Graduate School of Business Administration, KOBE UNIVERSITY

Fumitoshi Mizutani

Ph.D.(Harvard University)


Professor of Public Utility Economics and Management

Specialized Fields

Public Utility Economics and Management, Regulatory Economics, Transport Economics, Urban Economics.

Fields of Interest

Applied Economics on Regulation and Privatization Issues in the Public Utilities and Transport Industries, Firms’ Organization and Governance Issues.

Current Research

  • Regulatory Reform of Public Utilities: The Japanese Experience, Edward Elgar, 2012.
  • Japanese Urban Railways: A Private-Public Comparison, Avebury, 1994.
  • [Journal Articles]
    (Regulatory Economics)
  • "Comparing the Costs of Vertical Separation, Integration, and Intermediate Organisational Structures in European and East Asian Railways," Journal of Transport Economics and Policy, Vol.49, No.3, pp.496-515, 2015 (coauthored with Andrew Smith, Chris Nash, and Shuji Uranishi).
  • “Does Vertical Separation Reduce Cost? An Empirical Analysis of the Rail Industry in European and East Asian OECD Countries,” Journal of Regulatory Economics, Vol.43, No.1, pp.31-59, 2013 (coauthored with S. Uranishi).
  • "Does Yardstick Regulation Really Work? Empirical Evidence from Japan’s Rail Industry," Journal of Regulatory Economics, Vol.36, No.3, pp.308-323, 2009 (coauthored with H. Kozumi and N. Matsushima).
  • "Regulation and Deregulation in the Japanese Rail Industry," CESifo DICE Report: Journal for Institutional Comparisons, Vol.3, No.4, pp.10-15, 2005.
  • “Rail Operation-infrastructure Separation: The Case of Kobe Rapid Transit Railway,” Transport Policy, Vol.11, No.3, pp.251-263, 2004 (coauthored with K. Shoji).
  • “Empirical Analysis of Yardstick Competition in the Japanese Railway Industry,” International Journal of Transport Economics, Vol.24, No.3, pp.367-392, 1997.
  • (Transport Economics/Urban Economics)
  • “Estimation of Optimal Metropolitan Size in Japan with Consideration of Social Costs,” Empirical Economics, Vol.48, No.4, pp.1713-1730, 2015 (coauthored with T. Tanaka, N. Nakayama) .
  • “Structural Reforms in the Railways: Incentive Misalignment and Cost Implications,” Research in Transportation Economics, Vol.48, pp.16-22, 2014 (coauthored with C. Nash, A. Smith, D. van de Velde, S. Uranishi ).
  • “Estimation of Social Costs of Transportation in Japan,” Urban Studies, Vol.48, No.16, pp.3537-3559, 2011 (coauthored with Y. Suzuki, H. Sakai).
  • "Industrial Diversity and Metropolitan Unemployment Rate," Annals of Regional Science, Vol.40, No.1, pp.157-172, 2006 (co-authored with K. Mizuno and N. Nakayama).
  • "Privately Owned Railways' Cost Function, Organization Size and Ownership," Journal of Regulatory Economics, Vol.25, No.3, pp.297-322, 2004.
  • “A Private-Public Comparison of Bus Service Operators,” International Journal of Transport Economics, Vol.30, No.2, pp.167-185, 2003, (coauthored with T. Urakami).
  • “A Comparative Analysis of Financial Performance: U.S. and Japanese Urban Railways,” International Journal of Transport Economics, Vol.24, No.2, pp.207-239, 1997 (coauthored with K. Shoji).
  •  (Privatization)
  • "Determinants of Privatization of Public Corporations: Evidence from the Japanese Experience," Empirical Economics, Vol.39, No.2, pp.515-535, 2010 (coauthored with S. Uranishi).
  • “Privatization of the Japan Highway Public Corporation: Focusing on Organizational Structure Change,” Transport Reviews, Vol.28, No.4 pp.469-493, 2008 (coauthored with S. Uranishi).
  • "The Effects of Privatization on Productivity and Capital Adjustment," International Journal of Transport Economics, Vol.34, No.2, pp.197-224, 2007 (coauthored with S. Uranishi).
  • "An Assessment of the JR Companies Since Privatization: Performance, Local Rail Service and Debts", Transport Reviews, Vol.19, No.2, 1999, pp.117-139.
  • “Privatization of the Japan National Railways: Overview of Performance Change,” International Journal of Transport Economics, Vol.24, No.1, pp.75-99, 1997 (coauthored with Kiyoshi Nakamura )
  • “The Effects of Railways Privatization on Competitive Performance: The Case Study of Japanese Railways,” Journal of the Eastern Asia Society for Transportation Studies, Vol.1, No.1, pp.85-102, 1995 (coauthored with Kiyoshi Nakamura ).
  • (Public Utilities and Public Sector)
  • "Productivity Effects and Determinants of Public Infrastructure Investment," Annals of Regional Science, Vol.44, No.3, pp.493-521, 2010 (coauthored with T. Tanaka)
  • "The Post Office vs. Parcel Delivery Companies: Competition Effects on Costs and Productivity", Journal of Regulatory Economics, Vol.23, No.3, pp.299-319, 2003 (coauthored with S. Uranishi).
  • "Identifying Network Density and Scale Economies for Japanese Water Supply Organizations," Papers in Regional Science, Vol.80, No.2, pp.211-230, 2001(coauthored with T. Urakami).
  • “Effects of Japan National Railways Privatization on Labor Productivity,” Papers in Regional Science, Vol.75, No.2, pp.177-199, 1996 (coauthored with Kiyoshi Nakamura )
  • (Business Economics)
  • "How Does Market Size Affect Vertical Structure When Considering Vertical Coordination? Application to the Railway Industry, "Pacific Economic Review, Vo.19, No.5, 657-676, 2014, (co-authored with Noriaki Matsushima).
  • “Managerial Incentive, Organizational Slack, and Performance: Empirical Analysis of Japanese Firms’ Behavior,” Journal of Management and Governance, Vo.18, No.1, 2014, 245-284, (co-authored with E. Nakamura).