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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.

Suggested Citation

  • Thorvaldur Gylfason, 2007. "The International Economics of Natural Resources and Growth," CESifo Working Paper Series 1994, CESifo Group Munich.
  • Handle: RePEc:ces:ceswps:_1994
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    File URL: http://www.cesifo-group.de/DocDL/cesifo1_wp1994.pdf
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    1. repec:gam:jsusta:v:10:y:2018:i:4:p:965-:d:138129 is not listed on IDEAS
    2. Knobel, Alexander, 2013. "The risks of fiscal policy in countries rich in natural resources," Economic Policy, Russian Presidential Academy of National Economy and Public Administration, pages 29-38, October.
    3. Jan Rieländer & Bakary Traoré, 2016. "Explaining Diversification in Exports Across Higher Manufacturing Content — What is the Role of Commodities?," Journal of International Commerce, Economics and Policy (JICEP), World Scientific Publishing Co. Pte. Ltd., vol. 7(02), pages 1-36, June.

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