Escaping the Resource Curse: Managing Natural-Resource Revenues in low-Income Countries The Earth Institute at Columbia University February 26, 2004. Managing the Economic Impact: Some Lessons from Norway Per Schreiner Senior Economist, ECON Analysis [email protected] Background.
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Data from BLS (2003), Table 1, http://bls.gov/fls
Source: St meld nr 1 (1997-98)
Annual growth rates of GNP
GNP Mainland Norway
Source: Fig 9, SSB Notater 2003/43 Oslo 2003
SavingSpendingUsing real return of financial assets
Source: Chart 3.12 in Report No. 30 to the Storting (2000-2001)
Source: Chart 2, The Norwegian Government Petroleum Fund, http://odin.dep.no/finNorwegian petroleum wealth (percent of GDP)
Net oil revenues http://odin.dep.no/fin
+ Return on investments
Transfer to finance non-oil budget deficit estimated 4% real return on assets
ExpendituresHow the fund works
Source: Figure 2, The Norwegian Government Petroleum Fund, http://odin.dep.no/fin