Integración, competencia y regulación en las redes de transporte

Large transportation companies have long been State property. When they were in private hands possible competitors were barred from the market: the habitual justification was the strategic character, the public service obligations and the naturally monopolistic character of ports, airports and railways. The evidence of less efficiency in the direct production of transportation services by the public sector has led to the increase of private participation but not to the disappearance of government intervention, but rather to its redefinition. The naturally monopolistic characteristics of certain transportation infrastructures and their network configuration, the treatment of externalities and public service obligations justify regulation, in principle. However, at the same time, such characteristics make it necessary to make a clear distinction between State intervention directed towards maximising social well-being and other interventions that are derived from the capture of public agencies by certain interest groups. Also, public intervention guided by general interest must be based on the existence of information asymmetries and conflicts of interest and thus, on the introduction of regulations based on incentives.