Scipediacontent: Scipediacontent moved page Draft Content 988037973 to Crafts et al 2007a

2021-01-21T13:36:00Z

Scipediacontent moved page Draft Content 988037973 to Crafts et al 2007a

Scipediacontent: Created page with " == Abstract == This is a revised version of a previous working paper, of the same name, which incorporates corrections to errors in our estimates of TFP growth. This paper e..."

2021-01-21T13:35:56Z

Created page with " == Abstract == This is a revised version of a previous working paper, of the same name, which incorporates corrections to errors in our estimates of TFP growth. This paper e..."

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== Abstract ==

This is a revised version of a previous working paper, of the same name, which incorporates corrections to errors in our estimates of TFP growth. This paper examines major privately-owned British railway companies before World War I. Quantitative evidence is presented on return on capital employed, total factor productivity growth, cost inefficiency, and speed of passenger services. There were discrepancies in performance across companies but ROCE and TFP typically fell during our period. Cost inefficiency rose before 1900 but then was brought under control as a profits collapse loomed. Without the discipline of either strong competition or effective regulation, managerial failure was common. This sector is an important qualification to the conventional wisdom that late-Victorian Britain did not fail.

== Original document ==

The different versions of the original document can be found in:

* [http://eprints.lse.ac.uk/22549 http://eprints.lse.ac.uk/22549]

* [http://eprints.lse.ac.uk/27889 http://eprints.lse.ac.uk/27889]

* [http://eprints.lse.ac.uk/22549 http://eprints.lse.ac.uk/22549],
: [http://www.lse.ac.uk/collections/economicHistory http://www.lse.ac.uk/collections/economicHistory]

* [http://eprints.lse.ac.uk/27889 http://eprints.lse.ac.uk/27889],
: [http://www2.lse.ac.uk/economicHistory/workingPapers/working_papers.aspx http://www2.lse.ac.uk/economicHistory/workingPapers/working_papers.aspx]

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Crafts et al 2007a - Revision history

Scipediacontent: Scipediacontent moved page Draft Content 988037973 to Crafts et al 2007a

Scipediacontent: Created page with " == Abstract == This is a revised version of a previous working paper, of the same name, which incorporates corrections to errors in our estimates of TFP growth. This paper e..."