This paper documents some thoughts on the reform agenda in public transit that is occurring throughout the world. The specific focus is on a growing commitment to competitive regulation through competitive tendering, and the efforts by a few governments (notably in Australia) to take control of the tangible assets used by private operators as a mechanism to exercise the opportunity, if so taken, to put services out to competitive tender. The paper reviews the theoretical arguments and empirical evidence on contracting regimes and asset ownership, and the role that government and the operator might play in a setting in which building trusting and collaborative partnerships has merit in delivering services that are in the main funded from the public purse.

The aim of this introductory paper is provide the background to the Fifth International Conference on Competition and Ownership in Land Passenger Transport, which was held in Leeds, UK, in May 1997 and was attended by around 120 delegates from 20 countries. This is done by reviewing past conferences in the series and summarizing the structure of the Leeds conference and the key emerging themes. Further details are given by the five workshop reports that accompany this introduction.