It's a term of art in development economics. Norway is an interesting case because it had a developed economy before petroleum exploitation, but even so a lot o

It's a term of art in development economics. Norway is an interesting case because it had a developed economy before petroleum exploitation, but even so a lot of Norwegian policies depend on having a large fiscal buffer based on resource extraction. Developing states without strong social structures generally follow maladaptive development paths when exposed to lots of resource revenues, which is a tragedy in its own right.