Does natural resource extraction compromise future well-being? Norwegian Genuine Savings, 1865-2018

Fink, Johanna; Ducoing, Cristián

doi:10.1016/j.exis.2022.101127

Cited by 5 publications

(3 citation statements)

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“…This makes an economic overreliance on oil and natural gas for GCC countries risky. Moreover, natural resource depletion eventually leads to various structural changes, such as migration (Todaro, 1969(Todaro, , 2011Okasha, 2020;Fink and Ducoing, 2022). Environmental stress and economic insufficiency increase as economies grow in developing countries.…”

Section: Literature Reviewmentioning

confidence: 99%

The economic and sustainability priorities in the United Arab Emirates: conflict exploration

Bach

Žmuk

Kamenjarska

et al. 2023

JEC

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Purpose This paper aims to explore and analyse stakeholders’ perceptions of the development priorities and suggests more effective strategies to assist sustainable economic growth in the United Arab Emirates (UAE). Design/methodology/approach The authors use the World Bank data set, which collects various stakeholders’ opinions on the UAE development. First, the exploratory factor analysis has been applied to detect the main groups of development priorities. Second, the fuzzy cluster analysis has been conducted to detect the groups of stakeholders with different attitudes towards the importance of extracted groups of priorities. Third, clusters have been compared according to demographics, media usage and shared prosperity goals. Findings The two main groups of development priorities have been extracted by the exploratory factor analysis: economic priorities and sustainability priorities. Four clusters have been detected according to the level of motivation when it comes to the economic and sustainability priorities: Cluster 1 (High economic – High sustainability), Cluster 2 (High economic – Medium sustainability), Cluster 3 (High economic – Low sustainability) and Cluster 4 (Low economic – Low sustainability). Members of the cluster that prefer a high level of economic and sustainability priorities (Cluster 1) also prefer more diversified economic growth providing better employment opportunities and better education and training for young people in the UAE. Research limitations/implications Limitations stem from the survey being conducted on a relatively small sample using the data collected by the World Bank; however, this data set allowed a comparison of various stakeholders. Future research should consider a broader sample approach, e.g. exploring and comparing all of the Gulf Cooperation Council (GCC) countries; investigating the opinions of the expatriate managers living in the UAE that are not from GCC countries; and/or including other various groups that are lagging, such as female entrepreneurs. Practical implications Several practical implications were identified regarding education and media coverage. Since respondents prioritize the economic development factors over sustainability factors, a media campaign could be developed and executed to increase sustainability awareness. A campaign could target especially male citizens since the analysis indicates that males are more likely to affirm high economic and low sustainability priorities than females. There is no need for further diversification of media campaigns according to age since the analysis did not reveal relevant differences in age groups, implying there is no inter-generational gap between respondents. Originality/value This paper contributes to the literature by comparing the perceived importance of various development goals in the UAE, such as development priorities and shared prosperity indicators. The fuzzy cluster analysis has been used as a novel approach to detect the relevant groups of stakeholders in the UAE and their developmental priorities. The issue of media usage and demographic characteristics in this context has also been discussed.

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Section: Literature Reviewmentioning

confidence: 99%

The economic and sustainability priorities in the United Arab Emirates: conflict exploration

Bach

Žmuk

Kamenjarska

et al. 2023

JEC

View full text Add to dashboard Cite

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“…Ref. [13] used a novel approach to examine how resource drilling affects future well-being, using genuine saving (GS) to predict socioeconomic well-being and describe unsustainable practices. Although Norway heavily relies on NRs to fuel its development, it achieved sustainable development through extensive investment in HC to compensate for NR depletion.…”

Section: Resource Endowments and Human Well-being Nexusmentioning

confidence: 99%

“…Alternatively, the influence of NR abundance on non-monetary development outcomes, such as human well-being (HW) is attracting increasing attention in political and academic circles, with mixed results. The availability of NRs is thought, on the one hand, to shield HW by elevating people's living standards [11][12][13]. However, on the other hand, a research survey suggests that abundant NRs are detrimental to HW [14,15] A growing belief holds that NRs do not obstruct development on their own; however, they may cause some discrepancies that operate as transmission conduits to thwart economic advancement [16].…”

Section: Introductionmentioning

confidence: 99%

Can the Resource Curse for Well-Being Be Morphed into a Blessing? Investigating the Moderating Role of Environmental Quality, Governance, and Human Capital

ElMassah

Hassanein

2022

Sustainability

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One of the most pressing global concerns is ensuring high levels of human well-being without overburdening natural resources. The impact of natural resource abundance on the economy’s monetary dimensions has long been controversial, with researchers debating whether it is a blessing or a curse. Recently, focus has shifted to its impact on non-monetary attributes (i.e., human well-being), with conflicting empirical evidence with respect to existence of the resource curse. However, studies on the indirect impact of natural resources on well-being are rare. This inquiry extends previous research by investigating the effect of natural resource abundance on human well-being and the underlying mechanisms that may clarify the convoluted link between the two variables in the UAE from 1990 to 2019. The novel contribution of this research is the evaluation of the resource curse concept from a broader perspective by considering how resource endowments indirectly affect human well-being via environmental quality, human capital, and governance channels. To this end, in the present study, we utilized the autoregressive distributed lag (ARDL) technique for cointegration and deployed the vector error correction model (VECM) for causality investigation. The ARDL results indicate cointegrated variables with diverse integration orders, signifying a long-term bond. Furthermore, the outcomes endorse the notion that resource endowment is inversely related to well-being as calibrated by the Human Development Index (HDI), corroborating the “Resource Curse Concept”, whereby large resource endowments impede human well-being. In terms of transmission channels, natural resources improve human well-being through environmental quality. In contrast, both human capital and governance have insignificant impacts on the influence of natural resources on well-being. Therefore, resource endowments improve human well-being as long as they do not harm the environment. The present analysis also resulted in the development of a feedback hypothesis between natural resource endowments and human well-being. The findings of this study provide several insights into the control of the direct and indirect adverse effects of natural resources on human well-being, the foremost being the provision of incentives for low-carbon energy use, reducing energy intensity, and assisting businesses engaged in R&D to minimize the cost of employing renewables, as well as investments in low-carbon technologies/cleantech and environmental technologies.

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The past, present and future of Nordic environmental economic history

Lindmark

2024

Scandinavian Economic History Review

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This article traces the development of environmental economic history focusing on the Nordic countries over the past decades. In doing so, a definition of environmental economic history is presented to distinguish the field of research from traditional economic history as well as environmental history. As shown, the field developed both in relation to environmental economics and by providing historical perspectives to the current environmental debate. The article concludes that it is important for students in the field to integrate theoretically rooted environmental perspectives into the traditional economic historical research.

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Does natural resource extraction compromise future well-being? Norwegian Genuine Savings, 1865-2018

Cited by 5 publications

References 50 publications

The economic and sustainability priorities in the United Arab Emirates: conflict exploration

The economic and sustainability priorities in the United Arab Emirates: conflict exploration

Can the Resource Curse for Well-Being Be Morphed into a Blessing? Investigating the Moderating Role of Environmental Quality, Governance, and Human Capital

The past, present and future of Nordic environmental economic history

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