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A Theory of Regulatory Cycles in Public Transport

Student: Han Hyen jin

Supervisor: Andrei Dementiev

Faculty: International College of Economics and Finance

Educational Programme: Double degree programme in Economics of the NRU HSE and the University of London (Bachelor)

Year of Graduation: 2019

This paper examines the regulatory cycle in public transport industry. Empirically, the cyclical trend was observed in different forms of supply: public monopoly, competitive supply, private monopoly, regulated private monopoly. Regulatory cycles are discussed for three different economies evaluating the drivers of the cycle. A model is proposed to illustrate the regulatory cycle and assess whether the cycle is inevitable. Regulatory cycle is presented using analytical approach and the possibility of non-cyclical trend is discussed. Paper concludes that there is instability in the supply state though it is not necessary for the trend to be cyclical.

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