Evolution and Revolution: the Changing Focus of Regulation of the World’s Railways

Abstract

This paper provides an overview and perspective on the regulatory changes sweeping through the world’s railways. The review concentrates on railways in the relatively wealthy countries, primarily because they are the vanguard, where a century or more of management practice and government controls are undergoing change. The paper begins with comments on the nature of rail technology and markets, the implications for government and public policy direction, and forces of change which have pushed railways internally and externally into new organizational and regulatory structures, most of which are still evolving. The latter part of the paper comments more specifically on changes taking place in several countries.