Pierre-Noël Giraud

The equilibrium price range of oil : Economics, politics and uncertainty in the formation of oil prices

Abstract This paper attempts to clarify the articulation between economic and political factors in the formation of petroleum prices. It begins with defining the political factors. Then it gives a definition of the ‘dynamic equilibrium price’ of a mineral commodity market. The essential point is that when actors control significant low cost reserves and will not or cannot adopt behaviour of a ‘substantial economic rationality’ then the economic analysis does not allow a unique dynamic equilibrium price to be determined. However, it does permit definition of an equilibrium price range within which political preferences may be expressed. Finally, the paper draws some conclusions on what could be discussed within the scope of a new oil producer-consumer dialogue.

Le financement des services essentiels dans les villes pauvres

[fre] Cet article illustre, tout d’abord, les problemes poses par le financement des services essentiels en decrivant la situation a Delhi. A partir des exemples de l’Inde et du Maroc, ils soulignent l’importance des questions juridiques et politiques : il est necessaire de reconnaitre l’existence des quartiers et de l’habitat illegaux, de les regulariser. Puis, les auteurs font un rapide bilan des Partenariats publics-prives qui gardent un potentiel certain d’amelioration de l’efficacite de la fourniture des services, si l’on sait les adapter. Les auteurs donnent egalement des exemples de politiques specifiques concernant les quartiers pauvres, en particulier celles qui recherchent un abaissement des couts par des techniques innovantes, puis abordent les strategies d’autonomisation des riches en se demandant si le mouvement ne peut etre intelligemment accompagne. Enfin, ils abordent brievement la fiscalite locale. . Classification JEL : H4, I38, R58 [eng] How to finance essential services in poor cities ? . This article illustrates problems raised by the financing of essential services by describing the situation in Delhi. With examples of India and Morocco, it underlines the importance of juridical and political questions : it is necessary to acknowledge the existence of the illegal districts and housing and to regularize them. Then, the authors present a brief assessment of public-private partnerships which can improve the effectiveness of the provided services. But PPP have to be adapted to the situation. The authors also give examples of specific policies concerning poor districts, particularly those that search a decrease in expenses with innovative techniques. Then they analyse how richer can reach their autonomy and how this movement can be accompanied. Finally, they describe local taxation. . JEL classification : H4, I38, R58