Is the Norwegian model exportable to combat Dutch disease?

Abstract

In many countries, oil and gas resources have proved detrimental to economic development. Norway is often presented as a resource-abundant economy which has avoided symptoms of resource curse, such as Dutch disease. This paper analyzes the key features of the Norwegian oil and gas industry, including Statoil and the Government Pension Fund Global, and it reflects on the not exportable (specificities) and exportable aspects of Norway's experience. From this analysis, we formulate the lessons that the Norwegian experience can provide to foster the improved management of oil and gas resources in other economies