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conference paper

Does the liberalization of the European railway sector increase systemic risk?

Laperrouza, Marc  
Palmer, Charles
•
Shenoi, Sujeet
2009
Critical Infrastructure Protection III
Third Annual IFIP WG 11.10 International Conference on Critical Infrastructure Protection

Recent large-scale blackouts and other incidents have shown that failures in network industries can have serious economic and social consequences. A large body of literature covers critical infrastructures (and their protection), but most of it is confined to a relatively restricted number of sectors such as electricity and information and communications technology (ICT). In addition, much of the literature discusses systemic risk in complex networks from an engineering perspective with the goal of mitigating risk using quantitative techniques. The railway sector is a critical infrastructure that shares a number of characteristics with electricity (e.g. interconnection), but it has received little attention when it comes to systemic risk. This paper analyzes the extent to which the liberalization of the railway system increases the sector’s systemic risk, a pressing question in the wake of the creation of a single European railway market. The paper also discusses the broader issue of the governance of systemic risk in the railway sector, especially since the mitigation of risk tends to be limited to risk management from a technical perspective while ignoring the institutional dimension.

  • Details
  • Metrics
Type
conference paper
DOI
10.1007/978-3-642-04798-5_2
Author(s)
Laperrouza, Marc  
Editors
Palmer, Charles
•
Shenoi, Sujeet
Date Issued

2009

Publisher

Springer

Publisher place

Boston

Published in
Critical Infrastructure Protection III
Series title/Series vol.

IFIP Advances in Information and Communication Technology; 311

Start page

19

End page

33

Subjects

systemic risk

•

European railway sector

•

liberalization

Written at

EPFL

EPFL units
MIR  
Event nameEvent placeEvent date
Third Annual IFIP WG 11.10 International Conference on Critical Infrastructure Protection

Hanover, New Hampshire, USA

March 23-25, 2009

Available on Infoscience
November 27, 2009
Use this identifier to reference this record
https://infoscience.epfl.ch/handle/20.500.14299/44523
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