The paper examines the current account of 41 major airports. When we exclude depreciation costs, only seven airports are profitable. When depreciation is excluded, only three airports are making profits. Airports managed by local governments are very difficult to sustain financially without...

In order to improve the country's monopolistic environment, the Japanese government took several deregulation measures during the last decade. However, industrial monopolies remain regionally; some new mechanism has therefore become necessary to induce the regional monopoly firms improve the...