Ownership forms matter for airport efficiency: A stochastic frontier investigation of worldwide airports
We study the effects of ownership forms on airports' cost efficiency by applying stochastic frontier analysis to a panel data of the world's major airports. Our key findings are: (a) Countries considering privatization of airports should transfer majority shares to the private sector; (b) Mixed ownership of airport with a government majority should be avoided in favor of even 100% government owned public firm; (c) US airports operated by port authorities should consider to transfer ownership/management to independent airport authorities; and (d) Privatization of one or more airports in cities with multiple airports would improve the efficiency of all airports.
Year of publication: |
2008
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Authors: | Oum, Tae H. ; Yan, Jia ; Yu, Chunyan |
Published in: |
Journal of Urban Economics. - Elsevier, ISSN 0094-1190. - Vol. 64.2008, 2, p. 422-435
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Publisher: |
Elsevier |
Keywords: | Ownership forms Airports Translog cost system Stochastic frontier Bayesian approach |
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