Managing resource abundance and wealth : the Norwegian experience

This book describes the significant challenges facing petroleum-producing countries. The volume outlines the pitfalls that policymakers encounter in the aftermath of a major resource discovery, and what they can do to protect their countries from the most adverse consequences. These lessons are derived from two sources: The social science literature that examines the 'Paradox of Plenty' in its disparate forms; and the experience of Norway which has largely avoided this paradox. The book aims to demonstrate the variety of policy tools that are available and how these tools can be adjusted. Questions considered are for example how countries need to administer and regulate the industry. The volume shows how the industry can be managed in a democratic, just, and ethical manner, and for the benefit of the general population