The Theory and Practice of Railway Restructuring

Author: Yu Jun
Publisher:
Publish Date: 2003-11-01
Features: This book applies transaction cost economics and modern competition theory to study the economic characteristics of railway transport networks, elaborates the efficiency principles of railway restructuring, and subsequently proposes directions for China's railway restructuring. Experiences from the development of railways in foreign countries indicate that the competition between road and civil aviation transportation industries and railways, as well as the government's monopoly operation or strict regulation of railways, are the main reasons for the gradual decline of the railway industry. Reforming management systems, moving toward the market, and enhancing competitiveness are the necessary paths for the survival and development of the railway industry. This book employs transaction cost economics and modern competition theory to study the economic characteristics of railway transport networks. Based on the research paradigm of transaction modes—contractual relationships—governance structures and ownership structures, it elaborates the efficiency principles of railway restructuring and, according to China's specific national conditions, proposes directions for China's railway restructuring. This book is primarily intended for theoretical researchers in the fields of railways and other transportation, policy researchers, government departments, and relevant personnel from enterprises. It can also be read by a broad audience interested in corporate restructuring.