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Towards a more efficient railway: The Beesley lecture

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  • Price, Richard

Abstract

Britain’s railways are a great success story. The rail industry needs now to change to sustain the remarkable progress of the last decade. To get the best service for its customers and a good deal for the taxpayer, the industry needs the freedom to innovate, to deliver better value and to make rail more attractive for passengers and freight. For too long the rail industry, the government, and the regulator have created ever more byzantine funding and decision-making structures, and since privatisation regulator and government have been drawn into operational detail instead of being focused on what matters – ensuring the industry serves its customers at the best price for the taxpayer.

Suggested Citation

  • Price, Richard, 2012. "Towards a more efficient railway: The Beesley lecture," MPRA Paper 74979, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:74979
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    File URL: https://mpra.ub.uni-muenchen.de/74979/1/MPRA_paper_74979.pdf
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    References listed on IDEAS

    as
    1. Michael G. Pollitt & Andrew S. J. Smith, 2002. "The restructuring and privatisation of British Rail: was it really that bad?," Fiscal Studies, Institute for Fiscal Studies, vol. 23(4), pages 463-502, December.
    2. Gourvish, Terry, 2004. "British Rail 1974-1997: From Integration to Privatisation," OUP Catalogue, Oxford University Press, number 9780199269099.
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    4. Affuso, Luisa, 2003. "Auctions of rail capacity?," Utilities Policy, Elsevier, vol. 11(1), pages 43-46, March.
    5. Newbery, David & Affuso, Luisa, 2000. "Investment, Reprocurement and Franchise Contract Length in the British Railway Industry," CEPR Discussion Papers 2619, C.E.P.R. Discussion Papers.
    6. Jon Stern, 2003. "Regulation and Contracts for Utility Services: Substitutes or Complements? Lessons from UK Railway and Electricity History," Journal of Economic Policy Reform, Taylor & Francis Journals, vol. 6(4), pages 193-215.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Railways Efficiency Privatisation Vertical separation Performance Transport train economic regulation health and safety;

    JEL classification:

    • L32 - Industrial Organization - - Nonprofit Organizations and Public Enterprise - - - Public Enterprises; Public-Private Enterprises
    • L33 - Industrial Organization - - Nonprofit Organizations and Public Enterprise - - - Comparison of Public and Private Enterprise and Nonprofit Institutions; Privatization; Contracting Out
    • L38 - Industrial Organization - - Nonprofit Organizations and Public Enterprise - - - Public Policy
    • L51 - Industrial Organization - - Regulation and Industrial Policy - - - Economics of Regulation
    • L92 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Railroads and Other Surface Transportation
    • N74 - Economic History - - Economic History: Transport, International and Domestic Trade, Energy, and Other Services - - - Europe: 1913-
    • R4 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics
    • R41 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics - - - Transportation: Demand, Supply, and Congestion; Travel Time; Safety and Accidents; Transportation Noise

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