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Avoiding the resource curse the case Norway

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  • Holden, Steinar

Abstract

In many countries, natural resources have been detrimental to the economic development. The literature on “the resource curse” shows a bleak relationship: countries with large natural resources generally experience lower economic growth than other countries. Norway does not fit into this picture. Economic growth has much higher than in most other industrialized countries. This paper describes the key features of the Norwegian management of the petroleum resources. The main focus is on the management of the revenues from the petroleum sector, but the effects of the petroleum sector on the Norwegian economy more generally are also discussed.

Suggested Citation

  • Holden, Steinar, 2013. "Avoiding the resource curse the case Norway," Energy Policy, Elsevier, vol. 63(C), pages 870-876.
  • Handle: RePEc:eee:enepol:v:63:y:2013:i:c:p:870-876
    DOI: 10.1016/j.enpol.2013.09.010
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    References listed on IDEAS

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    1. Halvor Mehlum & Karl Moene & Ragnar Torvik, 2006. "Institutions and the Resource Curse," Economic Journal, Royal Economic Society, vol. 116(508), pages 1-20, January.
    2. Sachs, J-D & Warner, A-M, 1995. "Natural Resource Abundance and Economic Growth," Papers 517a, Harvard - Institute for International Development.
    3. Hilde C. Bjørnland & Leif Anders Thorsrud, 2013. "Boom or gloom? Examining the Dutch disease in a two-speed economy," Working Papers No 6/2013, Centre for Applied Macro- and Petroleum economics (CAMP), BI Norwegian Business School.
    4. Mideksa, Torben K., 2013. "The economic impact of natural resources," Journal of Environmental Economics and Management, Elsevier, vol. 65(2), pages 277-289.
    5. Corden, W Max & Neary, J Peter, 1982. "Booming Sector and De-Industrialisation in a Small Open Economy," Economic Journal, Royal Economic Society, vol. 92(368), pages 825-848, December.
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    Cited by:

    1. repec:eee:eneeco:v:70:y:2018:i:c:p:258-269 is not listed on IDEAS
    2. Svetlana Doroshenko & Andrey Shelomentsev & Natalja Sirotkina & Bulat Husainov, 2014. "Paradoxes Of The «Natural Resource Curse» Regional Development In The Post-Soviet Space," Economy of region, Centre for Economic Security, Institute of Economics of Ural Branch of Russian Academy of Sciences, vol. 1(4), pages 81-93.
    3. Sam Fankhauser & Frank Jotzo, 2017. "Economic growth and development with low-carbon energy," CCEP Working Papers 1705, Centre for Climate Economics & Policy, Crawford School of Public Policy, The Australian National University.
    4. Ramírez-Cendrero, Juan M. & Wirth, Eszter, 2016. "Is the Norwegian model exportable to combat Dutch disease?," Resources Policy, Elsevier, vol. 48(C), pages 85-96.
    5. repec:eee:ecanpo:v:55:y:2017:i:c:p:179-193 is not listed on IDEAS
    6. Iacono, Roberto, 2015. "The Basilicata Wealth Fund: resource policy and long-run economic development in Southern Italy," MPRA Paper 66393, University Library of Munich, Germany.
    7. repec:eee:jjieco:v:47:y:2018:i:c:p:32-54 is not listed on IDEAS
    8. Mohn, Klaus, 2016. "Resource revenue management and wealth neutrality in Norway," Energy Policy, Elsevier, vol. 96(C), pages 446-457.
    9. Iacono, Roberto, 2017. "A comparison of fiscal rules for resource-rich economies," Economic Analysis and Policy, Elsevier, vol. 55(C), pages 179-193.
    10. Araujo Rodrigues, Larissa & Luís Sauer, Ildo, 2015. "Exploratory assessment of the economic gains of a pre-salt oil field in Brazil," Energy Policy, Elsevier, vol. 87(C), pages 486-495.
    11. Aloise de Seabra, Alessandra & Khosrovyan, Alla & Del Valls, T. Angel & Polette, Marcus, 2015. "Management of pre-salt oil royalties: Wealth or poverty for Brazilian coastal zones as a result?," Resources Policy, Elsevier, vol. 45(C), pages 1-8.
    12. Shao, Shuai & Yang, Lili, 2014. "Natural resource dependence, human capital accumulation, and economic growth: A combined explanation for the resource curse and the resource blessing," Energy Policy, Elsevier, vol. 74(C), pages 632-642.
    13. Felix Kumah-Abiwu, 2017. "Democratic Institutions, Natural Resource Governance, and Ghana’s Oil Wealth," Social Sciences, MDPI, Open Access Journal, vol. 6(1), pages 1-13, February.
    14. Bernt Bratsberg & Oddbjørn Raaum & Ole Rogeberg, 2017. "Migrant labor in the Norwegian petroleum sector," Development Working Papers 420, Centro Studi Luca d'Agliano, University of Milano, revised 23 Feb 2017.

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    Keywords

    Resource curse; Oil; Fiscal policy;

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