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Wednesday, September 9, 2015

Norway: Peak in Oil Fortunes?

“Norway’s half century of good fortune from its oil and gas wealth may have peaked,” according to an IMF report. “Oil and gas production will continue for many decades on current projections, but output and investment have flattened out, and the spillovers from the offshore oil and gas production to the mainland economy may have turned from positive to negative. Thus far, economic policy has needed to focus on managing the windfall, and Norway’s institutions have been a model for other countries. Going forward, the challenges will become more complex. The problems of managing “Dutch disease” are not gone, but they will abate, particularly if the recent drop in oil prices is sustained. However, they will be replaced by the difficulties of managing a transition away from what has been an increasingly oil- and gas-dependent mainland economy.”

“Norway’s half century of good fortune from its oil and gas wealth may have peaked,” according to an IMF report. “Oil and gas production will continue for many decades on current projections, but output and investment have flattened out, and the spillovers from the offshore oil and gas production to the mainland economy may have turned from positive to negative. Thus far, economic policy has needed to focus on managing the windfall, and Norway’s institutions have been a model for other countries. Read the full article…

Posted by Prakash Loungani at 5:35 PM

Labels: Energy & Climate Change

Monday, September 7, 2015

Labor Day Special: How Countries Rank on Whether Growth Creates Jobs

Does economic growth lead to job creation in the short run (over a year)? This new report ranks the G20 countries on how well they are able to translate short run growth into more jobs. Check your guesses against the answers in the report.

Turkey’s Labour and Social Security Minister Ahmet Erdem (center), surrounded by Labour and Employment Ministers of the G20, poses for a family photo during the G20 Ministerial meeting in Ankara, Turkey on Sept 3. (AFP)

Does economic growth lead to job creation in the short run (over a year)? This new report ranks the G20 countries on how well they are able to translate short run growth into more jobs. Check your guesses against the answers in the report.

Turkey’s Labour and Social Security Minister Ahmet Erdem (center), surrounded by Labour and Employment Ministers of the G20, poses for a family photo during the G20 Ministerial meeting in Ankara, Read the full article…

Posted by Prakash Loungani at 11:47 AM

Labels: Inclusive Growth

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