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.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
