Transit privatization

Transit privatization is the process of shifting the provider of public transportation from governments to privately held companies. It became common during the 1980s and 1990s as a result of rising costs and bureaucracy, and declines in service quality.^[1] Privatization efforts have had mixed results, typically achieving the goal of reducing public debt and expenditure, however often resulting in reduced service and financial issues.^[2]

A Japanese Shinkansen train. Japan's rail system was privatized in 1989