A theory of deregulation in public transport
This paper builds a theory of deregulation and roll-out of on-road competition in the public transport sector. Focusing on the dimensions of competition, ownership and authorisation, we identify five distinct regulatory regimes: public monopoly, regulated monopoly, unregulated monopoly, outsourcing to private monopoly and competition in the market. Our generalised theoretical framework allows for the direct comparison in the social welfare terms of the monopolies' outcomes and the fragmented market structure after deregulation. We formulate a set of parameter restrictions that make competition in the market preferable to public monopoly and competition for the market in the form of outsourcing. We also show the theoretical possibility of a ‘revised’ regulatory cycle forming a sequential transition between these identified regulatory regimes. Our model predicts possible policy reversals and the bypassing of certain phases of the cycle, that can occur due to technological advances, changes in fiscal constraints and institutional capacity improvements
Despite over 30 years of worldwide reforms in many directions to increase efficiency, public transport markets present a variety of arrangements regarding operations, control and ownership that are amenable to improvement. This workshop will examine the contextual economic, political, cultural and social factors behind these many different cases that can be observed around the world. Through a better understanding of such factors it will examine the competition and ownership options for regulated public transport markets, taking full account of local contextual factors. This will include examination of methods for improving performance without major competition and ownership changes, for example by improved institutional design (both top-down and bottom-up), the development of trusting partnerships, the promotion of negotiated contracts and the introduction of optimal operating rules.
The article presents a theoretical survey of different ways to analyze the effect coexistence of spot and forward markets has on incentives for non-competitive behavior. There is no common opinion in economic theory concerning the influence of forward contracts on incentives for non-competitive behavior in spot market. Several studies support the hypothesis that introduction of forward trading increases competition in the spot market by erosion of market power. But while it can reduce market power of an individual firm, forward trading facilitates tacit collusion in the market. This ambiguity demonstrates complexity of economic research, aimed at increasing social welfare.
This volume discusses post-socialist urban transport functioning and development in Russia, within the context of the country’s recent transition towards a market economy. Over the past twenty-five years, urban transport in Russia has undergone serious transformations, prompted by the transitioning economy. Yet, the lack of readily available statistical data has led to a gap in the inclusion of Russia in the body of international transport economics research. By including ten chapters of original, cutting-edge research by Russian transport scholars, this book will close that gap. Discussing topics such as the relationship between urban spatial structure and travel behavior in post-soviet cities, road safety, trends and reforms in urban public transport development, transport planning and modelling, and the role of institutions in post-soviet transportation management, this book provides a comprehensive survey of the current state of transportation in Russia. The book concludes with a forecast for future travel development in Russia and makes recommendations for future policy. This book will be of interest to researchers in transportation economics and policy as well as policy makers and those working in the field of urban and transport planning.
The aim of the article is to present the ways of urban public transport development in Russia within the context of the transition towards the market economy. The article consists of two blocks: the trends of urban public transport development in the Russian Federation and the problems of urban public transport management. The first block presents the survey of urban public transport development trends by transport mode with the attention to the mass transit. The quantitative and qualitative analysis of urban public transport in Russian cities since 1991 is provided. The positive and negative cases of urban public transport development are revealed. The most important features of urban public transport functioning connected to the urban planning and transport planning practice are discussed. The second part presents an overview of the main decisions made by public authorities in the field of urban public transport management. The key questions are: the general logic of administration, the role of private transport operators, funding and risks of the market participants. The general conclusions reveal the place of the Russian Federation within the context of world urban transport development trends.
This paper examines the actual problem of urban infrastructure of the city and the reaction of young people to changes in the public transport system in Nizhny Novgorod. During the survey 331 respondents (16-30 years old) were questioned about which types of public transport they use; about the attitude towards changes in the transport system and the system as a whole
The paper examines the structure, governance, and balance sheets of state-controlled banks in Russia, which accounted for over 55 percent of the total assets in the country's banking system in early 2012. The author offers a credible estimate of the size of the country's state banking sector by including banks that are indirectly owned by public organizations. Contrary to some predictions based on the theoretical literature on economic transition, he explains the relatively high profitability and efficiency of Russian state-controlled banks by pointing to their competitive position in such functions as acquisition and disposal of assets on behalf of the government. Also suggested in the paper is a different way of looking at market concentration in Russia (by consolidating the market shares of core state-controlled banks), which produces a picture of a more concentrated market than officially reported. Lastly, one of the author's interesting conclusions is that China provides a better benchmark than the formerly centrally planned economies of Central and Eastern Europe by which to assess the viability of state ownership of banks in Russia and to evaluate the country's banking sector.
The paper examines the principles for the supervision of financial conglomerates proposed by BCBS in the consultative document published in December 2011. Moreover, the article proposes a number of suggestions worked out by the authors within the HSE research team.