Assessing the Impact of the Latest Deregulatory Developments in the EU28 Transport Industry Production: a Critical Review Based on Empirical Data

The European Transport Industry has been heavily deregulated during the past 30 years, through initiatives that increase competition among incumbents primarily by reducing the entry restrictions and by opening the market(s) for non-state owned companies. This paper discusses the impact the latest interventions by the European Commission in terms of further opening the transport industry have had. By analyzing current data, the impact of economic deregulation on the volume of transport industry production is studied. The empirical evidence confirm the positive impact on the system wide level suggesting the further use of deregulatory tools in order to support the industry growth. Additionally, recommendations for further research are made in order to understand more in depth the indirect effects of deregulation.