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Evaluating airport and seaport privatization: a synthesis of the effects of the forms of ownership on performance

Avaliação de privatizações de aeroportos e portos: uma síntese dos efeitos dos tipos de propriedades no desempenho

Abstracts

Assessing the effects of ownership structure on efficiency has received considerable attention in the aviation management literature. Commercialization has been widely employed both in developing and developed countries as a means of increasing operational efficiency. Since airports and seaports are operationally similar, this paper examines the literature and methods used to assess the effects of privatization in both types of infrastructure. We observe that the impact of privatization on performance depends not only on the degree of privatization but on the competition in the market. Following a 4-level specification commonly employed in the seaport literature that captures degrees of privatization, we estimate a stochastic frontier model for airport efficiency as a function of ownership. We conclude that airport authorities in the United States are equally as efficient as fully privatized airports elsewhere, due to a high degree of competition and fiscal independence from the other governmental entities. Additionally, while privatization may be an effective mechanism of introducing corporatization into infrastructures that are characterized by poor competition and direct government control, the airport authority appears to achieve the benefits of privatization in operation without actual transfer of ownership.

airport; seaport; privatization; ownership; performance; stochastic frontier


A avaliação dos efeitos da estrutura de propriedade sobre a eficiência tem recebido considerável atenção na literatura de gestão do transporte aéreo. Concessões privadas têm sido amplamente utilizadas tanto em países desenvolvidos e em desenvolvimento, como meio de aumentar a eficiência operacional. Uma vez que os aeroportos e portos marítimos são operacionalmente similares, este trabalho examina a literatura e os métodos utilizados para avaliar os efeitos da privatização em ambos os tipos de infraestrutura. Observa-se que o impacto da privatização sobre o desempenho depende não só do grau da privatização, mas da competição no mercado. Usando uma especificação de 4-níveis comumente empregada na literatura de portos, e que controla os graus de privatização, estimamos um modelo de fronteira estocástica para a eficiência do aeroporto em função da propriedade. Concluímos que as autoridades aeroportuárias nos Estados Unidos são tão eficientes quanto os aeroportos totalmente privatizados em outros lugares, devido a um elevado grau de competição e independência fiscal de outras entidades governamentais. Além disso, embora a privatização possa ser um mecanismo eficaz de introduzir corporativização em infraestruturas que se caracterizam pela concorrência pobres e controle direto do governo, a autoridade aeroportuária parece alcançar os benefícios da privatização em operação sem a transferência real de propriedade.

aeroportos; portos; privatização; propriedade; desempenho; fronteira estocástica


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Publication Dates

  • Publication in this collection
    03 Oct 2014
  • Date of issue
    Mar 2012

History

  • Received
    12 Nov 2011
  • Accepted
    30 Jan 2012
  • Reviewed
    09 Dec 2011
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