TY - UNPB

T1 - European railway deregulation

T2 - the influence of regulatory and environmental conditions on efficiency

AU - Wetzel, Heike

N1 - Literaturverz. S. 25 - 28

PY - 2008

Y1 - 2008

N2 - The objective of this paper is to analyze the impact of regulatory and environmental conditions on technical efficiency of European railways. Using a panel data set of 31 railway firms from 22 European countries from 1994 to 2005, a multioutput distance function model, including regulatory and environmental factors, is estimated using stochastic frontier analysis. The results obtained indicate positive and negative efficiency effects of different regulatory reforms. Furthermore, estimating models with and without regulatory and environmental factors clearly indicates that the omission of environmental factors, such as network density, substantially changes parameter estimates and, hence, leads to biased estimation results.

AB - The objective of this paper is to analyze the impact of regulatory and environmental conditions on technical efficiency of European railways. Using a panel data set of 31 railway firms from 22 European countries from 1994 to 2005, a multioutput distance function model, including regulatory and environmental factors, is estimated using stochastic frontier analysis. The results obtained indicate positive and negative efficiency effects of different regulatory reforms. Furthermore, estimating models with and without regulatory and environmental factors clearly indicates that the omission of environmental factors, such as network density, substantially changes parameter estimates and, hence, leads to biased estimation results.

KW - Economics

KW - European railways

KW - technical efficiency

KW - stochastic frontier analysis

M3 - Working papers

T3 - Working paper series in economics

BT - European railway deregulation

PB - Institut für Volkswirtschaftslehre der Universität Lüneburg

CY - Lüneburg

ER -