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.
Bibliographical notePublisher Copyright:
© Oxford University Press, 2013.
- Economic reform
- Natural resources
- Resourceabundant countries