PRODUCTIVITY GROWTH IN EUROPEAN RAILWAYS AND EXOGENOUS FACTORS THAT INFLUENCE ON ITS EFFICIENCY
Journal Title: European Journal of Business and Social Sciences - Year 2016, Vol 5, Issue 6
Abstract
We analyzed the performance of the European railway public system for the years 2004-2012. In this period, numerous deregulation and liberalization steps were implemented with the aim to revitalize the railway. This paper estimates an input distance function, with stochastic frontier techniques in order to estimate productivity growth rates. Productivity is decomposed so as to account for the impact of technical efficiency change, technical change an scale change. The results suggest that while technical efficiency change and technical change improved productivity growth, whilst scale change contributed slightly negative. Most of TFP growth appears to be due to cuts in input usage as opposed to output growth or technological advance. Likewise, this paper has analyzed the impact of grants and reforms implemented on railways efficiency. Meanwhile, grants have improved efficiency, reforms have not had the expected results. The vertical separation has not had a positive effect on efficiency. In contrast, the opening market seems to lead to a greater efficiency gain.
Authors and Affiliations
PhD Student Luis Macias Gallardo| National Distance Education University (UNED), Madrid, Spain e-mail: lmaciag@outlook.com, Gregorio Escalera Izquierdo| Associate Professor PhD in Economics & Business Department of Management National Distance Education University (UNED) Madrid, Spain e-mail: gescalera@cee.uned.es
Keywords
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