Research Themes and Funding

Resource Rich Economies

Here we have gathered our research on resource rich economies. Our research on the topic is focused on economies with high oil reserves, however, the papers are relevant for economies with other resource stocks as well. 

  • Fiscal Policy Regimes in Resource-Rich Economies (Hilde C. Bjørnland, Roberto Casarin, Marco Lorusso and Francesco Ravazzolo)
  • Den økonomiske styringen av det moderne Norge: Handlingsregelen og Oljefondet (Hilde C. Bjørnland)
    • Published in: Samfunnsøkonomene, no. 4, 2022
  • Monetary policy when export revenues drop (Drago Bergholt, Øistein Røisland, Tommy Sveen and Ragnar Torvik)
    • Published in: Journal of International Money and Finance, Vol. 137, 102893. https://doi.org/10.1016/j.jimonfin.2023.102893 
    • CAMP Working Paper 04/2022
  • Local economic development and oil discoveries (Jonas Hveding Hamang)
  • Oil Windfalls and Regional Economic Performance in Russia (Julia Skretting)
  • Supply Flexibility in the Shale Patch: Evidence from North Dakota (Hilde C. Bjørnland, Frode Martin Nordvik and Maximilian Rohrer)
    • Published in: Journal of Applied Econometrics, 2021; 36: 273– 292. https://doi.org/10.1002/jae.2808 
    • CAMP Working Paper 02/2017
  • OPEC’s Crude Game: Strategic Competition and Regime-switching in Global Oil Markets (Gundersen and Hvinden)
  • Oil and Fiscal Policy Regimes (Bjørnland, Casarin, Lorusso and Ravazzolo)
  • World steel production: A new monthly indicator of global real economic activity (Ravazzolo and Vespignani). Published in: Canadian Journal of Economics/Revue canadienne d'économique, 53: 743-766. doi:10.1111/caje.12442
  • The Impact of U.S. Supply Shocks on the Global Oil Price (Gundersen). Published in: The Energy Journal, 2020, Vol. 41
  • OPEC's crude game: The supply curve in a dynamic, strategic environment (Hvinden)
  • Supply flexibility in the shale patch: Facts, no fiction (Hilde C. Bjørnland)
  • Commodity Prices and Fiscal Policy Design: Procyclical Despite a Rule (Bjørnland and Thorsrud). Published in: Journal of Applied Econometrics  34(2), 2019,  pp. 161-180 
  • New Kid on the Block? China vs the US in World Oil Markets (Cross, Nguyen and Zhang)
  • The Shale Oil Boom and the U.S. Economy: Spillovers and Time-Varying Effects (Bjørnland and Zhulanova)
  • Business Cycles In An Oil Economy (Bergholt, Larsen and Seneca). Published in: Journal of International Money and Finance 2019, 96, pp. 283-303.
  • Dutch Disease Dynamics Reconsidered  (Bjørnland, Thorsrud and Torvik). Published in: European Economics Review, 2019, Vol.119, pp. 411-433.
  • Should Developing Countries Establish Petroleum Funds? (Torvik, 2017). Published in: The Energy Journal, 2018, Vol.39(4)
  • Oil and Civil conflict: On and off (shore) (Andersen, Nordvik and Tesei)
  • The political economy of public income volatility: with an application to the resource curse  (Robinson, Torvik and Verdier). Published in: Journal of Public Economics, 2017, vol. 145(C), 243-252
  • Petro Rents, Political Institutions, and Hidden Wealth: Evidence from Offshore Bank Accounts (Andersen, Johannesen, Lassen and Paltseva). Published in: Journal of the European Economic Association, 2017, vol 15(4), 818–860
  • Boom or Gloom? Examining the Dutch disease in two-speed economies (Bjørnland and Thorsrud). Published in: Economic Journal, 2016, vol 126(598), 2219–2256
  • Petro populism (Matsen, Natvik and Torvik). Published in: Journal of Development Economics, 2016, vol. 118, 1-12
  • Local Natural Resource Curse? (Borge, Parmer and Torvik). Published in: Journal of Public Economics, 2015, vol. 131, 101-114
  • What drives oil prices? Emerging versus Developed Economies (Aastveit, Bjørnland and Thorsrud). Published in: Journal of Applied Econometrics, 2015 vol. 30(7), 1013-1028