Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/238465 
Authors: 
Year of Publication: 
2020
Series/Report no.: 
ADBI Working Paper Series No. 1108
Publisher: 
Asian Development Bank Institute (ADBI), Tokyo
Abstract: 
The aim of this paper is to analyze the barriers to economic integration of Caspian Sea countries - specifically the Russian Federation, Kazakhstan, Azerbaijan, Turkmenistan, Uzbekistan, Iran, and Georgia - and suggest solutions. A literature review is used as a methodology for conducting this research, synthesizing research findings to determine the current level of integration in the Caspian Basin, barriers to it, and to uncover solutions that can deepen it. It was concluded from this research that Caspian states have a long experience of economic integration. However, it was found that the obstacles that prevent economic integration among Caspian states can be summarized under three main headings. First of all, the geographic location of Caspian states is so critical that it is impossible to define clear borders in the region. Second, the different governance structures of Caspian states make it difficult to evaluate the co-benefits of economic integration. Third, the geopolitical interests of foreign actors are a serious handicap for the region's economic integration. On the other hand, ongoing geopolitical and economic processes are increasing Caspian states' need for each other. In this context, existing bilateral and trilateral agreements can be classified by the number of sides and subjects so that a multi-speed integration can be achieved among the region's countries and they can choose the level of integration according to their own interests.
Subjects: 
Caspian Sea
economic integration
energy cooperation
geopolitical interests
JEL: 
F02
F15
F50
Creative Commons License: 
cc-by-nc-nd Logo
Document Type: 
Working Paper

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