Oecd Economic Surveys: Norway 2002 (Oecd Economic Surveys)

This 2002 edition of OECD's periodic review of Norway's economy includes special features on enhancing the effectiveness of public spending and on policies to boost potential output growth. Annotation The OECD's survey of the Norwegian economy considers a range of issues including: macroeconomic developments, prospects and policy challenges; and policies to boost potential output growth. This issue also contains a special feature on public spending management and strategies for improving the effectiveness of public expenditure. Norway is the world's third largest oil exporter behind Saudi Arabia and Russia, and high oil prices have led to a very large current account surplus (15 per cent of GDP in 2001). However, whilst oil wealth is benefiting the Norwegian population, it also complicates effective macroeconomic policy management and the implementation of structural reform. Both are essential to lift labour supply and productivity levels in order to secure strong growth over the long term Assessment and recommendations I. Macroeconomic developments, prospects and policy challenges II. Enhancing the effectiveness of public spending III. Policies to boost potential output growth Notes Glossary of acronyms Bibliography Annex I. The use of generational accounts in Norway Annex II. Key aspects of market structure and state involvement by sector Annex III. Calendar of events