Applying the life cycle theory: the rise and fall of railways
| Authors | |
|---|---|
| Year of publication | 2008 |
| Type | Article in Periodical |
| Magazine / Source | The Journal of Transport History |
| MU Faculty or unit | |
| Citation | |
| Web | http://journals.mup.man.ac.uk/cgi-bin/MUP?COMval=journal&key=JTH |
| Field | Economy |
| Keywords | life cycle railways |
| Description | The paper focuses on the market share decline of railway transport in developed countries. The paper starts with a basic analysis of economic history of railways. The idea of product life-cycle is then applied to interpret a long term economic development of railways. The decline of railways is understood as a period in a structural life-cycle of the industry. The key determinants of the decline are identified as road transport competition, changing patterns of the economy and railways internal inflexibility. |
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