This study investigates the concessioning of the commuter rail subsystem, which was discussed in the White Paper on National Transport Policy. The theoretical divide between private and public sector enterprise is investigated in terms of a principal-agent approach. The hypothesis underlying the fundamental shift of services traditionally provided by government enterprise to the private sector is X-efficiency gains under a concession regime. There are, however, potential challenges under a concession regime that must be anticipated. Challenges are identified in terms of an incomplete contract approach with its underpinning source manifested in a bounded rationality concept. The study investigates how rail concessionaires are regulated under a concession regime from an economics perspective and various price mechanisms are explored. The study provides strategies to deal with challenges under a rail concession regime with a view to minimising conflicts that will arise between the parties involved in a concession agreement. / Transport, Logistics & Tourism / M.Comm.(Transport Economics)

This study investigates the concessioning of the commuter rail subsystem, which was discussed in the White Paper on National Transport Policy. The theoretical divide between private and public sector enterprise is investigated in terms of a principal-agent approach. The hypothesis underlying the fundamental shift of services traditionally provided by government enterprise to the private sector is X-efficiency gains under a concession regime. There are, however, potential challenges under a concession regime that must be anticipated. Challenges are identified in terms of an incomplete contract approach with its underpinning source manifested in a bounded rationality concept. The study investigates how rail concessionaires are regulated under a concession regime from an economics perspective and various price mechanisms are explored. The study provides strategies to deal with challenges under a rail concession regime with a view to minimising conflicts that will arise between the parties involved in a concession agreement. / Transport, Logistics and Tourism / M.Comm.(Transport Economics)

As the global economy and market demands evolve to be more transparent, time-sensitive and competitive, privatisation in organisations has become a phenomenon renowned for the advantages it delivers of increased productivity and profitability. Port privatisation is no exception. Aimed at achieving improved operational efficiencies and the reduction of port costs, port privatisation has evolved and yielded varying results. Depending on prevailing social, economic and political circumstances, these effects differ amongst countries. This dissertation analyses this phenomenon, focusing on whether a port and its related services are public or private goods; why governments choose to produce and provide port services; what various international port privatisation models can positive lessons be drawn from; and what the impacts of port privatisation are. South Africa has recently avoided the arguments around port privatisation, due to pressing socio-political issues, and the analysis of economic gains and losses associated with privatisation may offer insights into why such government decisions would have been made. / Economics / M. Com. (Economics)

As the global economy and market demands evolve to be more transparent, time-sensitive and competitive, privatisation in organisations has become a phenomenon renowned for the advantages it delivers of increased productivity and profitability. Port privatisation is no exception. Aimed at achieving improved operational efficiencies and the reduction of port costs, port privatisation has evolved and yielded varying results. Depending on prevailing social, economic and political circumstances, these effects differ amongst countries. This dissertation analyses this phenomenon, focusing on whether a port and its related services are public or private goods; why governments choose to produce and provide port services; what various international port privatisation models can positive lessons be drawn from; and what the impacts of port privatisation are. South Africa has recently avoided the arguments around port privatisation, due to pressing socio-political issues, and the analysis of economic gains and losses associated with privatisation may offer insights into why such government decisions would have been made. / Economics / M. Com. (Economics)