The impact of Management of Natural Resources (from Channels of the Institutional Index) on the Prosperity Index Selected Countries of OPEC in Comparison to Norway

All societies in path of growth and development, have a unique attention on prosperity and success that with all aspects of human life been tied. One of the factors influencing the prosperity index of natural resources that with management of natural resources and control of hard currency earnings from exports of natural resources can be provide grounds prosperity people. Therefore present study intends pay to investigate the impact of management of natural resources on prosperity index in selected countries of OPEC in comparison with Norway as one of the most prosperous countries in the world over the period 2011-2014. According to statistics published of 142 countries prosperity index by the Legatum Institute, respectively United Arab Emirates (with average world rank 24) and Iraq (with average world rank 130) have the best and worst ranking prosperity index and according statistics published of WDI during the same year these two countries to have the best and worst management of natural resources between selected countries of OPEC. Also statistics analysis show average ranking 1 in prosperity index is owned by the Norway that is position proper management of natural resources. Therefore According to statistics released by the Institute Legatum and WDI selected countries of OPEC are far away from Norway. Also review correlation coefficient between ranking indicators of prosperity and management of natural resources in selected countries of OPEC is also illustrates strong and negative relationship, so that is correlation coefficient between the overall ranking prosperity index and management of natural resources for selected countries of OPEC -0/91.