Dutch disease

British  

noun

1. the deindustrialization of an economy as a result of the discovery of a natural resource, as that which occurred in Holland with the exploitation of North Sea Oil, which raised the value of the Dutch currency, making its exports uncompetitive and causing its industry to decline

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Example Sentences

Balazs Egert, senior economist from the Organisation for Economic Co-ordination and Development, said this link was similar to "Dutch disease" - when a booming sector, often linked to the discovery of a commodity such as oil, drains resources from other sectors to the detriment of the overall economy.

From Reuters

That, in turn, may be hurting the countries’ export markets, or what is known in economics as “Dutch disease,” further depressing the economies.

From Washington Times

Others warn of the “Dutch disease,” a phenomenon so labeled in the 1970s after a natural gas boom sapped the strength of manufacturing in the Netherlands.

From New York Times

The immense diamond wealth also opened doors to the so-called Dutch disease, the risks of authoritarian inefficiency and the retreat of the rule of law.

From Washington Times

“They call our gas extraction ‘the Dutch disease,’” said Jorien de Lege of Friends of the Earth.

From Washington Times