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Testing the regulatory model: the expansion of Stansted airport

Author

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  • David Starkie

Abstract

This paper examines the application of price-cap regulation to the UK airport industry, with particular reference to the expansion of London-Stansted. This expansion is relevant to the debate concerning investment incentives inherent in the RPI-X approach and whether the UK style of regulation encourages the ‘sweating of assets’ at the expense of new investment. Stansted’s expansion also suggests a willingness of the authorities to accept the leveraging of market power in pursuit of perceived public-interest goals; it provides an insight into the behaviour of economic agents when capital market disciplines are mute; and it illustrates some unintended consequences that can follow from market intervention.

Suggested Citation

  • David Starkie, 2004. "Testing the regulatory model: the expansion of Stansted airport," Fiscal Studies, Institute for Fiscal Studies, vol. 25(4), pages 389-413, December.
    • Handle: RePEc:ifs:fistud:v:25:y:2004:i:4:p:389-413
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    Citations

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    Cited by:

    1. Starkie, David, 2006. "Investment incentives and airport regulation," Utilities Policy, Elsevier, vol. 14(4), pages 262-265, December.
    2. Forsyth, Peter, 2007. "The impacts of emerging aviation trends on airport infrastructure," Journal of Air Transport Management, Elsevier, vol. 13(1), pages 45-52.
    3. Volodymyr Bilotkach & Joseph Clougherty & Juergen Mueller & Anming Zhang, 2012. "Regulation, privatization, and airport charges: panel data evidence from European airports," Journal of Regulatory Economics, Springer, vol. 42(1), pages 73-94, August.
    4. Volodymyr Bilotkach & Harry Bush, 2020. "Airport competition from airports’ perspective: Evidence from a survey of European airports," Competition and Regulation in Network Industries, , vol. 21(3), pages 275-296, September.
    5. Germá Bel & Xavier Fageda, 2009. "Factors Explaining Charges in European Airports: Competition, Market Size, Private Ownership and Regulation," Working Papers 2009-31, FEDEA.

    More about this item

    JEL classification:

    • L51 - Industrial Organization - - Regulation and Industrial Policy - - - Economics of Regulation
    • L93 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Air Transportation
    • L97 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Utilities: General
    • R48 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics - - - Government Pricing and Policy

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