Is the Norwegian model exportable to combat Dutch disease?

Ramírez-Cendrero, Juan M.; Wirth, Eszter

doi:10.1016/j.resourpol.2016.02.010

Cited by 28 publications

(14 citation statements)

References 27 publications

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“…The Dutch disease is a scenario that can occur in small countries with an important resource extraction sector. The large-scale expansion of this sector generates large export revenues that are exchanged in domestic currency [9]. This demand appreciates the domestic currency, causing domestic goods to become expensive compared to foreign goods.…”

Section: Introductionmentioning

confidence: 99%

The Symptoms of Illness: Does Israel Suffer from “Dutch Disease”?

2019

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The natural gas revolution in Israel started about two decades ago. Its numerous social impacts include moving to cleaner energy, improving energy security and the balance of trade, tightening international relations, and increasing tax revenue. However, “Dutch disease” phenomena—where the accelerated export of natural gas leads to the strengthening of the local currency, the subsequent weakening of other exporting industries, and rising unemployment—might suck Israel into the economic slowdown. This study examines whether the strengthening of the New Israeli Shekel (ILS) in recent years is a symptom of “Dutch disease”. It is expected that the large-scale export of natural gas will start in 2021 with the development of the major offshore field “Leviathan”. Notably, ILS has been appreciating for several years already. We employed the event study approach to analyze the fluctuations of the daily ILS/USD real exchange rate in the years 2009–2017, combined with the media announcements related to the gas discoveries published during this period. The results revealed that gas-related news does affect the exchange rate and appreciate ILS. GARCH analysis confirms the results.

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Section: Introductionmentioning

confidence: 99%

The Symptoms of Illness: Does Israel Suffer from “Dutch Disease”?

2019

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“…Dutch disease is a scenario that can occur in small countries with an important resource extraction sector. The large-scale expansion of this sector generates large export revenues that are exchanged in domestic currency [10]. This demand appreciates the domestic currency, causing domestic goods to become expensive compared to foreign goods.…”

Section: Understanding Of Dutch Disease In Netherland Lesson For Nigeriamentioning

confidence: 99%

Dutch Disease Syndrome: The Nigeria’s Resource Trap Sickness, Easy to Catch, Harmful to the System and Difficult to Cure

Yusuf

2021

ARJASS

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This study examines the economy of Dutch disease syndrome in Nigeria from 1970 – 1985. The paper argues that the discovery of oil in 1970 opened-up windows of opportunities for the country, as a result of high inflow of petrodollar surpluses. The paradoxical effect is this, after reaching its peak period, the surpluses decline steadily and the revenue it generated when prices were high tends to cause “Dutch Disease”. The result of this study establishes the existence of resource curse in the Nigeria’s economy system. Findings of this study shows that the non-support of tradable sector, corruption, mismanagement, lack of diversification of export base and the non-oil sectors like agriculture, industries and mining, affected the country’s economic base. Thus, it was easy for Nigerians to catch the high oil prices, the decline in the oil boom transformed into a harmful poverty disease and it has now become very difficult to cure despite so many efforts. This shows that, there is a paradox of scarcity amidst plenty. This paper adopts the historical research method which relies on qualitative approach of data analysis. The paper draws conclusion to the fact that, oil discovery in Nigeria is a curse rather than a blessing.

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“…Furthermore, pension funds possibly employ a broader range of actions to address environmental concerns. Six research papers have been published on pension funds and fossil fuels since 2016, of which only two have scrutinised (albeit limitedly) their environmental and social governance policies [32,33]. Therefore, a second gap in scholarly knowledge pertains to the range of actions that pension funds take beyond divestment and engagement to address environmental issues, and the implications that these actions may bear on both LFFU and the climate emergency.…”

Section: Knowledge Gaps and Structurementioning

confidence: 99%

Conflicting commitments? Examining pension funds, fossil fuel assets and climate policy in the organisation for economic co-operation and development (OECD)

Rempel

Gupta

2020

Energy Research & Social Science

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The 2015 Paris Agreement on Climate Change implicitly calls for leaving 80% of coal, 50% of gas and 33% of oil reserves underground. This paper studies the scarcely addressed relationship between investors like pension funds and climate policy implementation by addressing the question: what is the extent of pension fund investments in the fossil fuel sector, what is the range of actions that pension funds take to address environmental issues, and what does this suggest about pension fund commitments to ambitious climate targets through leaving fossil fuels underground? A small sample of pension funds alone manages at least €79 billion in liquid fossil fuel assets, suggesting that OECD pension funds may jointly manage between €238-828 billion. Sustainability reports reveal that pension funds engage in five actions to implement climate policies: 1) divestment; 2) direct engagement; 3) carbon footprint calculations; 4) investing in 'green' alternatives; and 5) engaging in climateoriented coalitions. However, their use of these actions is so far ineffective and counterproductive to taming the fossil fuel sector. Pension funds are not fully committed to leaving fossil fuels underground, which de facto renders them not yet committed to meeting ambitious climate targets. Forthcoming policies must target investors like pension funds to improve the prospects of meeting such targets and protect vulnerable countries from inheriting the risks of stranded assets.

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Is the Norwegian model exportable to combat Dutch disease?

Cited by 28 publications

References 27 publications

The Symptoms of Illness: Does Israel Suffer from “Dutch Disease”?

The Symptoms of Illness: Does Israel Suffer from “Dutch Disease”?

Dutch Disease Syndrome: The Nigeria’s Resource Trap Sickness, Easy to Catch, Harmful to the System and Difficult to Cure

Conflicting commitments? Examining pension funds, fossil fuel assets and climate policy in the organisation for economic co-operation and development (OECD)

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