Managing Resource Abundance and Wealth: The Norwegian Experience by Jonathan W. MosesManaging Resource Abundance and Wealth: The Norwegian Experience by Jonathan W. Moses

Managing Resource Abundance and Wealth: The Norwegian Experience

byJonathan W. Moses, Bjorn Letnes

Hardcover | June 24, 2017

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Managing Resource Abundance and Wealth: The Norwegian Experience describes the sundry and significant challenges, both economic and political, facing petroleum-producing countries. The volume outlines the pitfalls that policymakers encounter in the aftermath of a major resource discovery, andwhat they can do to protect their countries from the most adverse consequences. These lessons are derived from two very different sources: The broader - if still underdeveloped - social science literature that examines the "Paradox of Plenty" in its disparate forms; and the experience of a countrythat has successfully managed its natural resources over several decades. As a small country on the margins of Europe, Norway has stood up to powerful international interests in one of the world's most powerful industries. Norway has exerted sovereign control over its natural environment, andexploited its resources in a way that has delivered significant wealth to its citizens. This volume explains how Norway has largely avoided the "Paradox of Plenty". It aims to demonstrate the variety of policy tools that are available to states rich in natural resources, and how these tools can be adjusted to changing (domestic and international) contexts. It considers a number ofquestions, such as how countries need to administer and regulate the industry to consider the costs and benefits associated with various contract and licensing regimes, and fiscal arrangements; to maintain competitiveness and avoid becoming too dependent upon the sector; to maximize local content;and to protect the broader economy from the volatility of petroleum prices. The volume shows how the industry can be managed in a democratic, just, and ethical manner, and for the benefit of the general population.
Jonathon W. Moses is a Professor of Political Science at the Norwegian University of Science and Technology, where he has taught since 1993. He is also Chairman of the Board, Researcher and Consultant at the Center of Petroleum Management (CPM). His research interests concern how states can maintain political sovereignty in response to...
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Title:Managing Resource Abundance and Wealth: The Norwegian ExperienceFormat:HardcoverDimensions:368 pages, 9.21 × 6.02 × 0 inPublished:June 24, 2017Publisher:Oxford University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0198787170

ISBN - 13:9780198787174

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Table of Contents

1. Introduction2. The International Context3. The Norwegian Context4. The Norwegian Petroleum Administration5. Commercial Frameworks6. Macroeconomic Balance7. Wealth Management8. Securing Local Content9. Regulating the Workplace and Environment10. The Ethics of Petroleum11. ConclusionGlossary