No description available.

No description available.

Many observers feel that the Staggers Rail Act of 1980 is responsible for a "renaissance" in the U.S. freight railroad industry. Prior to the passage of the Staggers Act, railroads had to petition for government approval for nearly every business decision. The ability of the railroad industry to enter and exit certain lines of business was strictly controlled, as was the ability of the industry to rationalize their physical plant. The Staggers Act removed most, but not all, of these regulatory restrictions. But this is the popular perception correct? By using a F test to compare a series of regressions, this thesis argues that Staggers did produce a structural change in the industry. Moreover, this thesis asserts that the changes noted in the results are consistent with the view that deregulation has been a success - that the industry is more efficient and that the benefits of deregulation have been shared between the railroads and the public. / Master of Arts

This work focuses on globalization, more closely on the economic aspects of this process. Small countries, especially developing ones are in the spotlight, as they face unique challenges that have been addressed by the international community for decades at least. The success rate of the intervention is very questionable and leaves room for improvement, which may be a platform to elevate millions out of poverty, solve crippling problems, provide access to technology and improve the global economic system. The uniting hypothesis is that that small developing nations are functioning in a hostile environment when it comes to trade, intellectual property protection and debt, which makes it extremely difficult for them to globalize competitively. Economic history, trade and technology are the main filters of this research. Conventional economic theory like market fundamentalism, and international trade theories will be discussed. A holistic literature review, will try to depict the many sides of the argument. The data used will be from the World Competitiveness Report, World Bank's World Development Indicators, other World Bank data, apropriatiate statistical offices. A case study is implemented to conclude the thesis and in this case to evaluate the hypothesis as only partly true, since small...

by Ling Wai Chee, Sarah, Mak Wai Kwan, Max. / Thesis (M.B.A.)--Chinese University of Hong Kong, 1995. / Includes bibliographical references (leaves 83-86). / ABSTRACT --- p.ii / TABLE OF CONTENTS --- p.v / LIST OF TABLES --- p.viii / ACKNOWLEDGMENTS --- p.ix / Chapter / Chapter I. --- INTRODUCTION --- p.1 / The Liberalization Trend --- p.2 / Telecommunications Liberalization in Hong Kong --- p.3 / Liberalization of Customer Premises Equipment in the 1980s --- p.3 / Liberalization of Special Telecommunications Services --- p.4 / Liberalization of Local Fixed Telecommunications Market --- p.4 / Liberalization of International Telecommunications Market --- p.5 / Liberalization of Telecommunications between HK and PRC --- p.7 / Research Objectives --- p.7 / Chapter II. --- METHODOLOGY --- p.10 / Methodology Overview --- p.10 / In-Depth Interview --- p.10 / Survey --- p.12 / Data Analysis --- p.15 / Interpretation and Strategic Implications --- p.16 / Chapter III. --- THE HK TELECOMMUNICATIONS MARKET AND SERVICES --- p.17 / Market Overview --- p.17 / Telephone Services --- p.18 / Data Line Services --- p.18 / Value-added Services --- p.19 / Electronic Data Interchange --- p.19 / Video-On-Demand --- p.20 / Wireless Telecommunications Services --- p.21 / Mobile Phone Services --- p.22 / Paging Services --- p.23 / Mobile Data --- p.24 / International Services --- p.24 / Chapter IV. --- THE TELECOMMUNICATION MARKET PLAYERS --- p.27 / Local Carriers in Hong Kong --- p.27 / New T&T (Wharf Group) --- p.28 / New World Telephone (New World Group) --- p.30 / Hutchison Communication (Hutchison Group) --- p.31 / The Incumbent - Hongkong Telecom --- p.32 / Chapter V. --- FINDINGS - EXPLORATORY RESEARCH FACTORS FOR SELECTING A TELECOMMUNICATIONS CARRIER --- p.34 / Price --- p.34 / Geographic Coverage --- p.35 / Service Reliability --- p.36 / Maintenance Service --- p.37 / Sales and Pre-sales Service --- p.39 / Comprehensiveness of Service Offerings --- p.39 / Single Carrier --- p.40 / Telephone Service --- p.41 / Business Flexibility --- p.41 / Future Direction for Advanced Services --- p.42 / Chapter VI. --- FINDINGS - DESCRIPTIVE RESEARCH --- p.43 / Questionnaire Design --- p.43 / Questionnaire Responses --- p.44 / General Observation --- p.44 / Chapter VII. --- STRATEGIC IMPLICATIONS --- p.52 / Implications for Market Positioning --- p.52 / Positioning Alternatives --- p.52 / Positioning for Specific Factors --- p.53 / Positioning for Service Reliability --- p.54 / Positioning for Good Maintenance Service --- p.57 / Positioning for Good Sales and Pre-sales Service --- p.61 / Positioning for Comprehensive Geographic Coverage --- p.64 / Positioning for Comprehensive Service Offerings --- p.68 / Summary of Positioning for Specific Factors --- p.73 / Positioning for Specific Market Segments --- p.74 / Chapter VIII. --- LIMITATIONS --- p.76 / APPENDIX --- p.78 / BIBLIOGRAPHY --- p.83

This thesis presents two models to determine technological change and cost inefficiency in the regulated U.S. Motor Carrier Industry following regulatory reform. Data from the LTL sector of the industry from 1976 to 1987 are used in this study. Results provide insights about the observed increase in industry concentration and the effects of regulatory reform. In chapter II, a translog cost function model is used to examine the impact of deregulation and technological bias. We show that technological change has been labor saving and purchased capital using, and that these input biases were induced by changes in output level. The increase of capital cost share and the decrease of fuel cost share are attributed to deregulation. Overtime, the LTL sector of the motor carrier industry has become more capital intensive resulting in even higher entry barriers. Deregulation has had a negative impact on technological change and led to higher industry costs. In chapter III, a stochastic cost frontier model is used to examine cost inefficiency. Results suggest that cost inefficiency accounts for 12.61% of the industry's total cost and the average level of inefficiency has not significantly changed over time. The mean estimates of firm-specific inefficiencies range between 5.5% and 29.6% for the period 1976-1987. Based on the estimated firm-specific inefficiencies, Tobit regression models are constructed to examine variations of inefficiency among firms in different ICC regions and to identify factors contributing to overall inefficiency. The main factors contributing to inefficiency are output, percent of LTL shipments, and input ratios; in particular, large firms appears to operate more efficiently than small firms. We also show that, although large firms have a slower rate of technological advancement than small firms, economies of scale exist and are increasing over time. Therefore, the rise in industry concentration could be justified from the standpoint of scale economies and efficiency gain. Finally, deregulation has had no impact on the overall level of inefficiency. / Graduation date: 1999

The airline industry has been the subject of numerous studies both before and after deregulation. None of these, however have explicitly modelled the cost savings due to deregulation. This thesis develops a number of testable hypotheses about technological and managerial choice as they pertain to regulatory reform. The results of the tests show that the production technology the airlines developed post-deregulation is not unambiguously more efficient than the pre-deregulatoin technology. The unregulated output and network structure, however, appear to be more efficient than those utilized during regulation. A model is developed to decompose the change in cost due to deregulation. It is found that approximately 5% of the reduction in cost is the result of the new technology while 95% of the savings stems from the new output and network structures.

The formation of airline alliances has been a distinctive feature of the airline business at the threshold of the new millennium. This is due to the framework of Bilateral Air Transport Agreements, which condition the grant of traffic rights to substantial ownership and effective control being vested in nationals of one of the contracting parties. Further regulatory aspects pertaining to airline alliances include competition law review, traffic rights, and slot allocation. / This thesis seeks to elucidate how Star had to adapt its strategic choices to this framework. The outcome will be that in particular the lack of regulatory convergence in competition law matters constitutes a hindrance to a global alliance such as Star. The issue of ownership and control might represent a further obstacle to an alliance intending to rely on mergers or major share holding, an ambition that Star has not nourished so far. Open Skies agreements in force between the U.S., Canada, and several member states of the European Union give alliances full commercial opportunities, unhindered by restrictive capacity or approval of fares provisions. The principles as regards slot allocation, on the other hand, have enabled alliances to build up their hubs as fortresses. / The issues of competition law, and ownership and control illustrate that it has become increasingly insufficient to rely on a merely bilateral approach to global problems. Eventually, satisfactory solutions may only be achieved on a multilateral level. The onus thus is on aviation regulators to come up with a more suitable framework for aviation in the next century. / Multilateralism, however, might turn out to herald the end to the alliance phenomenon. Once the bilateral strait jacket put aside, the aviation industry will consolidate like any other industry: by mergers, that is.

This dissertation deals with the changes which have intervened since the inception of deregulation in the US and Canadian airline industry, in the 'effort bargain'. / It deals first with the role of economic, institutional and legislative conditions, in each country, on labour, through a comparison of aggregate labour outcomes from 1960 to 1990. It subsequently assesses the impact of carriers' strategies to lower costs through an analysis of the collective agreements of pilots, flight attendants, mechanics and agents. This part of the research covers two airlines in each country. / Collected data indicate that deregulation decreased average earnings in both countries but the decline was greater in the US than in Canada. The US's greater decline was found to be linked to the economic context and competitive unionism, which had previously helped unions increase earnings above competitive levels. In the period of deregulation, this system caved in to pressures from the carriers and labour market conditions. / In Canada, the combined outcome of government monetary controls and labour negotiations, patterned after the conditions negotiated by the state-owned airline, kept earnings at more competitive levels. During deregulation, the decline was modest and approximately the same or slightly larger than in other industries. / The comparative analysis across carriers and crafts shows that competitive markets led to an elaborate pattern of contract changes which undermined the previous bargaining pattern as well as the system of labour relations. All airlines sought to cut costs through moderation of wage increases, two-tier wage structure, and work rule and fringe benefit changes. These concessions varied across carriers, work groups, labour market conditions, and the specificity of these jobs. Mechanics, with alternative fields of employment and with a centralized union structure, made the least concessions. / Although there were wage variations in the two countries, due to different pay scales, wages for senior workers have remained almost unchanged since deregulation. The small increases were exchanged for substantially lower wages for new employees and employment-productivity gains. In 1990, top wages were 10% to 20% higher, but those at the entry level were significantly lower in the US than in Canada. / These findings suggest that while competitive markets exert an important influence on labour relations, their influence is best understood historically and in the context of each country's specific circumstances.

[Truncated abstract] “Open Skies” is the term given to a relatively recent (1992) policy initiative of the United States in its pursuit of the deregulation of international air transportation. It represents the latest in a long line of similar initiatives which the U.S. has been pursuing almost since the inception of the aviation industry. Essentially “Open Skies” is little more than a specific type of bilateral aviation agreement between two nations (and often between more than two nations) which typically provides for open entry on routes, unrestricted capacity and frequency on routes, and unrestricted air traffic rights. The significance of Open Skies agreements is that they appear to encapsulate general world-wide trends towards open economies characterised by a minimum of government interference and a maximum reliance on market forces to allocate scarce resources ... Australia however is not one of the nations seeking to become a party to such an agreement with the U.S. despite attempts by that nation to persuade Australia to do so and the question is: Can or should Australia resist attempts by the United States to bring it within the expanding umbrella of Open Skies, or are there other practical alternatives open to Australia? After examining the history of the development of Open Skies agreements and their international legal foundation, this thesis argues that there are strong considerations of policy and economics why Australia should embrace Open Skies initially at least on a regional basis centred in the Asia Pacific region, rather than with the United States. Implicit in that proposal is the fact that in terms of its constitutional and legal system, Australia has the legal capacity to enter into Open Skies agreements. The parties to such a regional Open Skies agreement might at a later date choose to enter into a multilateral Open Skies agreement with the United States, if economic and political conditions are suitable for them to do so. On the assumption that a form of Open Skies policy will eventually be adopted by Australia this thesis examines the constitutional and domestic legal regulatory framework for aviation within Australia, and the changes if any which would be required to it, if Australia was to embrace such a policy.