Economics of the Caspian Oil and Gas Wealth

1. Front Matter

   Pages i-xv

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2. Introduction

   1. Introduction

      • Yelena Kalyuzhnova

      Pages 1-4

3. The Economics of Caspian Hydrocarbon Development

   1. Front Matter

      Pages 5-5

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   2. Economic Development and Resource Dependence

      • Yelena Kalyuzhnova

      Pages 7-43

   3. The Management of Hydrocarbon Wealth: National Oil Funds

      • Yelena Kalyuzhnova

      Pages 44-65

4. The Impact of the Operating Companies

   1. Front Matter

      Pages 67-67

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   2. Major Oil and Gas Projects

      • Yelena Kalyuzhnova

      Pages 69-91

   3. Companies and Governments

      • Yelena Kalyuzhnova

      Pages 92-135

   4. Developing Local Content

      • Yelena Kalyuzhnova

      Pages 136-168

5. Models and Policies for the Future

   1. Front Matter

      Pages 169-169

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   2. Production, Revenues and Transparency

      • Yelena Kalyuzhnova

      Pages 171-193

   3. Policies for Sustainable Development

      • Yelena Kalyuzhnova

      Pages 194-219

   4. Conclusion

      • Yelena Kalyuzhnova

      Pages 220-231

6. Back Matter

   Pages 232-257

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This book explores the economic challenges involved in managing hydrocarbon wealth in the Caspian region, and looks at how to design an optimal energy policy. The book draws on the Author's experience in dealing with the governments of the region, and her knowledge of the role of major companies in the area.

• development
• Economic Development
• energy
• energy policy
• Oil and Gas
• sustainable development

'An invaluable way to advance our understanding of the Caspian oil and gas industry is by studying the objectives, strategies and policies of the main actors in its development - those of both companies and governments. Yelena Kalyuzhnova's book provides just such an examination, framed in the growing economic literature on management of natural resource wealth. The book is a timely resource for policy makers, investors and researchers with an interest in this important and expanding region and industry.' - Steven Fries, Chief Economist, Royal Dutch Shell, and Visiting Professor, Department of Economics, University of Oxford, UK

'At last we have a book which places the role of government and policy where it belongs: at the centre of the oil and gas development story. This is an impressively researched study; a sober and well-informed appraisal which does not attempt to over-hype the oil and gas potential of the Caspian region.' - Professor Jonathan Stern, Director of Gas Research, Oxford Institute for Energy Studies, UK

• Reading, UK

  Yelena Kalyuzhnova

YELENA KALYUZHNOVA is the Director of the Centre for Euro-Asian Studies and a Senior Lecturer in the Economics Department at the University of Reading, UK. Her academic background includes research on transitional economies and macroeconomic issues. Dr Kalyuzhnova is the author of the first major study of the Kazakhstani economy (1998). She has contributed to a wide variety of economic studies for international organisations.

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