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The dynamics of resource-based economic development: evidence from Australia and Norway

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  • Simon Ville
  • Olav Wicken

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 on repeated diversification into new resource products and industries. These processes relied largely 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. Copyright 2013 The Author 2012. Published by Oxford University Press on behalf of Associazione ICC. All rights reserved., Oxford University Press.

Suggested Citation

  • Simon Ville & Olav Wicken, 2013. "The dynamics of resource-based economic development: evidence from Australia and Norway," Industrial and Corporate Change, Oxford University Press, vol. 22(5), pages 1341-1371, October.
  • Handle: RePEc:oup:indcch:v:22:y:2013:i:5:p:1341-1371
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    File URL: http://hdl.handle.net/10.1093/icc/dts040
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    1. Prebisch, Raúl, 1950. "The economic development of Latin America and its principal problems," Sede de la CEPAL en Santiago (Estudios e Investigaciones) 29973, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    2. 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.
    3. Halvor Mehlum & Karl Moene & Ragnar Torvik, 2006. "Institutions and the Resource Curse," Economic Journal, Royal Economic Society, vol. 116(508), pages 1-20, January.
    4. Sachs, J-D & Warner, A-M, 1995. "Natural Resource Abundance and Economic Growth," Papers 517a, Harvard - Institute for International Development.
    5. Ville,Simon, 2010. "The Rural Entrepreneurs," Cambridge Books, Cambridge University Press, number 9780521125949, May.
    6. repec:hoo:wpaper:e-92-3 is not listed on IDEAS
    7. McLean, Ian W., 2007. "Why was Australia so rich?," Explorations in Economic History, Elsevier, vol. 44(4), pages 635-656, October.
    8. 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.
    9. 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, September.
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    Cited by:

    1. Iizuka, Michiko & Vargas, Fernando & Baumann, Jakob, 2017. "Financial mechanism to invest in knowledge from natural resource revenues: Experiences from Bolivia, Chile, Colombia and Peru," MERIT Working Papers 042, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).
    2. repec:eee:jrpoli:v:54:y:2017:i:c:p:167-175 is not listed on IDEAS
    3. repec:eee:worbus:v:53:y:2018:i:1:p:85-91 is not listed on IDEAS
    4. Simon Ville, 2015. "Divergence and Convergence: New and Shifting Paradigms in Comparative Economic History," Australian Economic History Review, Economic History Society of Australia and New Zealand, vol. 55(1), pages 80-94, March.
    5. Anabel Marin & Lizbeth Navas-Alemán & Carlota Perez, 2015. "Natural Resource Industries As a Platform for the Development of Knowledge Intensive Industries," Tijdschrift voor Economische en Sociale Geografie, Royal Dutch Geographical Society KNAG, vol. 106(2), pages 154-168, April.
    6. Isabel Álvarez González & Romilio Labra, 2013. "Identifying the role of natural resources in knowledge-based strategies of development," Working Papers del Instituto Complutense de Estudios Internacionales 1305, Universidad Complutense de Madrid, Instituto Complutense de Estudios Internacionales.
    7. Kristin Ranestad, 2016. "The mining sectors in Chile and Norway, ca. 1870 - 1940: the development of a knowledge gap," Working Papers 0105, European Historical Economics Society (EHES).
    8. Lisa Scordato & Markus M. Bugge & Arne Martin Fevolden, 2017. "Directionality across Diversity: Governing Contending Policy Rationales in the Transition towards the Bioeconomy," Sustainability, MDPI, Open Access Journal, vol. 9(2), pages 1-14, February.
    9. repec:bla:ozechr:v:57:y:2017:i:3:p:264-290 is not listed on IDEAS
    10. Marc Badia-Miró & Cristián A. Ducoing, 2014. "The long run development of Chile and the Natural Resources curse. Linkages, policy and growth, 1850-1950," UB Economics Working Papers 2014/318, Universitat de Barcelona, Facultat d'Economia i Empresa, UB Economics.
    11. David Greasley & Jakob B. Madsen, 2017. "The Rise and Fall of Exceptional Australian Incomes Since 1800," Australian Economic History Review, Economic History Society of Australia and New Zealand, vol. 57(3), pages 264-290, November.

    More about this item

    JEL classification:

    • N50 - Economic History - - Agriculture, Natural Resources, Environment and Extractive Industries - - - General, International, or Comparative
    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
    • O57 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries
    • Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development

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