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.
(This abstract was borrowed from another version of this item.)
|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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- Gathon, H. -J. & Pestieau, P., 1995.
"Decomposing efficiency into its managerial and its regulatory components: The case of European railways,"
European Journal of Operational Research,
Elsevier, vol. 80(3), pages 500-507, February.
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