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dc.contributor.authorGrytten, Ola Honningdal
dc.date.accessioned2020-09-16T09:05:11Z
dc.date.available2020-09-16T09:05:11Z
dc.date.issued2020-09
dc.identifier.issn0804-6824
dc.identifier.urihttps://hdl.handle.net/11250/2678016
dc.description.abstractThe present paper discusses Norway’s way to prosperity during the two last centuries. The main reason for its wealth seems to have been the ability to meet international demand by utilizing its rich natural resources, adopting efficient technology, and draw on a skilled labor force in order to gain high productivity and profitability. Historical national accounts reveal that Norway’s wealth was close to the western European average in the early nineteenth century. From the 1840s to the mid 1870s, Norwegian growth rates were very high, due to significant growth in foreign trade. This period was followed by relative stagnation until the 1890s, from when the country saw rapid industrialization on the basis of hydroelectricity. After the two world wars Norway adopted a social democratic rule, with a high degree of economic planning, called the Nordic model. This has contributed to a large public sector and evenly distributed wealth and resources. The discovery of oil and gas on the Norwegian continental shelf marked a new era, when Norway experienced higher growth rates than most western economies. This has made it the country with the highest score in the United Nations Human Development Index (HDI) during the two first decades of the 21st century.en_US
dc.language.isoengen_US
dc.publisherInstitutt for samfunnsøkonomien_US
dc.relation.ispartofseriesDP SAM;17/2020
dc.subjectEconomic history, economic growth, economic development, Norway.en_US
dc.titleThe Wealth of a Nation: Norways Road to Prosperityen_US
dc.typeWorking paperen_US
dc.subject.nsiSamfunnsvitenskapen_US
dc.source.pagenumber34en_US


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