Does natural resource extraction compromise future well-being? Norwegian Genuine Savings, 1865-2018
(2022) In The Extractive Industries and Society 11.- Abstract
- In recent years Genuine Savings (GS) has emerged as an indicator of 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 2018. The preliminary results indicate unsustainable development throughout most of the period leading up to the Second World War and positive GS since 1946, with a single exception in 1992. 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... (More)
- In recent years Genuine Savings (GS) has emerged as an indicator of 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 2018. The preliminary results indicate unsustainable development throughout most of the period leading up to the Second World War and positive GS since 1946, with a single exception in 1992. 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. \\
Keywords: Norway; Natural Resources, Genuine Savings, Oil, Well-being (Less)
Please use this url to cite or link to this publication:
https://lup.lub.lu.se/record/a1909fec-9b64-402b-9953-67556cb6151f
- author
- Fink, Johanna LU and Ducoing, Cristian LU
- organization
- publishing date
- 2022
- type
- Contribution to journal
- publication status
- published
- subject
- in
- The Extractive Industries and Society
- volume
- 11
- article number
- 101127
- publisher
- Elsevier
- external identifiers
-
- scopus:85134730913
- ISSN
- 2214-790X
- DOI
- 10.1016/j.exis.2022.101127
- project
- Genuine Savings as a measure of sustainable development. Towards a GDP replacement.
- language
- English
- LU publication?
- yes
- id
- a1909fec-9b64-402b-9953-67556cb6151f
- date added to LUP
- 2022-07-14 21:41:30
- date last changed
- 2024-08-08 22:55:25
@article{a1909fec-9b64-402b-9953-67556cb6151f, abstract = {{In recent years Genuine Savings (GS) has emerged as an indicator of 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 2018. The preliminary results indicate unsustainable development throughout most of the period leading up to the Second World War and positive GS since 1946, with a single exception in 1992. 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. \\<br/>Keywords: Norway; Natural Resources, Genuine Savings, Oil, Well-being}}, author = {{Fink, Johanna and Ducoing, Cristian}}, issn = {{2214-790X}}, language = {{eng}}, publisher = {{Elsevier}}, series = {{The Extractive Industries and Society}}, title = {{Does natural resource extraction compromise future well-being? Norwegian Genuine Savings, 1865-2018}}, url = {{http://dx.doi.org/10.1016/j.exis.2022.101127}}, doi = {{10.1016/j.exis.2022.101127}}, volume = {{11}}, year = {{2022}}, }