Ressursgrunnlag

Ressursgrunnlag is a term used in economics and public policy to describe the total set of resources a country or region can mobilize for production and welfare over time. It includes natural resources such as land, water, minerals, timber and energy resources (oil and gas), as well as human resources (education, health, skills), capital resources (infrastructure, machines, financial capital) and the institutional and technological capabilities that support productive activity.

The concept is used to assess long-term growth potential and sustainability. It is not a fixed stock; whether a resource base is valuable depends on prices, technology, productivity, institutions and environmental constraints. A strong ressursgrunnlag can enable high living standards, but mismanagement can erode it, through depletion, price volatility or environmental degradation.

In practice, analysts measure ressursgrunnlag with a set of indicators, such as reserves and production levels for natural resources, measures of human capital (education levels, labor force participation), the stock of physical capital and infrastructure, and indicators of innovation and institutions. In resource-rich economies, the balance between exploiting resources and investing in diversification and savings is crucial to avoid the so-called resource curse.

Policy implications include diversifying the economy, investing in education and R&D, maintaining sound financial management and infrastructure, and ensuring sustainable extraction policies that protect the environment and future welfare. Examples include Norway's sovereign wealth fund and countries with strong education systems building resilience beyond extractive cycles.