This paper charts some of the ways in which investment in the rail industry can be influenced by economic regulation and examines some of the consequences of measures intended to enhance investment. There are, broadly speaking, two ways in which economic regulation of rail infrastructure can influence growth and investment; through regulations which determine industry structure, and through pricing. This paper examines both, and forms the first in a series of papers in a research project examining the impacts of National Competition Policy on the provision of rail infrastructure in Australia. Section One provides a brief overview of the underpinnings of the economic regulation of prices and structure. Section Two outlines the ways prices are regulated in various jurisdictions and some of the structural reforms implemented in Australia and overseas. Section Three examines how some jurisdictions pursue alternate policies to enhance railway investment. (a) For the covering entry of this conference, please see ITRD abstract no. E213716.
Samenvatting