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The economic regulation of the UK airport industry
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Ito, Noriko (2001) The economic regulation of the UK airport industry. PhD thesis, University of Warwick.
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Official URL: http://webcat.warwick.ac.uk/record=b1380259~S15
Abstract
The UK airport industry faced regulatory reform following the 1986
Airports Act. The regulatory reform not only included privatisation of
the then nationalised British Airports Authority, but also changed
the airports that used to be directly owned and managed by local
authorities into autonomous pics. As a result, the industry includes
four categories of institutional arrangement for the airports in the
UK, i. e., (1) privatised airports with price regulation, (2) privatised
airports without price regulation, (3) a local authority airport plc with
price regulation, and (4) local authority airports plc without price
regulation. The regulatory reform involves the imposition of price
cap regulation on 'designated' airports' average airport charge
levels. In this thesis focus is placed upon the predictions of
outcome changes in this industry by the regulatory reform. The
framework of the analyses is based on applied microeconomics,
particularly on the theory of regulation. The predictions regarding
the airport charges rebalancing effect and productive efficiency are
accompanied by empirical analyses as to finding any performance
changes. Predictions and empirical analyses were carried out
mainly with regard to (1) allocative efficiency in price rebalancing
and (2) technical efficiency in production. The price regulation's
constraint form is the 'Average Revenue Approach' and some
economists suggest this leads to efficiency distortion. 'Designated'
airports' price cap constraint uses only the passenger numbers to
'average' the level of total airport charge revenue. The thesis
shows that this approach would produce a different outcome from
the general outcome predicted through a typical 'Average Revenue
Approach' using both a simple model and interdependency demand
model, followed by an empirical analysis using price ratio data. As
to productive efficiency, after predictions of the outcome I used
Data Envelopment Analysis to test efficiency scores in (A) the then
nationalised British Airports Authority/privatised BAA as time series,
and (B) private airports and local authority airports after the reform
as a panel comparison.
Item Type: | Thesis (PhD) | ||||
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Subjects: | H Social Sciences > HC Economic History and Conditions H Social Sciences > HE Transportation and Communications |
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Library of Congress Subject Headings (LCSH): | Airports -- Great Britain -- History -- 20th century, Airports -- Prices -- Great Britain, Airports -- Economic aspects -- Great Britain, Trade regulation -- Great Britain -- History -- 20th century | ||||
Official Date: | May 2001 | ||||
Dates: |
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Institution: | University of Warwick | ||||
Theses Department: | Warwick Business School | ||||
Thesis Type: | PhD | ||||
Publication Status: | Unpublished | ||||
Supervisor(s)/Advisor: | Waddams, Catherine | ||||
Sponsors: | Keiō Gijuku Daigaku [Keiō University] | ||||
Extent: | x, 254 leaves | ||||
Language: | eng |
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