Escaping the Resource Curse and the Dutch Disease? When and Why
Norway Caught up with and Forged Ahead of Its Neighbors

J 2006

Escaping the Resource Curse and the Dutch Disease? When and Why Norway Caught up with and Forged Ahead of Its Neighbors

LARSEN RØED, Erling

Základní údaje

Originální název

Escaping the Resource Curse and the Dutch Disease? When and Why Norway Caught up with and Forged Ahead of Its Neighbors

Autoři

LARSEN RØED, Erling

Vydání

The American Journal of Economics and Sociology, United States, Wiley-Blackwell, 2006, 0002-9246

Další údaje

Typ výsledku

Článek v odborném periodiku

Utajení

není předmětem státního či obchodního tajemství

Odkazy

URL

Impakt faktor

Impact factor: 0.205

Označené pro přenos do RIV

Klíčová slova česky

holadská nemoc; norsko

Klíčová slova anglicky

dutch disease; norway

Změněno: 16. 6. 2021 09:15, Ing. Ondřej Třešňák

Anotace

V originále

In the 1960s, Norway lagged behind its Scandinavian neighbors in the aggregate value of economic production per capita, as it had for decades. By the 1990s, Norway had caught up with and forged ahead of Denmark and Sweden. When and why did Norway catch up? The discovery and extraction of oil in the early 1970s is usually suggested as the explanation. But oil alone cannot explain Norway's growth, since Sachs and Warner (2001) show that resource gifts often reverse growth, making oil a curse, not a blessing. Moreover, there is the possibility of contracting the Dutch Disease, which involves a rapid and substantial contraction of the traded goods sector. This article explains how deliberate macroeconomic policy, the arrangement of political and economic institutions, a strong judicial system, and social norms contributed to let Norway escape the Resource Curse and the Dutch Disease for more than two decades. Intriguingly, it appears that Norway in the late 1990s may show some symptoms: Norway has experienced reversed relative growth compared to Denmark and Sweden and a contraction of industrial activity. This article explores the political economy behind this recent slowdown.

Citovat

LARSEN RØED, Erling. Escaping the Resource Curse and the Dutch Disease? When and Why Norway Caught up with and Forged Ahead of Its Neighbors. The American Journal of Economics and Sociology. United States: Wiley-Blackwell, 2006, roč. 2006, č. 3, s. 605-604, 36 s. ISSN 0002-9246.

@article{1776408,
   author = {Larsen Røed, Erling},
   article_location = {United States},
   article_number = {3},
   keywords = {dutch disease; norway},
   issn = {0002-9246},
   journal = {The American Journal of Economics and Sociology},
   title = {Escaping the Resource Curse and the Dutch Disease? When and Why Norway Caught up with and Forged Ahead of Its Neighbors},
   url = {https://www.jstor.org/stable/27739583},
   volume = {2006},
   year = {2006}
}

TY  - JOUR
ID  - 1776408
AU  - Larsen Røed, Erling
PY  - 2006
TI  - Escaping the Resource Curse and the Dutch Disease? When and Why Norway Caught up with and Forged Ahead of Its Neighbors
JF  - The American Journal of Economics and Sociology
VL  - 2006
IS  - 3
SP  - 605-604
EP  - 605-604
PB  - Wiley-Blackwell
SN  - 00029246
KW  - dutch disease
KW  - norway
UR  - https://www.jstor.org/stable/27739583
N2  - In the 1960s, Norway lagged behind its Scandinavian neighbors in the aggregate value of economic production per capita, as it had for decades. By the 1990s, Norway had caught up with and forged ahead of Denmark and Sweden. When and why did Norway catch up? The discovery and extraction of oil in the early 1970s is usually suggested as the explanation. But oil alone cannot explain Norway's growth, since Sachs and Warner (2001) show that resource gifts often reverse growth, making oil a curse, not a blessing. Moreover, there is the possibility of contracting the Dutch Disease, which involves a rapid and substantial contraction of the traded goods sector. This article explains how deliberate macroeconomic policy, the arrangement of political and economic institutions, a strong judicial system, and social norms contributed to let Norway escape the Resource Curse and the Dutch Disease for more than two decades. Intriguingly, it appears that Norway in the late 1990s may show some symptoms: Norway has experienced reversed relative growth compared to Denmark and Sweden and a contraction of industrial activity. This article explores the political economy behind this recent slowdown.
ER  -

LARSEN RØED, Erling. Escaping the Resource Curse and the Dutch Disease? When and Why Norway Caught up with and Forged Ahead of Its Neighbors. \textit{The American Journal of Economics and Sociology}. United States: Wiley-Blackwell, 2006, roč.~2006, č.~3, s.~605-604, 36 s. ISSN~0002-9246.

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