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Natural Resources and Economic Growth: A Nordic Perspective on the Dutch Disease

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  • Gylfason, Thorvaldur

Abstract

The paper begins by offering a quick glance of the Nordic economies and of some aspects of their economic growth performance and natural resource dependence since 1970. Thereafter, it reviews some of the main symptoms of the Dutch disease, and then considers whether these symptoms are observable in some of the Nordic countries in view of their abundant natural resources. The experience of Iceland and its fish seems an obvious point of departure. The paper then discusses the less obvious case of Norway and its oil (and fish!) and, at last, also reviews some possible linkages between forest resources and economic growth in Finland.

Suggested Citation

  • Gylfason, Thorvaldur, 1999. "Natural Resources and Economic Growth: A Nordic Perspective on the Dutch Disease," WIDER Working Papers 295493, United Nations University, World Institute for Development Economic Research (UNU-WIDER).
    • Handle: RePEc:ags:widerw:295493
    DOI: 10.22004/ag.econ.295493
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    Cited by:

    1. Muhammad Zeeshan & Jiabin Han & Alam Rehman & Hazrat Bilal & Naveed Farooq & Muhammad Waseem & Arif Hussain & Muhammad Khan & Ilyas Ahmad, 2021. "Nexus between Foreign Direct Investment, Energy Consumption, Natural Resource, and Economic Growth in Latin American Countries," International Journal of Energy Economics and Policy, Econjournals, vol. 11(1), pages 407-416.
    2. Eregha, P.B. & Mesagan, Ekundayo Peter, 2016. "Oil resource abundance, institutions and growth: Evidence from oil producing African countries," Journal of Policy Modeling, Elsevier, vol. 38(3), pages 603-619.
    3. Wizarat, Shahida, 2013. "Are resource abundant countries afflicted by the resource curse?," International Journal of Development and Conflict, Gokhale Institute of Politics and Economics, vol. 3(2), pages 24-39.
    4. Néstor Le Clech & Juan Carlos Guevara-Pérez & R. Urdaneta-Camacho, 2023. "Human Capital and Non-Renewable Natural Resources in Latin America and the Caribbean: ‘Is It a Curse or a Blessing’?," Sustainability, MDPI, vol. 15(15), pages 1-20, August.
    5. Gylfasonabc, Thorvaldur, 2000. "Fix or flex? Alternative exchange rate regimes in an era of global capital mobility," The North American Journal of Economics and Finance, Elsevier, vol. 11(2), pages 173-189, December.
    6. Prof. Dr Shahida Wizarat, 2014. "Natural Resources, Conflict and Growth: Uncovering the Transmission Mechanism," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 4(8), pages 987-1000, August.
    7. Dunning, Thad & Shelton, Cameron A., 2008. "Comments," LSE Research Online Documents on Economics 123112, London School of Economics and Political Science, LSE Library.
    8. Liu, Li & Yu, Deng, 2023. "Does volatility in natural resources commodity prices and economic performance matter for RCEP economies?," Resources Policy, Elsevier, vol. 80(C).
    9. Muhammad Atif Khan & Muhammad Asif Khan & Kishwar Ali & József Popp & Judit Oláh, 2020. "Natural Resource Rent and Finance: The Moderation Role of Institutions," Sustainability, MDPI, vol. 12(9), pages 1-23, May.

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    Keywords

    International Development;

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