Econometric Analysis of Effects of Unbundling Policy on Costs and Demand

• Project/Area Number: 26380298
• Research Category: Grant-in-Aid for Scientific Research (C)
• Allocation Type: Multi-year Fund
• Section: 一般
• Research Field: Economic policy
• Research Institution: Kobe University
• Principal Investigator: Mizutani Fumitoshi 神戸大学, 経営学研究科, 教授 (60263365)
• Co-Investigator(Kenkyū-buntansha): 浦西 秀司 大阪市立大学, 大学院経済学研究科, 教授 (80362820)
• Project Period (FY): 2014-04-01 – 2017-03-31
• Project Status: Completed (Fiscal Year 2016)
• Budget Amount: ¥4,420,000 (Direct Cost: ¥3,400,000、Indirect Cost: ¥1,020,000); Fiscal Year 2016: ¥1,300,000 (Direct Cost: ¥1,000,000、Indirect Cost: ¥300,000); Fiscal Year 2015: ¥1,430,000 (Direct Cost: ¥1,100,000、Indirect Cost: ¥330,000); Fiscal Year 2014: ¥1,690,000 (Direct Cost: ¥1,300,000、Indirect Cost: ¥390,000)
• Keywords: アンバンドリング / 上下分離 / 鉄道事業 / 水平分離 / 費用関数 / 需要関数 / 鉄道

Outline of Final Research Achievements

The main results of this research are as follows: (i) the holding company type has a cost saving effect but it is not large. The effect of this type’s unbundling does not change according to train density. (ii) Costs are reduced by vertical separation. However, as train density increases, the reduction rate decreases, eventually leading to cost increase. (iii) Transport demand for passenger and freight tends to increase as overall deregulation progresses. (iv) With passenger transportation, as the degree of entry regulation decreases, and as the degree of vertical separation increases, the amount of transport increases. (v) On the other hand, with freight transportation, as the degree of entry regulation decreases, and as the market structure becomes more competitive, the transport volume increases.

Research Products

• [Int'l Joint Research] University of Leeds(United Kingdom)
• [Journal Article] 企業政府関係 (2016)
  • Author(s): 水谷文俊
  • Journal Title: ハンドブック経営学［改訂版］ Volume: 第15章 Pages: 229-247
• [Journal Article] Comparing the Costs of Vertical Separation, Integration, and Intermediate Organisational Structures in European and East Asian Railways (2015)
  • Author(s): Fumitoshi Mizutani, Andrew Smith, Chris Nash, Shuji Uranishi
  • Journal Title: Journal of Transport Economics and Policy Volume: Vol.49, No.3 Pages: 496-515
  • Peer Reviewed / Open Access / Int'l Joint Research / Acknowledgement Compliant
• [Journal Article] Railways Branch Out (2015)
  • Author(s): Fumitoshi Mizutani
  • Journal Title: Metro Report International Volume: June Pages: 3-5
• [Journal Article] Estimation of Optimal Metropolitan Size in Japan with Consideration of Social Costs (2014)
  • Author(s): F. Mizutani, T. Tanaka, N. Nakayama
  • Journal Title: Empirical Economics Volume: 48(4) Issue: 4 Pages: 1713-1730
  • DOI: 10.1007/s00181-014-0850-6
  • Peer Reviewed / Open Access
• [Journal Article] How does market size affect vertical structure when considering vertical coordination? Application to the railway industry (2014)
  • Author(s): Noriaki Matsushima, Fumitoshi Mizutani
  • Journal Title: Pacific Economic Review Volume: 19 Issue: 5 Pages: 657-676
  • DOI: 10.1111/1468-0106.12088
  • Peer Reviewed
• [Journal Article] Structural Reforms in the Railways: Incentive Misalignment and Cost Implications (2014)
  • Author(s): C. Nash, A. Smith, D. van de Velde, F. Mizutani and S. Uranishi
  • Journal Title: Research in Transportation Economics Volume: 48 Pages: 16-22
  • DOI: 10.1016/j.retrec.2014.09.027
  • Peer Reviewed
• [Presentation] Japanese Railway Model (2016)
  • Author(s): Fumitoshi Mizutani
  • Organizer: UITP Policy Board Meeting
  • Place of Presentation: Tokyo Station Conference, Tokyo, Japan
  • Year and Date: 2016-04-20
  • Int'l Joint Research / Invited
• [Presentation] Estimation of Social Costs of Highways in Japan (2015)
  • Author(s): Fumitoshi Mizutani, Yusuke Suzuki, Shuji Uranish
  • Organizer: The 55th European Regional Science Association Congress
  • Place of Presentation: Lisbon(Portugal)
  • Year and Date: 2015-08-25
  • Int'l Joint Research
• [Presentation] An Analysis of the Effects of the Compact City on Economic Activities in Japan (2015)
  • Author(s): Fumitoshi Mizutani, Noriyoshi Nakayama, Tomoyasu Tanaka
  • Organizer: The 55th European Regional Science Association Congress
  • Place of Presentation: Lisbon(Portugal)
  • Year and Date: 2015-08-25
  • Int'l Joint Research
• [Presentation] Horizontal Separation and Regulatory Policy in Japan (2014)
  • Author(s): Fumitoshi Mizutani
  • Organizer: Symposium on Railway Competitiveness Improvement Organized by Korean Ministry of Land, Infrastructure and Transport and the Korea Transport Institute
  • Place of Presentation: The-K Seoul Hotel, Seoul, Korea
  • Year and Date: 2014-06-19
  • Invited
• [Book] Rail Economics, Policy and Regulation in Europe (2015)
  • Author(s): Matthias Finger and Pierre Messula (eds.), Matthias Finger and Pierre Messulam, Nacima Baron, Didier van de Velde, Silvia Olsen, Nils Fearnley and Julie Runde Krogstad, Nils Fearnley and Julie Runde Krogstad, Fumitoshi Mizutani 他
  • Total Pages: 392
  • Publisher: Edward Elgar