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Mineral Rents and Social Development in Norway

Author

Listed:
  • Mehlum, Halvor

    (Dept. of Economics, University of Oslo)

  • Moene, Karl

    (Dept. of Economics, University of Oslo)

  • Torvik, Ragnar

    (Department of Economics, Norwegian University of Science and Technology)

Abstract

Norway is often referred to as the prime example of a country that has achieved high growth and low income inequality despite its vast natural resources. This contrasts sharply with many other resource abundant countries, which raises the questions why Norway has succeeded while many other resource abundant countries have not. That is the topic of this paper. To make progress we first need to find out along which dimensions Norway differs from resource abundant countries with a less favorable development. Thereafter we turn to a more detailed description and investigation of the policies adopted in Norway, and discuss if there are lessons to be learned for other resource abundant countries.

Suggested Citation

  • Mehlum, Halvor & Moene, Karl & Torvik, Ragnar, 2011. "Mineral Rents and Social Development in Norway," Memorandum 14/2011, Oslo University, Department of Economics.
    • Handle: RePEc:hhs:osloec:2011_014
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    File URL: https://www.sv.uio.no/econ/english/research/unpublished-works/working-papers/pdf-files/2011/Memo-14-2011.pdf
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    References listed on IDEAS

    as
    1. Torsten Persson & Guido Tabellini, 2004. "Constitutions and Economic Policy," Journal of Economic Perspectives, American Economic Association, vol. 18(1), pages 75-98, Winter.
    2. Halvor Mehlum & Karl Moene & Ragnar Torvik, 2006. "Institutions and the Resource Curse," Economic Journal, Royal Economic Society, vol. 116(508), pages 1-20, January.
    3. Matsen, Egil & Torvik, Ragnar, 2005. "Optimal Dutch disease," Journal of Development Economics, Elsevier, vol. 78(2), pages 494-515, December.
    4. Daron Acemoglu & Simon Johnson & James A. Robinson, 2002. "Reversal of Fortune: Geography and Institutions in the Making of the Modern World Income Distribution," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 117(4), pages 1231-1294.
    5. Andersen, Jørgen Juel & Aslaksen, Silje, 2008. "Constitutions and the resource curse," Journal of Development Economics, Elsevier, vol. 87(2), pages 227-246, October.
    6. Bulte Erwin & Damania Richard, 2008. "Resources for Sale: Corruption, Democracy and the Natural Resource Curse," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 8(1), pages 1-30, February.
    7. Gian Maria Milesi-Ferretti & Roberto Perotti & Massimo Rostagno, 2002. "Electoral Systems and Public Spending," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 117(2), pages 609-657.
    8. Anne D. Boschini & Jan Pettersson & Jesper Roine, 2007. "Resource Curse or Not: A Question of Appropriability," Scandinavian Journal of Economics, Wiley Blackwell, vol. 109(3), pages 593-617, September.
    9. Daron Acemoglu & Simon Johnson & James A. Robinson, 2001. "The Colonial Origins of Comparative Development: An Empirical Investigation," American Economic Review, American Economic Association, vol. 91(5), pages 1369-1401, December.
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    Cited by:

    1. Elwasila Saeed Elamin Mohamed, 2020. "Resource Rents, Human Development and Economic Growth in Sudan," Economies, MDPI, vol. 8(4), pages 1-21, November.

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    More about this item

    Keywords

    Sovereign wealth fund; Norway; multi-sector growth; labor supply;
    All these keywords.

    JEL classification:

    • E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General
    • E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination
    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
    • Q32 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Exhaustible Resources and Economic Development
    • Q38 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Government Policy (includes OPEC Policy)

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