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The International Economics of Natural Resources and Growth

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  • Thorvaldur Gylfason

Abstract

This article is in three parts. First, it briefly describes the contribution of natural resources to economic growth around the world, pondering the question whether an abundance of natural resources is a blessing or a curse. Second, an attempt is made to provide a glimpse of recent empirical evidence that can be brought to bear on this question. Third, the article discusses the experience of Norway, the world’s third largest oil exporter. To date, Norway has appeared to be mostly free of the worrisome symptoms, such as the Dutch disease, that have afflicted many other countries with abundant natural resources.

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File URL: http://www.cesifo-group.de/portal/page/portal/DocBase_Content/WP/WP-CESifo_Working_Papers/wp-cesifo-2007/wp-cesifo-2007-05/cesifo1_wp1994.pdf
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Bibliographic Info

Paper provided by CESifo Group Munich in its series CESifo Working Paper Series with number 1994.

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Date of creation: 2007
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Handle: RePEc:ces:ceswps:_1994

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Cited by:
  1. Amegashie, J. Atsu & Ouattara, Bazoumanna & Strobl, Eric, 2007. "Moral Hazard and the Composition of Transfers: Theory with an Application to Foreign Aid," MPRA Paper 3158, University Library of Munich, Germany, revised 06 May 2007.
  2. Alexander Knobel, 2014. "The Risks of Fiscal Policy in Countries Rich in Natural Resource," Working Papers, Gaidar Institute for Economic Policy 0094, Gaidar Institute for Economic Policy, revised 2014.
  3. Al Rawashdeh, Rami & Maxwell, Philip, 2013. "Jordan, minerals extraction and the resource curse," Resources Policy, Elsevier, Elsevier, vol. 38(2), pages 103-112.
  4. Gylfason, Thorvaldur, 2008. "Development and Growth in Mineral-Rich Countries," CEPR Discussion Papers, C.E.P.R. Discussion Papers 7031, C.E.P.R. Discussion Papers.
  5. Henry Willebald, 2013. "Distributive patterns in settler economies: agrarian income inequality during the first globalization (1870-1913)," Documentos de Trabajo (working papers), Instituto de Economía - IECON 13-05, Instituto de Economía - IECON.

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