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EFFICIENCY, TECHNICAL CHANGE AND PRODUCTIVITY IN THE EUROPEAN RAIL SECTOR: A STOCHASTIC FRONTIER APPROACH
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2000
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Railway TrafficResource ProductivityProductivity GrowthResource EfficiencyEngineeringIndustrial EngineeringTransport SectorEconomic GrowthIndustrial OrganizationEuropean Railway CompaniesOperations ResearchProductivityProductivity EconomicsManagement IndependenceRail TransportEconomic AnalysisSystems EngineeringLogisticsTransportation EngineeringQuantitative ManagementEconomicsTransport EfficiencyStochastic Frontier ApproachBusiness
This study estimates the levels of productivity, efficiency and technical change for a number of European railway companies. Unlike most studies based on production functions, the authors have estimated a stochastic frontier cost function. The results indicate that the principal source of productivity growth is technical progress, followed by gains in efficiency (catching-up). It can also be seen that the most efficient companies are those with a greater degree of financial and management independence. (A)