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The Underappreciated Connection between Rail Restructuring Strategies and Financing

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  • Pittman Russell

    (Antitrust Division, U.S. Department of Justice, Washington, DC, USA)

Abstract

The railways industry is a capital-intensive industry requiring very large initial and ongoing investment streams. Proposals to restructure the traditional state-owned monopoly railway in a particular country are often designed to address concerns not only regarding inefficient operations and monopoly stagnation but also the long-term unreliability of government financing, especially of the expensive infrastructure. In this regard, the connection between the particular rail restructuring strategy chosen by a country and the ability of the restructured entity to attract financing, especially private financing, merits a closer look.

Suggested Citation

  • Pittman Russell, 2017. "The Underappreciated Connection between Rail Restructuring Strategies and Financing," Review of Network Economics, De Gruyter, vol. 16(2), pages 161-169, June.
    • Handle: RePEc:bpj:rneart:v:16:y:2017:i:2:p:161-169:n:4
    DOI: 10.1515/rne-2017-0040
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    References listed on IDEAS

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    1. Cervero, Robert & Murakami, Jin, 2008. "Rail + Property Development: A model of sustainable transit finance and urbanism," Institute of Transportation Studies, Research Reports, Working Papers, Proceedings qt6jx3k35x, Institute of Transportation Studies, UC Berkeley.
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    3. Pittman Russell, 2005. "Structural Separation to Create Competition? The Case of Freight Railways," Review of Network Economics, De Gruyter, vol. 4(3), pages 1-16, September.
    4. Christian Growitsch & Heike Wetzel, 2009. "Testing for Economies of Scope in European Railways: An Efficiency Analysis," Journal of Transport Economics and Policy, University of Bath, vol. 43(1), pages 1-24, January.
    5. Casullo Lorenzo, 2017. "Rail Funding and Financing," Review of Network Economics, De Gruyter, vol. 16(2), pages 125-141, June.
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    Cited by:

    1. Nash Chris, 2017. "Railway Finance in Europe," Review of Network Economics, De Gruyter, vol. 16(2), pages 67-88, June.

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