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The Estimation of Indian Railway Cost Function

Author

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  • G. Alivelu

    (Centre for Economic and Social Studies, NO Campus, Begumpet, Hyderabad, India)

Abstract

Analysis of the cost structure of Indian Railways yields reasonable estimates of technical change, scale and substitution analysis. Technological advancements reduced fuel and labour services and increased capital services. Price elasticity of demand indicates that the own price elasticities of the inputs have negative sign. The cross price elasticities of demand are positive between labour and capital and so is the case with capital and fuel. The elasticity of substitution between the labour and fuel indicate complementarity and the elasticity between the labour and capital shows substitutability. The results show that fuel and capital are substitutes.

Suggested Citation

  • G. Alivelu, 2007. "The Estimation of Indian Railway Cost Function," Zagreb International Review of Economics and Business, Faculty of Economics and Business, University of Zagreb, vol. 10(1), pages 11-32, May.
    • Handle: RePEc:zag:zirebs:v:10:y:2007:i:1:p:11-32
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    Cited by:

    1. R. S., Gopalan & M., Ravibabu & Sahu, Sasmita, 2017. "Alternative approach to costing on Indian Railways: Linking outputs and expenses to activity centres," MPRA Paper 81947, University Library of Munich, Germany.
    2. Kolade Sunday Adesina & John Muteba Mwamba, 2016. "Do Basel III Higher Common Equity Capital Requirements Matter for Bank Risk-taking Behaviour? Lessons from South Africa," African Development Review, African Development Bank, vol. 28(3), pages 319-331, September.

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