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Kazuo Mizutani 《Journal of Economics》1965,25(3-4):287-292
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The main purpose of this study is to analyze structural separation policies, especially vertical (i.e. operation-infrastructure) and horizontal (i.e. passenger-freight service) separation. Using the total cost function of a railway organization, we evaluate whether or not vertical separation and/or horizontal separation can reduce costs. For this analysis, we selected 30 railway organizations in 23 European and East Asian OECD countries over 14?years, from 1994 to 2007. Our findings show that horizontal separation reduces railway cost. As for vertical separation, effects change according to the train density of a railway organization. With lower train density, vertical separation tends to reduce cost, while with higher train density vertical separation increases cost. 相似文献
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Jun Mizutani 《Journal of Air Transport Management》2011,17(2):120-124
In 2003, Japan Airlines and Japan Air System merged to become an equal rival to All Nippon Airways, which had significant market power in the domestic air transportation market in Japan. This paper examines the merger effects on the competition structure of the air transportation market using conduct parameter and theoretical price approaches. We test to see if the merger changed the market structure because there had been a leader–follower relationship among three carriers before the merger, and we had an equal competitor relationship between two carriers after the merger. 相似文献
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Fumitoshi Mizutani Hideo Kozumi Noriaki Matsushima 《Journal of Regulatory Economics》2009,36(3):308-323
This paper investigates the effectiveness of yardstick regulation by using a data set of rail companies in Japan and estimating
the variable frontier cost function. In the variable cost function, both the coefficient of the yardstick regulation dummy
and the coefficient of the competitive pressure outside the industry show the negative sign with statistical significance,
indicating that the introduction of yardstick regulation and competition tend to decrease a rail company’s variable cost.
Between 1995 and 2000, railways to which yardstick regulation was applied improved cost efficiency by about 11.5%. 相似文献
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This paper aims to find the optimal size of an urban private rail organization as well as to evaluate cost difference by ownership. First, after selecting privately owned rail companies, we explore explanatory variables which affect the cost of rail service. Second, keeping in mind previous cost studies of the urban passenger rail industry, we estimate variable cost function with the translog cost function and we construct the total cost function. Third, based on the average cost function, conditions are pinpointed which attain minimum average cost. Finally, based on estimated results, we calculate the size of an urban private rail company and the ownership effects on cost. We conclude that optimal size is about 231 million vehicle-km per year, with a network of 63.8 km length. In terms of total costs, public railways have higher costs than private railways. There is no cost difference, however, in terms of variable costs. 相似文献
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The main purpose of this study is to find factors affecting privatization decisions. This study investigates the determinants
of privatization by applying the probit model for a data set of special public corporations in Japan. In December 2001, the
Japanese government made a resolution to consider the privatization of special public corporations, evaluating 74 special
public corporations for possible privatization. In the empirical analysis on the determinants of privatization, we find that
among several factors affecting privatization decisions, two are important—the market condition factor and the policy/regulation
factor. As for market conditions, a public corporation which exists in a commercialized industry is about 20% more likely
to be privatized than others. As for the policy and regulation factor, the public corporation’s privatization under a single
regulator is about 25% more likely, compared with the public corporation’s privatization under multiple regulators. 相似文献
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Fumitoshi Mizutani Tomoyasu Tanaka Noriyoshi Nakayama Shuji Uranishi 《Journal of Economic Policy Reform》2020,23(2):184-208
Using 782 panel data from 34 OECD countries from 1991 to 2013, this study aims to evaluate how structural reform affects GDP growth rate. We use the Barro-type GDP growth rate regression model and apply both fixed and random effect models. Eight structural reform variables are selected: (i) third party access, (ii) wholesale market dummy, (iii) choice of supplier, (iv) private ownership, (v) generation-others separation, (vi) transmission-others separation, (vii) distribution-others separation and (viii) overall vertical separation. Major finding results are as follows: (i) third party access can positively contribute to GDP growth rate, (ii) wholesale market and overall vertical separation might have a small negative effect, and (iii) other variables have no significant effect. 相似文献
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The Post Office vs. Parcel Delivery Companies: Competition Effects on Costs and Productivity 总被引:1,自引:0,他引:1
The main purpose of this study is to evaluate whether the competition factor affects cost reduction or TFP growth, even when ownership is maintained by the public sector. For empirical investigation, we selected the parcel delivery market in Japan. Formerly monopolized by the Post Office, the parcel delivery market was dramatically affected by the entry of the privately owned Yamato in 1976, an event which saw the share of the Post Office begin its decline to only 14.9% by 1998. In this study, we estimate the total cost function of goods transported by using a pooled data set, and the hedonic specification of output is formulated in order to consider output characteristics. Our conclusion is that competition has contributed to cost reduction and TFP growth in the case of private companies but not in the case of the Post Office. 相似文献
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