Understanding the Norwegian Petroleum Industry: How does Oil explain Norwegian Public Expenditure and Social Spending? How vulnerable is it to shocks?
There are few people who deny that Norway's social welfare was achieved after Oil Discoveries. But there is concern about the sustainability of the Norwegian economy regarding the volatility of the Oil market. This study provides a quantitative analysis of the relationship between Central Government Expenditure and Oil exports plus vulnerabilities measured by Gold to Oil ratio, Exchange Rate V