Towards Economic Diversity: Exploring Norway’s Transition Beyond Oil and Gas Through Currency Challenges
Slatlem, Thomas (2024)
2024
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2024051311324
https://urn.fi/URN:NBN:fi:amk-2024051311324
Tiivistelmä
The Norwegian economic landscape is deeply intertwined with its petroleum-related activities, which has bolstered wealth and stability. Still, as global trends shift towards a more sustainable future, the nation faces the imperative of diversifying its economy and adapting to this change.
This thesis examines the multifaceted factors influencing Norway’s economy, while focusing on the Norwegian Krone and its susceptibility to oil price fluctuations, trade imbalances, and macroeconomic policies. Through comprehensive analysis and interviews with industry experts from Nissan Nordic Europe in the automotive industry and Blink Hus Dale Malo in the construction industry, the study elucidates the nuanced effects of currency depreciation on businesses and consumers. Furthermore, it explores Norway’s transition to a greener economy, juxtaposing its trajectory with Denmark’s diversified economic model.
The findings from this underscore the various complexities of Norway’s economic challenges and highlight the necessity of strategic planning to move towards a more sustainable and resilient future. With demand for fossil energy sources expected to dwindle in the future, this thesis explains how Norway can also use what it has learned from the oil and gas industry to its benefit during this transition and in the future.
This thesis examines the multifaceted factors influencing Norway’s economy, while focusing on the Norwegian Krone and its susceptibility to oil price fluctuations, trade imbalances, and macroeconomic policies. Through comprehensive analysis and interviews with industry experts from Nissan Nordic Europe in the automotive industry and Blink Hus Dale Malo in the construction industry, the study elucidates the nuanced effects of currency depreciation on businesses and consumers. Furthermore, it explores Norway’s transition to a greener economy, juxtaposing its trajectory with Denmark’s diversified economic model.
The findings from this underscore the various complexities of Norway’s economic challenges and highlight the necessity of strategic planning to move towards a more sustainable and resilient future. With demand for fossil energy sources expected to dwindle in the future, this thesis explains how Norway can also use what it has learned from the oil and gas industry to its benefit during this transition and in the future.