A Nordic Perspective on Natural Resource Abundance

Thorvaldur. Gylfason

in Resource Abundance and Economic Development

Published in print October 2004 | ISBN: 9780199275786
Published online April 2005 | e-ISBN: 9780191602160 | DOI:

Series: WIDER Studies in Development Economics

A Nordic Perspective on Natural Resource Abundance

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This chapter examines the impact of resource abundance on the economic performance of Denmark, Finland, Iceland, Norway, and Sweden. Natural resource abundance can retard economic growth by reducing total exports, and investments in human and physical capital. These outcomes are not inevitable if appropriate institutions safeguards are in place. However, an echo effect of resource dependence may be detected.

Keywords: Denmark; Finland; Iceland; Norway; Sweden; economic reform; resource-abundant countries; natural resources

Chapter.  6919 words.  Illustrated.

Subjects: Economic Development and Growth

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