THE REGULATION OF TRANSPORT MARKETS

The paper discusses the overall pattern of transport deregulation. It sets the scene by assessing the forces for change behind deregulation, the types of reforms implemented, and the outcomes of those reforms. Argues that the influence of ideas was important - public-choice type and contestability considerations being especially relevant. So too was the empirical evidence, especially in North America, which suggested that regulation was associated with inefficient pricing policies. These factors helped promote deregulation, initially in the US and subsequently in Europe, which ranged from greater freedom over pricing policies to a retreat from public ownership. There are some areas where evidence exists on productivity change, pricing policies and safety records. -from Editor