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Cost Structure, Efficiency and Productivity in Hellenic Railways

Author

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  • Tsionas, Efthymios G.
  • Baltas, Nicholas C.
  • Chionis, Dionysios P.
Abstract
In this paper we analyze the cost structure of Hellenic Railways (OSE) over the period 2000-2006 using plant-level data. Our estimates provide marginal costs, which are essential for rational pricing policies in view of Article 7 in the Commission Directive 2001/14/EC. We find cost efficiency close to 64 percent in rail circulation and 84 percent in maintenance. Technical progress has been substantial in maintenance of rail track but almost zero in rail circulation. Policy measures and recommendations are provided based on our empirical results.

Suggested Citation

  • Tsionas, Efthymios G. & Baltas, Nicholas C. & Chionis, Dionysios P., 2008. "Cost Structure, Efficiency and Productivity in Hellenic Railways," The Journal of Economic Asymmetries, Elsevier, vol. 5(1), pages 39-52.
    • Handle: RePEc:eee:joecas:v:5:y:2008:i:1:p:39-52
    DOI: 10.1016/j.jeca.2008.01.004
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    References listed on IDEAS

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    1. Baltagi, Badi H & Griffin, James M, 1988. "A General Index of Technical Change," Journal of Political Economy, University of Chicago Press, vol. 96(1), pages 20-41, February.
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    3. PERELMAN, Sergio & PESTIEAU, Pierre, 1988. "Technical performance in public enterprises," LIDAM Reprints CORE 797, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    4. Berndt, Ernst R & Khaled, Mohammed S, 1979. "Parametric Productivity Measurement and Choice among Flexible Functional Forms," Journal of Political Economy, University of Chicago Press, vol. 87(6), pages 1220-1245, December.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    F13; H54; L62; Cost; efficiency; productivity; transportation;
    All these keywords.

    JEL classification:

    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • H54 - Public Economics - - National Government Expenditures and Related Policies - - - Infrastructures
    • L62 - Industrial Organization - - Industry Studies: Manufacturing - - - Automobiles; Other Transportation Equipment; Related Parts and Equipment

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