Public regulation and technical efficiency in the Spanish Port Authorities: 1986-2012

This research analyses the impact of public regulation on the efficiency of the Spanish Ports Authorities during the last three decades. To this end, using Stochastic Frontier Analysis (SFA), an input-oriented distance model has been estimated for a sample of 26 Port Authorities during the period 1986-2012. This paper contributes to the literature by establishing a direct correlation between the reform and the change in efficiency. Four regulatory changes have been carried out in the Spanish port system during the last three decades: Act 27/1992, Act 62/1997, Act 48/2003 and Act 33/2010. In line with other reforming countries around the world, the regulatory reforms rested on three key instruments: decentralisation (port autonomy), participation of private sector and introduction of competition. This paper supports that Act 62/1997 and Act 48/2003 focused on the promotion of port autonomy, privatisation and inter-port competition and had a positive impact on the efficiency of the Spanish port system. (C) 2016 Elsevier Ltd. All rights reserved.