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2007 OECD Economic Surveys: Norway 2007

image of OECD Economic Surveys: Norway 2007

OECD's periodic survey of Norway's economy. This edition examines the economic challenges facing Norway in the coming years, including preserving Norway's economic success, managing monetary policy under low inflation, putting public finances on a sustainable path, boosting the labour supply, and encouraging innovation.

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Encouraging innovation

R&D intensity and other standard innovation measures are low in Norway. This presents something of a puzzle. On the one hand, productivity growth has been high, and on the other, Norway has developed a solid institutional framework for innovation support. The main problem seems to lie on the side of firms, who have done very well by adapting existing technologies to boost their productive efficiency, apparently seeing little need to produce innovations of their own on account of high risks and costs. Indeed, industrial structure is characterised by relatively large shares of small firms and low tech industries. The same patterns are reflected in education output, with a dwindling supply of math, science and technology (MST) degrees.

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