The economy of Norway
Norway has a mixed economy.
I’ll explain you a little bit about the mixed economy itself, the economic
growth and the economic policy.
The Norwegian
economy is generally characterized as a mixed economy, which means a capitalist
market economy with a clear component of state influence. As in the rest of
Western Europe, the expansion of most industry in Norway has largely been
governed by private property rights and the private sector. Some industrial
activities now are owned by the state.
Economic Growth
Norway is a highly developed, industrial
country with an open, export-oriented economy. It is listed as one of the
richest countries in the world. It has also achieved top-rankings with regard
to standard of living, life expectancy, health and housing standards.
Economic Policy
Norway’s economic policy is designed to
stabilize and counteract unemployment and inflation, to stimulate growth and to
influence the structure of industry and the distribution of income. In addition to their financial and credit policies,
the central authorities have implemented an income policy which involves taking
measures to influence the outcome of the wage, agricultural and fisheries settlement
negotiations and more.
Labour Market
The
labour market in Norway is les or more good.
It’s because the achievement of high
employment has been a priority item on the political agenda of post-war Norway.
During the 1970s, the development of the North Sea oil fields combined with an
active labour market policy led to significantly lower unemployment in Norway
than in other industrial countries.
In recent years, the size of the workforce
has stabilized at 2.0, 2.1 million employees. The number of women employees
escalated in the 1980s and has since remained high. There are a considerable
number of part-time employees on the Norwegian workforce. Just under half of
all women and about 10% of all men work fewer than 36 hours a week.
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