Railway (De) Regulation : A European Efficiency Comparison
Many European countries have sought to increase the efficiency of national railroad companies through a range of reforms: separating infrastructure and operations, creating independent regulatory institutions and providing access to the network to third parties. To estimate the effects of reforms on railroad efficiency, we investigate a new World Bank panel dataset that covers many EU countries over a period of 20 years. We compare the passenger traffic efficiency of national railroad companies by means of a production frontier model and evaluate the effects of reforms on efficiency. We find that reforms have efficiency-increasing effects but that the effect of reforms depends on sequencing: the introduction of multiple reforms in a package has at best neutral effects, but sequential reforms improve efficiency. Using the LISREL technique, we find that our results are robust against potential problems of endogeneity.
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|Date of creation:||2003|
|Date of revision:||2007|
|Publication status:||Published in Economica, vol.�77, n°305, 2010, p.�77-91.|
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