Implementing U.S. Airline Industry Deregulation: Lessons for Emerging Countries

  • Pietro Masci George Mason University and Inter-American Development Bank

Abstract

Airline deregulation began in the United States in 1978, introducing dramatic changes that opened the door to competition, lowered fares, and reshaped the industry. It also created new problems, leaving major carriers in a precarious financial condition, increasing congestion in airport terminals and in the air, and leading to mergers that could eventually threaten the competition the original reforms were designed to encourage. During the past 30 years, new issues have emerged and become prominent—particularly safety and security. After more than a quarter century, it is important to review what has happened and to delineate the lessons that can be learned from the deregulation experience.

Author Biography

Pietro Masci, George Mason University and Inter-American Development Bank
Pietro Masci, is Chief of the Infrastructure and Financial Markets Division of the Inter-American Development Bank. He worked for the Italian Treasury and was responsible at various stages for the external borrowing programs, management of public debt and Government bonds, Export financing, multilateral banks and aid programs. He has also worked with the Inter-American Investment Corporation and World Bank. He has various publications mostly on financial markets. Pietro Masci holds degrees in Political Science and Economics from the University of Rome and an MBA in Finance from George Washington University. He is a Doctoral student completing his dissertation at the School of Public Policy of George Mason University.
Issue
Vol. 2 No. 2 (2007)
Section
Articles

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