--- canonical_url: "https://csls.ca/research/the-inclusion-of-natural-resource-wealth-in-the-index-of-economic-well-being-results-for-oecd-countries-1980-2013/" title: "The Inclusion of Natural Resource Wealth in the Index of Economic Well-Being: Results for OECD Countries, 1980-2013" author: name: "CSLS" url: "https://csls.ca/author/cslc/" date_published: "2026-07-02T12:41:58+00:00" date_modified: "2026-07-02T12:41:58+00:00" post_type: "research" summary: "" post_tag: - "Canada" - "economic well-being" - "IEWB" - "Index of Economic Well-Being" - "natural capital" - "natural resource wealth" - "Norway" - "OECD" country_focus: - "Canada" - "OECD" province_region: - "National" research_theme: - "Economic Well-Being" - "Sector/Industry Analysis" featured_image: "https://csls.ca/wp-content/uploads/2026/07/old-reports_hero_banner_bg.webp" status: "publish" --- # The Inclusion of Natural Resource Wealth in the Index of Economic Well-Being: Results for OECD Countries, 1980-2013 Canonical URL: https://csls.ca/research/the-inclusion-of-natural-resource-wealth-in-the-index-of-economic-well-being-results-for-oecd-countries-1980-2013/ # The Inclusion of Natural Resource Wealth in the Index of Economic Well-Being: Results for OECD Countries, 1980-2013 [Download full PDF report](https://csls.ca/pdf/csls2017-04-1.pdf) Cite this report × Cite this report as: Beard, Richard. 2017. “The Inclusion of Natural Resource Wealth in the Index of Economic Well-Being: Results for OECD Countries, 1980-2013.” CSLS Research Report 2017-04. Ottawa: Centre for the Study of Living Standards. https://csls.ca/research/the-inclusion-of-natural-resource-wealth-in-the-index-of-economic-well-being-results-for-oecd-countries-1980-2013/ ## Author: - Richard Beard Centre for the Study of Living Standards (CSLS) ## Report 2017-04 July 2017 31 pages ## Related research [Measuring the Appropriate Outcomes for Better Decision-Making: A Framework to Guide the Analysis of Health Policy Matthew Calver March 2016 | Report 2016-03 | 132 pages](https://csls.ca/research/measuring-the-appropriate-outcomes-for-better-decision-making-a-framework-to-guide-the-analysis-of-health-policy-2016-03/) [Living Standards Domain of the Canadian Index of Wellbeing Andrew Sharpe, Christopher Ross November 2011 | Report 2011-17 | 124 pages](https://csls.ca/research/living-standards-domain-of-the-canadian-index-of-wellbeing-2011-17/) [Productivity: Key to Economic Success Centre for the Study of Living Standards (CSLS) March 1998 | Report 1998-01 | 99 pages](https://csls.ca/research/productivity-key-to-economic-success/) [Apprenticeship in Canada: A Training System Under Siege? Andrew Sharpe December 1999 | Report 1999-03 | 59 pages](https://csls.ca/research/apprenticeship-in-canadaa-training-system-under-siege/) [A Survey of Indicators of Economic and Social Well-being Andrew Sharpe July 1999 | Report 1999-cprn | 72 pages](https://csls.ca/research/a-survey-of-indicators-of-economic-and-social-well-being/) [Creating a More Efficient Labour Market Centre for the Study of Living Standards (CSLS) June 2001 | Report 2001-02 | 147 pages](https://csls.ca/research/creating-a-more-efficient-labour-market/) [The Impact of the National Child Benefit Supplement on the Low Income Status of Canadian Families with Children: The SPSD/M Results Centre for the Study of Living Standards (CSLS) June 2002 | Report 2002-01 | 59 pages](https://csls.ca/research/the-impact-of-the-national-child-benefit-supplement-on-the-low-income-status-of-canadian-families-with-children-the-spsd-m-results/) [Raising Canadian Living Standards: A Framework for Discussion Centre for the Study of Living Standards (CSLS) October 2002 | Report 2002-td | 56 pages](https://csls.ca/research/raising-canadian-living-standards-a-framework-for-discussion/) [Productivity Trends in Natural Resources Industries in Canada Centre for the Study of Living Standards (CSLS) February 2003 | Report 2003-01a | 69 pages](https://csls.ca/research/productivity-trends-in-natural-resources-industries-in-canada/) [Productivity in the Forest Products Sector: A Review of the Literature Centre for the Study of Living Standards (CSLS) February 2003 | Report 2003-02 | 28 pages](https://csls.ca/research/productivity-in-the-forest-products-sector-a-review-of-the-literature/) ## Abstract ## Résumé EN FR Copy link Email LinkedIn This report presents augmented estimates of the Index of Economic Well-being (IEWB) for 14 OECD countries for the 1980-2013 period. The new estimates account for the inclusion of an internationally comparable measure of natural resource wealth which had been absent from previous IEWB reports. It finds that in 2013 Norway had the highest level of economic wellbeing and Spain the lowest. Despite being a resource rich country, Canada ranked eleventh among the fourteen countries for economic well-being. Australia ascended the most in the Index of Economic Well-being rankings with the inclusion of natural resource wealth, rising from seventh to fourth. A case study on the sensitivity of Norway’s natural capital to oil prices revealed that Norway’s first place ranking in the Index of Economic Well-being is robust to volatility in resource prices. Ce rapport présente des estimations augmentées de l’Indice de bien-être économique (IBEE) pour 14 pays de l’OCDE pour la période 1980-2013. Les nouvelles estimations tiennent compte de l’inclusion d’une mesure comparable à l’échelle internationale de la richesse en ressources naturelles, absente des rapports précédents sur l’IBEE. Le rapport révèle qu’en 2013, la Norvège affichait le niveau de bien-être économique le plus élevé et l’Espagne, le plus faible. Bien que riche en ressources, le Canada s’est classé onzième parmi les quatorze pays pour le bien-être économique. L’Australie a connu la plus forte progression dans le classement de l’IBEE avec l’inclusion de la richesse en ressources naturelles, passant du septième au quatrième rang. Une étude de cas sur la sensibilité du capital naturel de la Norvège aux prix du pétrole a révélé que le premier rang de la Norvège dans l’IBEE demeure robuste face à la volatilité des prix des ressources. [Download full PDF report](https://csls.ca/pdf/csls2017-04-1.pdf)