Benchmark
It’s Official: This Oil Giant Has Avoided Dutch Disease
Norges Bank study contradicts theory on economic impact of oil riches
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An abundance of oil and gas can be a curse if not managed properly. In academic circles it’s called Dutch Disease, a term that was coined after the Netherlands suffered a decline in manufacturing following the discovery of major petroleum riches.
Other countries have fared worse. In Venezuela and Angola, the discovery of black gold has depressed productivity and income.