Nationalisation

John Preston

A chapter in Elgar Encyclopedia of Transport and Society, 2025, pp 248-249 from Edward Elgar Publishing

Abstract: Nationalisation involves the transfer of economic activity from the private to the public sector, typically central government. Municipalisation involves similar transfers to local government. Nationalisation and municipalisation in the transport sector are largely historical phenomena associated with the rise of communism/socialism, post-colonialism and post-war reconstruction. There are arguments both for and against nationalisation, largely related to political, economic and social factors, with the balance ebbing and flowing over time. By the final quarter of the twentieth century, the converse phenomenon of privatisation has held sway, but in the first quarter of the twenty-first century, there are examples of renationalisation, particularly in rail.

Keywords: Nationalisation; Municipalisation; X-inefficiency; Capital market competition; Product market competition; Ownership cycles (search for similar items in EconPapers)
Date: 2025
ISBN: 9781035330515
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