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The Dynamics of Resource-Based Economic Development: Evidence from Australia and Norway

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Abstract

Australia and Norway have achieved modern levels of development as resource-based economies, thus avoiding the so-called resource curse. Their ability to achieve this rested heavily upon diversification into new resource products and industries. These processes relied heavily on innovation, confirming the close ties that have existed between resource-based industries and knowledge-producing and disseminating sectors of society. We develop a resource-based diversification model that analyses the interaction between ‘enabling’ sectors and resource industries and apply it to the historical experience of the two countries.

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File URL: http://www.uow.edu.au/content/groups/public/@web/@commerce/@econ/documents/doc/uow121538.pdf
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Bibliographic Info

Paper provided by School of Economics, University of Wollongong, NSW, Australia in its series Economics Working Papers with number wp12-04.

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Length: 56 pages
Date of creation: 2012
Date of revision:
Handle: RePEc:uow:depec1:wp12-04

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Postal: School of Economics, University of Wollongong, Northfields Avenue, Wollongong NSW 2522 Australia
Phone: +612 4221-3659
Fax: +612 4221-3725
Web page: http://business.uow.edu.au/econ/index.html
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Keywords: resource curse; enabling sectors; knowledge economy; social technologies;

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  1. Halvor Mehlum & Karl Moene & Ragnar Torvik, 2004. "Institutions and the Resource Curse," DEGIT Conference Papers c009_012, DEGIT, Dynamics, Economic Growth, and International Trade.
  2. David Greasley & Jakob B. Madsen, 2010. "Curse and Boon: Natural Resources and Long-Run Growth in Currently Rich Economies," The Economic Record, The Economic Society of Australia, vol. 86(274), pages 311-328, 09.
  3. Sachs, J-D & Warner, A-M, 1995. "Natural Resource Abundance and Economic Growth," Papers 517a, Harvard - Institute for International Development.
  4. Greasley, David & Oxley, Les, 2010. "Knowledge, natural resource abundance and economic development: Lessons from New Zealand 1861-1939," Explorations in Economic History, Elsevier, vol. 47(4), pages 443-459, October.
  5. Ian W. McLean, 2005. "Why Was Australia So Rich?," School of Economics Working Papers 2005-11, University of Adelaide, School of Economics.
  6. repec:fth:stanho:e-92-3 is not listed on IDEAS
  7. Ville,Simon, 2010. "The Rural Entrepreneurs," Cambridge Books, Cambridge University Press, number 9780521125949.
  8. David Merrett & Stephen Morgan & Simon Ville, 2008. "Industry associations as facilitators of social capital: The establishment and early operations of the Melbourne Woolbrokers Association," Business History, Taylor & Francis Journals, vol. 50(6), pages 781-794.
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