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Competition Issues in Privatisation: Lessons for the Railways

In: Transport in a Free Market Economy

Author

Listed:
  • Mike Adamson
  • Wynne Jones
  • Robin Pratt

Abstract

Privatisation is a term that has evolved to describe a policy, the effects of which are to enhance private-sector involvement in the ownership, management and financing of hitherto public-sector activity. The principal objective of privatisation should be to improve efficiency of service or product provision, reduce costs (hence tariffs) and serve consumers better. In practice the policy has had a multiplicity of (on occasion conflicting) objectives, whose relative weights have changed over time. These have been extensively reviewed by many authors, including Beesley and Littlechild (1983), Kay and Silberston (1984), Kay and Thompson (1986) and Vickers and Yarrow (1988). The economic objectives have included: improving economic efficiency and customer service (in part through reducing and clarifying the role of the public sector); reducing the public-sector borrowing requirement; promoting wider share ownership.

Suggested Citation

  • Mike Adamson & Wynne Jones & Robin Pratt, 1991. "Competition Issues in Privatisation: Lessons for the Railways," Palgrave Macmillan Books, in: David Banister & Kenneth Button (ed.), Transport in a Free Market Economy, chapter 3, pages 49-78, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-11439-9_4
    DOI: 10.1007/978-1-349-11439-9_4
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    Cited by:

    1. Brooks, Mary R. & Button, Kenneth, 2020. "Separating Track from Operations: A Look at International Experiences," Papers 306052, Canadian Transportation Research Forum (CTRF).

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