The regulatory framework under which the European transport network operates has changed significantly over the last 15 years. At the macro level the creation of the Single European Market has removed many of the institutional impediments to international transportation within European Union. At the meso level national governments have liberalised inter-city transport both by deregulation and privatisation. At the micro level city authorities have acted to introduce greater market incentives in the provision of local public transport. This paper is primarily concerned with the effects on economic efficiency of measures which have resulted in more liberalised markets at the local levels. In particular, it focuses on expanding the relatively scant empirical literature in this field by quantifying the impacts of major regulatory changes in two major European cities. (A)
Abstract