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The Dynamics of Resource-Based Economic Development: Evidence from Australia and Norway

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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 upon diversification into new resource products and industries. These processes relied heavily 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.

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  • Simon Ville & Olav Wicken, 2012. "The Dynamics of Resource-Based Economic Development: Evidence from Australia and Norway," Economics Working Papers wp12-04, School of Economics, University of Wollongong, NSW, Australia.
    • Handle: RePEc:uow:depec1:wp12-04
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    More about this item

    Keywords

    resource curse; enabling sectors; knowledge economy; social technologies;
    All these keywords.

    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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