The Impact of Economic Regulation on the Efficiency of European Railway Systems

Andrew S. J. Smith, Valerio Benedetto and Chris Nash

Journal of Transport Economics and Policy, 2018, vol. 52, issue 2, 113--136

Abstract: In recent years, European railway regulation has been subject to major reform, with the powers, independence, and responsibilities of rail regulators across Europe strengthened considerably. We study the impact of these reforms on the efficiency levels of a panel of 17 European railways (2002–10). The novelty lies in the incorporation of a multi-dimensional rail regulation index — capturing the complexity of regulatory powers and activities — into an econometric framework alongside other reform variables. Our results suggest that the cost-reducing benefits of regulatory reform depend on the degree of (actual or desired) market openness, vertical structure, and the intensity of network usage.

Date: 2018
References: Add references at CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
https://www.jstor.org/stable/90019706

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:tpe:jtecpo:2018:52:2:113--136

Access Statistics for this article

Journal of Transport Economics and Policy is currently edited by B T Bayliss, S A Morrison, A Smith and D Graham

More articles in Journal of Transport Economics and Policy from University of Bath
Bibliographic data for series maintained by Christopher F. Baum ().