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Title: Norway's oil and gas sector : how did the country avoid the resource curse?
Other Titles: Gás e petróleo na Noruega : como o país driblou a maldição dos recursos?
Sectores de gas y petróleo en Noruega : cómo el país evitó la maldición de los recursos?
Authors: Torres, César Said Rosales
Abstract: This essay is an effort to understand the dynamics behind a successful model of wealth distribution in one of the top oil producers in the world: Norway. The first part explains the concept of “resource curse” to describe the challenges that resource rich nations face in their economies. The next section describes the conditions in Norway since the late 1950s to make the point that efficient wealth management, savings, and distribution systems of a given country are usually based on three major initial aspects: comparatively low oil and gas production prospects in its initial phase of exploration, high level of economic and political development, and a political system that does not pressure the government to directly use the revenues obtained from natural resources to alleviate social, political, and economic problems. The third section explains the “Norwegian model,” as well as the future challenges to keep its good performance. Finally, after a few conclusions on the particularities of the Norwegian model, the essay provides a brief comparison with Mexico’s oil and gas sector to assess which general policies could be replicated in the North American country in the context of the energy reform approved in December 2013.
metadata.dc.rights.holder: Instituto de Pesquisa Econômica Aplicada (Ipea)
metadata.dc.rights.license: É permitida a reprodução deste texto e dos dados nele contidos, desde que citada a fonte. Reproduções para fins comerciais são proibidas.
metadata.dc.type: Revista Tempo do Mundo - Artigos
Appears in Collections:Economia. Desenvolvimento Econômico: Artigos
Meio Ambiente. Recursos Naturais: Artigos

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