Last year's Budget presented by the Chancellor of the Exchequer, Gordon Brown, on March 17, 1998, proposed radical changes to the way the capital gains of individuals and trusts are to be taxed in the United Kingdom. These changes--and in particular the abolition of indexation for assets...

Das Beispiel Japans zeigt, dass und wie die Umstrukturierung einer Staatsbahn zu einem privaten, kapitalmarktfähigen Unternehmen verlaufen kann, auch ohne komplette Trennung von Zugbetrieb und Gleisnetz. Der Einsturz der Gewinne und damit der Aktienkurse vor kurzem scheint dazu im Widerspruch...

In this paper we compare the privatisation and deregulation experience of German railroads with the telecommunications sector. In section 2 the period of nationalisation, legal entry barriers and self-regulation for the German railroad and the telecommunications sector is characterized. Section...

In the last decade the industrial landscape and regulatory structures of the network industries such as telecommunications, energy and rail transport, have undergone a profound transformation. Liberalization has fragmented the former natural monopoly sectors; new players with new preferences...