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?Taken for a Ride?: The Privatization of the UK Railway Rolling Stock Industry

McCartney, S and Stittle, J (2008) '?Taken for a Ride?: The Privatization of the UK Railway Rolling Stock Industry.' Public Money and Management, 28 (2). pp. 93-100. ISSN 0954-0962

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Abstract

The three UK rolling stock companies (ROSCOs) are a product of the privatization of the railway industry in the 1990s. As the UK approaches the 25th anniversary of the first privatization of a state-owned industry (telecommunications), this article evaluates the background and the structure of the ROSCO privatization sales. The authors show that the privatization of the UK's rolling stock industry was a significant triumph of political expediency over sound governmental financial policy. The ROSCOs have attracted relatively little attention, yet nowhere else have the flaws in the privatization process become more apparent.

Item Type: Article
Subjects: H Social Sciences > HG Finance
T Technology > TF Railroad engineering and operation
Divisions: Faculty of Social Sciences
Faculty of Social Sciences > Essex Business School
Faculty of Social Sciences > Essex Business School > Essex Accounting Centre
SWORD Depositor: Elements
Depositing User: Elements
Date Deposited: 17 Dec 2012 12:51
Last Modified: 06 Jan 2022 13:30
URI: http://repository.essex.ac.uk/id/eprint/4742

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