Roles and Efficiency of Vertical Separation in Railway Industry

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First, we have found theoretically favorable effects of vertical separation and open access of the railway industry on the tariff and efficiency. Second, we were involved in the case studies of the railway industries in EU, United Kingdom and Germany to show the economic efficiency and problems such as infrastructure management and entry barriers induced by the vertical separation and open access due to the railway liberalization. Third, we investigated empirically the production efficiency of privatized and vertically separated British passenger train operating companies (TOCs). Also, we compared production efficiency of privatized TOCs separated from Japan National Railways with other Japanese private local TOCs.