Papers by Gerald Ollivier
RePEc: Research Papers in Economics, 2015
Two of the largest railway systems in the world-China's and India's-have intensified their focus ... more Two of the largest railway systems in the world-China's and India's-have intensified their focus on the private sector as an indispensable source of capital to help them enlarge their rail capacity. They will find promising options if they recognize the common characteristics of successful efforts, both in their railways and elsewhere: profitability, manageable risks shared appropriately, and shared gains. Even unprofitable rail activities, such as commuter transit, can attract private capital if adequate public subsidies are in place. The Activity Must Yield Profits Private sector investors want to make money. If the activity is inherently profitable-rail car (wagon) operations in Russia, station development in the Hong Kong SAR metro, or freight transport in the United States-private investors will naturally be attracted to it. If the activity is not inherently profitable, then private investment will hinge on sufficient and reliable long-term government subsidies.
for their guidance and support in preparing this report. Pictures on the cover were provided by G... more for their guidance and support in preparing this report. Pictures on the cover were provided by Gerald Ollivier. The team would also like to acknowledge the excellent discussions with Staff from China Railway Corporation that deepened the analysis and informed the report. Any findings, interpretations, and conclusions expressed herein are those of the author and do not necessarily reflect the views of the World Bank. Neither the World Bank nor the author guarantee the accuracy of any data or other information contained in this document and accept no responsibility whatsoever for any consequence of their use. All rights reserved Rights and Permissions The material in this publication is copyrighted. Copying and/or transmitting portions or all of this work without permission may be a violation of applicable law.
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Papers by Gerald Ollivier