Does natural resource extraction compromise future well-being? Norwegian Genuine Savings 1865-2018
(2021) In LSR Working papers series- Abstract
- Over recent years Genuine Savings (GS) has emerged as an indicator for weak sustainability and predictor of socio-economic well-being. This paper presents the first long-term GS estimates for Norway, covering the period from 1865 until 2019. The preliminary results indicate unsustainable development throughout most of the period leading up to the Second World War and sustainable development ever since 1946. This result is rather surprising since the discovery of oil and natural gas fields in 1969 resulted in substantial natural resource depletion, which is usually associated with negative levels of GS. However, in a particularity compared to most natural resource exporters, Norway managed to achieve sustainable development by compensating... (More)
- Over recent years Genuine Savings (GS) has emerged as an indicator for weak sustainability and predictor of socio-economic well-being. This paper presents the first long-term GS estimates for Norway, covering the period from 1865 until 2019. The preliminary results indicate unsustainable development throughout most of the period leading up to the Second World War and sustainable development ever since 1946. This result is rather surprising since the discovery of oil and natural gas fields in 1969 resulted in substantial natural resource depletion, which is usually associated with negative levels of GS. However, in a particularity compared to most natural resource exporters, Norway managed to achieve sustainable development by compensating natural resource depletion with high investments into human and physical capital. (Less)
Please use this url to cite or link to this publication:
https://lup.lub.lu.se/record/2d5129b3-c48a-4f88-a9d5-aa37bd53f90b
- author
- Fink, Johanna
LU
and Ducoing, Cristian
LU
- organization
- publishing date
- 2021-09
- type
- Working paper/Preprint
- publication status
- published
- subject
- keywords
- Norway, Natural Resources, Genuine Savings, Oil, Well-being, N53, N54, N13, Q56, Q33
- in
- LSR Working papers series
- issue
- 2021:05
- pages
- 46 pages
- project
- Genuine Savings as a measure of sustainable development. Towards a GDP replacement.
- language
- English
- LU publication?
- yes
- id
- 2d5129b3-c48a-4f88-a9d5-aa37bd53f90b
- date added to LUP
- 2021-09-30 11:03:29
- date last changed
- 2021-09-30 12:31:49
@misc{2d5129b3-c48a-4f88-a9d5-aa37bd53f90b, abstract = {{Over recent years Genuine Savings (GS) has emerged as an indicator for weak sustainability and predictor of socio-economic well-being. This paper presents the first long-term GS estimates for Norway, covering the period from 1865 until 2019. The preliminary results indicate unsustainable development throughout most of the period leading up to the Second World War and sustainable development ever since 1946. This result is rather surprising since the discovery of oil and natural gas fields in 1969 resulted in substantial natural resource depletion, which is usually associated with negative levels of GS. However, in a particularity compared to most natural resource exporters, Norway managed to achieve sustainable development by compensating natural resource depletion with high investments into human and physical capital.}}, author = {{Fink, Johanna and Ducoing, Cristian}}, keywords = {{Norway; Natural Resources; Genuine Savings; Oil; Well-being; N53; N54; N13; Q56; Q33}}, language = {{eng}}, note = {{Working Paper}}, number = {{2021:05}}, series = {{LSR Working papers series}}, title = {{Does natural resource extraction compromise future well-being? Norwegian Genuine Savings 1865-2018}}, url = {{https://lup.lub.lu.se/search/files/103174253/LSRWPS0521.pdf}}, year = {{2021}}, }