The economic impact of natural resources

Mideksa, Torben K.

doi:10.1016/j.jeem.2012.07.005

Cited by 87 publications

(55 citation statements)

References 35 publications

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“…In other words, this paper provides a quantitative comparative case study that can highlight the robustness of the key features of the Nordic model when subjected to a substantial structural shock. In doing so, this paper complements previous studies with a similar focus, such as Mideksa (2013) and Larsen (2006), which analyze the impact of the resource windfall on the Norwegian GDP per capita. The supposed exceptionality of the Nordic model has been analyzed, questioned, and tested by scholars (among others, Lane et al, 1993) with regard to a variety of aspects, with egalitarianism of the wealth distribution getting the most attention.…”

Section: Introductionmentioning

confidence: 67%

“…Figure 1 plots the yearly production of oil equivalents on the Norwegian continental shelf, 1971-2016, as reported by the Norwegian Petroleum Directorate. Although extraction started as early as 1971, as plotted in Figure 1, the fact that the impact of extraction on income and GDP did not significantly appear until a few years later (as documented in Bjørnland, 1998;Larsen, 2006;and Mideksa, 2013), contributes as well to justify the choice of the treatment year. The intuition behind the empirical analysis of this paper is that becoming a main oil exporter significantly modifies the structure and performance of labor market institutions that determine top income shares (and income inequality), productivity and investments, as well as public welfare spending evidence on the Scandinavian model's relevance as an analytical framework.…”

Section: The Resource Windfallmentioning

confidence: 98%

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The Norwegian Oil Bonanza and the Scandinavian Model in Comparative Perspective

Iacono

2018

Comp Econ Stud

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This paper aims at highlighting the effects of large natural resource endowments on the institutions of the so-called Scandinavian or Nordic model, through a comparative quantitative case study. Focusing on two key features of the Scandinavian model, namely (I) low income inequality and (II) high welfare spending, this study presents evidence on the shocks to these features for Norway after the country became one of the world's largest oil exporters. A synthetic control unit constructed by weighting Nordic countries provides the most reliable comparison unit to estimate the comparative effects constituting the paper's twofold contribution. First, the resource windfall contributed to slightly higher top income shares. Second, resource revenues contributed to finance the steadily increasing gap between Norway and other Nordic countries in the degree of welfare generosity.JEL codes: E02, H53, I38, Q33.

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Section: Introductionmentioning

confidence: 67%

Section: The Resource Windfallmentioning

confidence: 98%

The Norwegian Oil Bonanza and the Scandinavian Model in Comparative Perspective

Iacono

2018

Comp Econ Stud

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“…To answer this counterfactual question, let us conduct a synthetic control method exercise (as in Abadie et al, 2015;Mideksa, 2013;Iacono, 2016) to construct a synthetic control unit for Norway based on the donor pool constituted from the other Nordic countries (regarded as similar economies that did not develop a huge resource sector). The first step is to select the weights of the synthetic control unit based on the pre-windfall matching of a set of macroeconomic predictors.…”

Section: The Impact From Resource Revenues: the Case Of Norwaymentioning

confidence: 99%

The Nordic Model of Economic Development: Shocks, Reforms and Future Prospects

Iacono¹

2017

SSRN Journal

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. Terms of use: Documents in EconStor may AbstractThe aim of this research is to provide novel evidence regarding the functioning of the Nordic model of economic development and the robustness of its institutions. At first, the paper defines a conceptual analytical framework identifying the key features of the model for the Nordic economies (Denmark, Finland, Norway, and Sweden), by synthesizing relevant background literature. Secondly, this framework is used to interpret a set of shocks, reforms and ongoing trends: the effect of resource revenues on the labor market and income inequality in Norway compared to the other Nordic countries; the design of a novel minimum income scheme in Finland and its effects on preferences for social insurance; and the implications of population ageing and increased automation for indicators of sustainability for the Nordic welfare states.

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“…Según Mideksa (2013), esta discusión se ha concentrado recientemente en el análisis del efecto que tiene para un país la dotación y explotación de recursos naturales mineros o energéticos, como el carbón o el petróleo. Entre los estudios realizados se encuentran algunos de carácter empírico que concluyen que la especialización en el aprovechamiento de recursos naturales favorece el crecimiento de los países (Weitzman, 1999;Brunnschweiler y Bulte, 2008), mientras otros llegan a resultados opuestos (Sachs y Warner, 1997;Hausman y Rigobon, 2002; Sala-I-Martin y Subramanian, 2003) reforzando la tesis de la maldición de los recursos (Auty, 1993;Murshed, 2004).…”

Section: Introductionunclassified

“…En general, de acuerdo con Mideksa (2013), los resultados son divergentes y esta diferencia puede estar asociada a diversos problemas metodológicos, uno de los cuales, dice, es el hecho de que la mayoría de estudios están basados en análisis de datos transversales. Además, cita como uno de los problemas fundamentales, la imposibilidad de conocer a ciencia cierta lo que hubiera ocurrido en una determinada economía en ausencia de recursos naturales, pues dicha circunstancia sólo puede estimarse mediante la comparación con economías que en efecto carezcan de ellos, de las cuales existen pocas, sobre todo cuando se considera la dotación conjunta de tales recursos.…”

Section: Introductionunclassified

La contribución del petróleo y el carbón a la economía regional de Colombia, 1990-2011

Téllez

Gómez-Calero

Gil-Delgado

2015

ETYP

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ResumenEl objetivo de este trabajo es determinar el impacto en la economía colombiana de la producción de petróleo y carbón durante el periodo 1990-2011 y valorar de qué modo la diferente especialización en su aprovechamiento explica los desniveles del valor agregado bruto por persona ocupada observados entre las distintas regiones colombianas. Los resultados, obtenidos mediante la técnica de datos de panel, ponen de manifiesto que la dotación de petróleo y carbón contribuye positivamente a la producción colombiana y que su distinta especialización entre regiones explica 8.14% y 3.32%, respectivamente, de las diferencias del valor agregado bruto por persona ocupada entre las regiones colombianas.Palabras clave: crecimiento económico, petróleo, carbón, recursos naturales, Colombia. Clasificación jel: L72, O47, R11. AbstRActThe aim of this paper is to determine the impact of oil and coal production on the Colombian economy for the period 1990-2011 and assess how the differences in endowments of these factors of production are explanatory of gross value added per employee differences observed between different regions in Colombia. The results obtained by the technique of panel data show that the oil and coal endowment contributes positively to Colombian production, their different endowment of oil and coal between regions explains 814% and 3.32% of the differences in gross value added per employee between the Colombian regions, respectively.

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The economic impact of natural resources

Cited by 87 publications

References 35 publications

The Norwegian Oil Bonanza and the Scandinavian Model in Comparative Perspective

The Norwegian Oil Bonanza and the Scandinavian Model in Comparative Perspective

The Nordic Model of Economic Development: Shocks, Reforms and Future Prospects

La contribución del petróleo y el carbón a la economía regional de Colombia, 1990-2011

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