in three areas: the tension between commercial and social objectives; the presence of risks and uncertainty; and vulnerability to strategic behaviour such as low-balling, chiselling and back loading. It concludes that franchising has had some good features (such as the high level of competitive pressure) but also some bad features (such as a high rate of franchise failures). In addition, an ugly feature of franchising is the scope for strategic behaviour. Further reform is suggested based on a distinction between commercial and social franchises.
Volume (Year): 22 (2008)
Issue (Month): 1 (January)
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References listed on IDEAS
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- Richard D Knowles, 2004. "Impacts of privatising Britain's rail passenger services -- franchising, refranchising, and Ten Year Transport Plan targets," Environment and Planning A, Pion Ltd, London, vol. 36(11), pages 2065-2087, November.
- J Cowie, 2002. "Subsidy and Productivity in the Privatised British Passenger Railway," Economic Issues Journal Articles, Economic Issues, vol. 7(1), pages 25-38, March.
- Gourvish, Terry, 2002. "British Rail 1974-1997: From Integration to Privatisation," OUP Catalogue, Oxford University Press, number 9780199250059, March.
- Pollitt, M. & Smith, A.S.J., 2001.
"The Restructuring and Privatisation of British Rail: Was it really that bad?,"
Cambridge Working Papers in Economics
0118, Faculty of Economics, University of Cambridge.
- Michael G. Pollitt & Andrew S. J. Smith, 2002. "The restructuring and privatisation of British Rail: was it really that bad?," Fiscal Studies, Institute for Fiscal Studies, vol. 23(4), pages 463-502, December.
- Yvrande-Billon, Anne & Menard, Claude, 2005. "Institutional constraints and organizational changes: the case of the British rail reform," Journal of Economic Behavior & Organization, Elsevier, vol. 56(4), pages 675-699, April.
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