The Caspian Basin has been a booming region since the late 1990s due to newoil discoveries, new pipelines that diversify the countries’ transport options, andworld oil prices that rose from below $10 in 1998 to $70 in 2006. This book analyses the experience of the Caspian countries during the oil boom. It is foundedon empirical studies, using either macroeconomic tools or an analysis of public budgets, or microeconometric analysis of household survey data or ﬁeldwork in oil-producing regions. Moving from aggregated to disaggregated analysisand, in keeping with its emphasis on rigorous empirical analysis to the greatestextent possible, several chapters are written by specialists on the Caspian region.Whilst there is an emphasis on the economic consequences of the oil boom, theinterdisciplinary aspects of the phenomenon are also recognized. Overall, theanalysis is ﬁrmly rooted in the region, yet the empirical studies also provide a basis for drawing broader lessons about the effects of an oil boom.
is Associate Professor at the University of Paris XII, France andresearcher at CES-ROSES, a joint research unit of University of Paris I and theFrench National Centre for Scientiﬁc Research, CNRS. He is an expert on labour and social policies in transition economies.
has been Professor of Economics at the University of Adelaidesince 1992. In 2006–7 he was the AGIP Professor of International Economics atthe Johns Hopkins University Bologna Center. He is the author of
The Central Asian Economies since Independence
(2006). His research interests have centredon economic development and international economics.
received his PhD in economics from the University of Paris I(Sorbonne). Currently, he works as a Young Professional and Economist at theWorld Bank in Washington DC. Prior to this, he was a consultant for the FrenchInstitute of International Relations (IFRI), Paris.
THE ECONOMICS AND POLITICSOF OIL IN THE CASPIAN BASIN