"Such a silly scheme": The privatisation of Britain's railways 1992-2002

Critical Perspectives on Accounting

Volumn 14, Issue 6, 2003, Pages 617-645

  Crompton, Gerald ^a   Jupe, Robert ^a  

^a UNIVERSITY OF KENT   (United Kingdom)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 0038011108     PISSN: 10452354     EISSN: None     Source Type: Journal    
DOI: 10.1016/S1045-2354(02)00187-9     Document Type: Article

References (84)

1. Alchian, A. A., "Some Economics of Property Rights", II Politico, Vol. 30, 1965, pp. 816-829.
2. Batchelor, C., "How They Sold the Railways", Financial Times, May 20, 1996, p. 17.
3. Batchelor, C., "Railtrack Denies Cuffing Back on Basic Renewal", Financial Times, June 9, 1999, p. 11.
4. Batchelor, C.&Parker, G., "Railtrack Faces Renewed Claims of Profiteering", Financial Times, May 28, 1999, p. 23.
5. Bilefsky, D., "Regulator Renews Attack on Railtrack", Financial Times, August 27, 1999, p. 9.
6. Bishop, M.&Kay, J., Does Privatisation Work? Lessons from the UK (London: Centre for Business Strategy, London Business School, 1988).
7. Bishop, M.&Thompson, D. J., "Regulatory Reform and Productivity Growth in the UK's Public Utilities", Applied Economics, Vol. 24, 1992, pp. 1181-1190.
8. Booz, Allen&Hamilton, "Railtrack's Performance in the Control Period 1995-2001: Final Report", Consultants Report for the Office of the Rail Regulator (London: ORR, 1999).
9. Cullen, L., The Ladbrooke Grove Rail Inquiry Part 1 Report (Suffolk: HSE Books, 2001).
10. Curwen, P., Public Enterprise: A Modern Approach (London: Wheatsheaf, 1986).
11. Davies, R., "The Privatisation of British Rail", in B. Bradshaw&H. Lawton Smith (eds), Privatization and Deregulation of Transport, pp. 103-136 (London: Macmillan Press Ltd., 2000).
12. Department of the Environment, Transport and the Regions, Transport 2010-The 10 Year Plan (London: DETR, 2000).
13. Department of Transport, New Opportunities for the Railways-The Privatisation of BR (London: HMSO, 1992, Cm 2012).
14. Donald, D.&Hutton, A., "Public Purpose and Private Ownership: Some Implications of the "Great Capitalist Restoration" for the Politicisation of Private Sector Firms in Britain", Journal of Economic Issues, Vol. 32, No. 2, June 1998, pp. 457-464.
15. The Economist, "Inevitable", October 16, 1999, p. 37.
16. Ehrlich, I., Gallais-Hamonno, G., Liu, Z.&Lutter, R., "Productivity Growth and Firm Ownership: An Analytical and Empirical Investigation", Journal of Political Economy, Vol. 102, No. 5, 1994, pp. 1006-1038.
17. Feigenbaum, H. et al., "The United Kingdom: From Pragmatic to Systemic Privatization" in H. Feigenbaum, J. Henig&C. Hamnett (eds), Shrinking the State, pp. 59-86 (Cambridge: Cambridge University Press, 1998).
18. Felsted, A., "Railtrack Collapse Costs £755,000 per Week", Financial Times, April 8, 2002, p. 4.
19. Flemming, J.&Mayer, C., "The Assessment: Public-Sector Investment", Oxford Review of Economic Policy, Vol. 13, No. 4, 1997, pp. 1-11.
20. Ford, R. "Railtrack 'Investment'-Money Into a Black Hole?", Modern Railways, July 2000, pp. 19-21.
21. Foster, C., The Economics of Rail Privatisation (London/Bath: Centre for the Study of Regulated Industries, 1994).
22. Furubotn, E. G.&Pejovich, S., Economics of Property Rights (Cambridge, Mass: Ballinger, 1974).
23. Goodman, J. B.&Loveman, G. W., "Does Privatisation Serve the Public Interest?", Harvard Business Review, Vol. 69, No. 6, 1991, pp. 26-38.
24. Gourvish, T., British Rail 1974-97: From Integration to Privatisation (Oxford: Oxford University Press, 2002).
25. Haigh, P., "Railtrack Share Price Collapses", Rail, No. 411, June 13-26, 2001, p. 4.
26. Harper, K., "New Trains are Running Late", The Guardian, July 11, 1998, p. 24.
27. Harper, K., "Railtrack Wins Big Fees Increase", The Guardian, July 28, 2000, p. 23.
28. Harper, K., "Excuses, and Cash Supply, Finally Ran Out", The Guardian, October 8, 2001a, p. 10.
29. Harris, N. G.&Godward, E., The Privatisation of British Rail (London: Railway Consultancy Press, 1997).
30. Health and Safety Executive, Train Derailment at Potters Bar Friday 10 May 2002: Interim Report (London: HSE, 2002).
31. Hope, R., Letter to Financial Times, October 29, 2001, p. 20.
32. House of Commons, Select Committee on Environment, Transport and Regional Affairs, The Work of the Strategic Rail Authority, Oral Evidence, HC 434-I of Session 2000-2001 (London: Stationery Office).
33. House of Commons, Select Committee on Transport, Railway Finances, Memoranda of Evidence, HC 206 II of Session 1994-1995 (London: HMSO).
34. House of Commons, Select Committee on Transport, Local Government and the Regions, Passenger Rail Franchising and the Future of Railway Infrastructure, HC 239-I of Session 2001-2002 (London: Stationery Office).
35. Jackson, P. M.&Price, C., "Privatisation and Regulation: A Review of the Issues" in P. M. Jackson&C. Price (eds), Privatisation and Regulation: A Review of the Issues, pp. 1-34 (Essex: Longman Group Ltd., 1994).
36. Jowit, J., "How the Privatisation Experience was Derailed by Conflicting Interests", Financial Times, October 8, 2001a, p. 9.
37. Jowit, J., "Railtrack Collapses as Byers Pulls Plug", Financial Times, October 8, 2001b, p. 9.
38. Jowit, J., "Railtrack Seeks to Reassure Shareholders Over Delayed Deal", Financial Times, June 25, 2002, p. 4.
39. Kain, P., "The Reform of Rail Transport in Great Britain", Journal of Transport Economics and Policy, Vol. 32, No. 2, 1998, pp. 247-266.
40. Kirk, R. J.&Wall, A. P., "Substance, Form and PFI Contracts", Public Money&Management, Vol. 21, No. 3, 2001, pp. 41-46.
41. Letza, S.&Smallman, C., "In Pure Water There is a Pleasure Begrudged By None: On Ownership, Accountability and Control in a Privatized Utility", Critical Perspectives on Accounting, Vol. 12, No. 1, 2001, pp. 65-85.
42. Lex, "Fast Track", Financial Times, November 16/17, 1996, p. 20.
43. Littlechild, S., "Regulation of British Telecom's Profitability", Report to the Secretary of State, Department of Trade and Industry (London: HMSO, 1983).
44. Martin, S.&Parker, D., "Privatisation and Economic Performance throughout the UK Business Cycle", Managerial and Decision Economics, Vol. 16, No. 3, 1995, pp. 225-237.
45. Mitchell, W. C., Government as it is, Hobart Paper 109 (London: Institute of Economic Affairs, 1988).
46. Murray, A., Off the Rails (London: Verso, 2001).
47. Nash, C. A., "Privatization and Deregulation in Railways: An Assessment of the British Approach" in B. Bradshaw&H. Lawton Smith (eds), Privatization and Deregulation of Transport, pp. 159-176 (London: Macmillan Press Ltd., 2000).
48. National Audit Office, Privatisation of the Rolling Stock Leasing Companies (London: Stationery Office, 1998a, HC 576).
49. National Audit Office, The Flotation of Railtrack (London: Stationery Office, 1998b, HC 25).
50. National Audit Office, Ensuring that Railtrack Maintain and Renew the Railway Network (London: Stationery Office, 2000a, HC 397).
51. National Audit Office, Shadow Strategic Rail Authority: Action to improve passenger rail services (London: Stationery Office, 2000b, HC 842).
52. Niskanen W. A., Bureaucracy and Representative Government (New York: Aldine-Atherton, 1971).
53. Observer, Editorial, "We have a right to rail safety", May 12, 2002, p. 28.
54. Office of the Rail Regulator, The Periodic Review of Railtrack's Access Charges: Draft Conclusions, Vol. I (London: ORR, 2000a).
55. Office of the Rail Regulator, The Periodic Review of Railtrack's Access Charges: Final Conclusions, Vol. I (London: ORR, 2000b).
56. Ogden, S. G., "Accounting for Organizational Performance: The Construction of the Customer in the Privatized Water Industry", Accounting, Organizations and Society, Vol. 22, No. 6, 1997, pp. 529-556.
57. Preston, J., Privatising, Transport Industries: The British Experience (Leeds: University Institute for Transport Studies, 1993).
58. Preston, J., "The Economics of British Rail Privatisation: An assessment", Transport Reviews, Vol. 16, No. 1, 1996, pp. 1-21.
59. Price, C., "Economic Regulation of Privatised Monopolies" in P. M. Jackson&C. Price (eds), in Privatisation and Regulation: A Review of the Issues, pp. 77-98 (Essex: Longman Group Ltd., 1994).
60. Railtrack Group plc, Annual Report and Accounts (London: Railtrack, 1995/1996 to 2000/2001).
61. Rose, R., "Privatisation as a Problem of Satisficing and Dissatisficing", American Review of Public Administration, Vol. 19, No. 2, 1989, pp. 97-118.
62. Shaoul, J., "A Critical Financial Analysis of the Performance of Privatised Industries: The Case of the Water Industry in England and Wales", Critical Perspectives on Accounting, Vol. 8, No. 5, 1997, pp. 479-505.
63. Shaoul, J., "Critical Financial Analysis and Accounting for Stakeholders", Critical Perspectives on Accounting, Vol. 9, No. 2, 1998, pp. 235-249.
64. Shaoul, J., "On the Wrong Track?", Public Finance, November 3-9, 2000, pp. 20-22.
65. Shaoul, J., "A Financial Appraisal of the London Underground Public-Private Partnership", Public Money&Management, Vol. 22, No. 2, 2002, pp. 53-60.
66. Shires, J. D., Preston, J. M., Nash, C. A.&Wardman, M., "Rail Privatisation: The Economic Theory", Working Paper 419, University Institute for Transport Studies, Leeds, 1994.
67. Shires, J. D., Preston, J. M., Nash, C. A.&Wardman, M., "Rail Privatisation: The Practice - An Analysis of Seven Case Studies", Working Paper 420, University Institute for Transport Studies, Leeds, 1997.
68. Stittle, J., "Regulatory Control of the Track Access Charges of Railtrack plc", Public Money&Management, Vol. 22, No. 1, 2002, pp. 49-54.
69. Strategic Rail Authority, Towards a Safer Better Bigger Railway: Annual Report 2000-2001 (London: SRA, 2001).
70. Strategic Rail Authority, The Strategic Plan (London: SRA, 2002a).
71. Strategic Rail Authority, National Rail Trends (London: SRA, 2002b).
72. Swift, J., "The Role of the Rail Regulator", in R. Freeman &J. Shaw (eds), British Rail Privatisation, pp. 205-228 (London: McGraw-Hill, 2000).
73. Terry, F., "The Nemesis of Privatization: Railway Policy in Retrospect", Public Money&Management, Vol. 21, No. 1, 2001, pp. 4-6.
74. Travis, A.&Wells, M., "Nationalise Railtrack, Says Public", The Guardian, October 26, 1999, p. 1.
75. Uff, J., The Southall Rail Accident Report (Suffolk: HSE Books, 2000).
76. Veljanovski, C., Selling the State (London: Wiedenfield and Nicholson, 1987).
77. Vickers, J.&Wright, V., The Politics of Industrial Privatisation in Western Europe (London: Weidenfield and Nicholson, 1989).
78. Walters, J., "Railtrack: Spend More on Freight", The Observer (Business), November 17, 1996, p. 3.
79. Walters, J., "Regulator Slams Rail Underspend", The Observer (Business), February 2, 1997, p. 3.
80. Welsby, J., "What Next in UK Railways?", in M. E. Beesley (ed.), Regulating the Utilities: Understanding the Issues, IEA Readings 48 (London: Institute of Economic Affairs, 1998).
81. Wighton, D., "Rail Privatisation Could Cost Taxpayer £1 Billion", Financial Times, March 5, 1998, p. 8.
82. Willman, J., "End of the Line", Financial Times, October 8, 2001, p. 26.
83. Wolmar, C., Broken Rails: How Privatisation Wrecked Britain's Railways (London: Aurum Press, 2001a).
84. Wolmar, C., "Why Railtrack's Fall was a Revolution Waiting to Happen", Rail, No. 420, October 17-30, 2001b, pp. 24-25.