General Information About Norway
Total Page:16
File Type:pdf, Size:1020Kb
Load more
Recommended publications
-
What Decides the Exchange Rate? Theory – and Predictions of the Norwegian Krone Against the Euro
Archives of Business Research – Vol.6, No.6 Publication Date: June. 25, 2018 DOI: 10.14738/abr.66.4827. Vale, P. H. (2018). What Decides the Exchange Rate? Theory – and Predictions of the Norwegian Krone against the Euro. Archives of Business Research, 6(6), 353-365. What Decides the Exchange Rate? Theory – and Predictions of the Norwegian Krone against the Euro Per Halvor Vale Norwegian University of Life Sciences, SChool of EConomiCs and Business ABSTRACT The paper analyses changes in the exchange rate of the Norwegian krone (NOK) as measured against the Euro, with the purpose of forecasting future exchange rates. The analysis is based on an error correction model. The model is given an autoregressive form. From the model is derived “out-of-sample forecast”. The predictions are compared with forecasts obtained from a Random Walk model. The empirical findings show that even though the economic model identifies several important explanatory variables, the Random Walk model performs better. Kewords: ExChange rate, equilibrium exChange rate, out-of-sample foreCasts JEL classification: C22C32, C53, F31 INTRODUCTION It is important for deCision-makers in eConomiC seCtor to have a Clear idea as to the Causes of fluctuations in the exchange rate. This paper analyses variations and shifts in the exchange rate of the Norwegian CurrenCy measured against the euro. The purpose is to understand the driving forCes and make prediCtions about likely Changes in future exChange rates. To test the viability of the model we blank out some of the sample data and make “out-of-sample foreCasts”. The foreCast model is Challenged by a Random Walk model (RW). -
The Place of National Park and Ecotourism in Norway
The place of National Park and ecotourism in Norway Elena D. Karlsen 1 Table of contents Abstract............................................................................................................................................3 Introduction .................................................................................................................................... 4 Goals and method............................................................................................................................5 Motivation, consumer habits, and the behavior of ecotourists: ecotourism destinations in Norway’s national parks and nature preserves.................................................................................6 Conceptualizing Ecotourism............................................................................................................7 Norwegian attitudes about nature and national parks......................................................................8 Conflicts that arise in the process of tourism development and some solutions...........................10 Benefits of ecotourism for Norway................................................................................................11 Commercializing nature.................................................................................................................12 Profit..............................................................................................................................................14 Facilities and transport...................................................................................................................15 -
Saami and Scandinavians in the Viking
Jurij K. Kusmenko Sámi and Scandinavians in the Viking Age Introduction Though we do not know exactly when Scandinavians and Sámi contact started, it is clear that in the time of the formation of the Scandinavian heathen culture and of the Scandinavian languages the Scandinavians and the Sámi were neighbors. Archeologists and historians continue to argue about the place of the original southern boarder of the Sámi on the Scandinavian peninsula and about the place of the most narrow cultural contact, but nobody doubts that the cultural contact between the Sámi and the Scandinavians before and during the Viking Age was very close. Such close contact could not but have left traces in the Sámi culture and in the Sámi languages. This influence concerned not only material culture but even folklore and religion, especially in the area of the Southern Sámi. We find here even names of gods borrowed from the Scandinavian tradition. Swedish and Norwegian missionaries mentioned such Southern Sámi gods such as Radien (cf. norw., sw. rå, rådare) , Veralden Olmai (<Veraldar goð, Frey), Ruona (Rana) (< Rán), Horagalles (< Þórkarl), Ruotta (Rota). In Lule Sámi we find no Scandinavian gods but Scandinavian names of gods such as Storjunkare (big ruler) and Lilljunkare (small ruler). In the Sámi languages we find about three thousand loan words from the Scandinavian languages and many of them were borrowed in the common Scandinavian period (550-1050), that is before and during the Viking Age (Qvigstad 1893; Sammallahti 1998, 128-129). The known Swedish Lapponist Wiklund said in 1898 »[...] Lapska innehåller nämligen en mycket stor mängd låneord från de nordiska språken, av vilka låneord de äldsta ovillkorligen måste vara lånade redan i urnordisk tid, dvs under tiden före ca 700 år efter Kristus. -
The Krone Exchange Rate and Competitiveness in the Business Sector
Svein Gjedrem: The krone exchange rate and competitiveness in the business sector Address by Mr Svein Gjedrem, Governor of Norges Bank (Central Bank of Norway), to the Federation of Norwegian Process Industries, Oslo, 29 April 2004. The text below may differ slightly from the actual presentation. The address is based on the assessments presented at Norges Bank’s press conference following the Executive Board’s monetary policy meeting on 21 April, Inflation Report 1/04 and on previous speeches. The charts can be found on the Norges Bank’s website. * * * The primary objective of monetary policy is to ensure nominal stability. There were wide fluctuations in the Norwegian economy in the 1970s and 1980s. Economic developments were marked by high and variable inflation. Inflation rose gradually and it took a long time before it fell. The absence of a nominal anchor was one of the main reasons behind these pronounced swings in the Norwegian economy. With a policy of low interest rates and devaluations, inflation took root. Nominal interest rates were kept at a low level even though inflation and the value of tax-deductible interest expenditure rose. Frequent devaluations from 1976 were not able to prevent a decline in the manufacturing sector. On the contrary, they proved to be self-reinforcing. The wide fluctuations culminated in a credit boom in the mid-1980s, and a rise in costs as a consequence of the spring 1986 wage settlement. A pronounced downturn and high unemployment followed at the end of the 1980s. In order to achieve nominal stability, monetary policy must provide a nominal anchor. -
Svein Gjedrem: Monetary Policy from a Historical Perspective (Central
Svein Gjedrem: Monetary policy from a historical perspective Speech by Mr Svein Gjedrem, Governor of Norges Bank (Central Bank of Norway), at the conference to mark the 100th anniversary of the Association of Norwegian Economists, Oslo, 16 September 2008. The text may differ slightly from the actual presentation. * * * Introduction Let me begin by offering my congratulations to the Association of Norwegian Economists on its 100th anniversary. One hundred is a respectable age. In Norway, the introduction of a university degree in economics was certainly an important stimulus in the first part of the last century. In the period since the Second World War, major changes in society have increased the demand for expertise in the field of economics. And economists are constantly gaining new insights. This also applies to the field of central banking, even though one of the fundamental central bank responsibilities – to safeguard the value of money – was as important 100 years ago as it is today. Monetary policy in Norway has changed considerably over the past 100 years. The government, with the support of the Storting, has now defined an objective for monetary policy of low and stable inflation. Norges Bank sets its interest rate with a view to achieving price stability. This has not always been the case. Monetary policy in Norway Norges Bank was established in 1816 and was placed directly under the Storting (Norwegian parliament). The government had no control or influence. The Bank was authorised to issue banknotes that were to serve as legal tender. To ensure stability in the value of money, the banknotes were to be redeemable in silver, although this was not achieved until 1842. -
To What Extent Can Movements in the Krone Exchange Rate Be Explained by the Interest Rate Differential?
Chapter 6 – To what extent can movements in the krone exchange rate be explained by the interest rate differential? Arne Kloster, Raymond Lokshall and Øistein Røisland This article analyses, within the framework of uncovered interest parity, the extent to which movements in the krone exchange rate since November 2001 can be ascribed to the interest rate differential. We find that changes in the interest rate differential can explain some of the movements in the exchange rate, but that other factors have also played a role. Among other things, it appears that the risk premium on investments in Norwegian krone was reduced through the same period that the Norwegian krone appreciated. 1. Background The Norwegian krone strengthened considerably from the start of 2001, but then weakened again slightly. In this period, exchange rate movements have largely coincided with changes in the interest rate differential, see Chart 1. It may therefore seem obvious to conclude that movements in the krone exchange rate can to a large extent by explained by the interest rate differential. However, the fact that changes in the krone exchange rate have coincided with the trend in the interest rate differential in qualitative terms does not necessarily mean that the interest rate differential can explain the extent of these changes. In order to examine how much of the ex- change rate movements can be ascribed to the increase in the interest rate differential alone, we have divided the period into two sub-periods: 1) 1 November 2001 to 4 November 2002, and 2) 4 November 2002 to 27 March 2003. -
The Nordic Countries Nordic Countries
Study in the Nordic countries Nordic Countries Government: Constitutional Monarchy Capital: Copenhagen Population: 5,6 mill. Currency: Danish krone Government: Constitutional Monarchy Capital: Stocholm Population: 9,5 mill. Currency: Swedish krona Government: Parliamentery republic Capital: Helsinki Population: 5,4 mill. Currency: Euro Government: Constitutional Monarchy Capital: Oslo Population: 5 mill. Currency: Norwegian krone 2 Nordic Countries About the inbound program xplorius is excited to offer international students high school programs where they can Eexperience the life and culture of the Nordic countries - Denmark, Sweden, Norway and Finland. Away from the more traditional exchange destinations students that attend this program will experience truly unique traditions, languages and ways of life. Even though most of the Nordic countries all have areas close to the Nort Pole there are big differences between them as well as even within them. They all have one thing in common though - they offer experiences that cannot be found anywhere else! Services included Application review and process Host family placement in volunteer family School placement Airport pick up at arrival in host country Welcome package including essential information Visa and registration assistance (excluding fees) Guidance and support by Local Coordinator 24-hour emergency support Regular status reports to sending organization Placements ll placements in host families and high schools are done by representatives of Explorius Educa- Ation. All schools are state schools that accept the students with no tuition charge. The families are volunteer families that are eager to share their homes, culture and traditions with an interna- tional student. All families are visited and interviewed by Explorius Education representatives that are fully supported by their central offices in each country. -
Cultural Sensitivity and Tourism Report from Northern Norway
Cultural sensitivity and tourism Report from Northern Norway CAMILLA BRATTLAND KARI JÆGER KJELL OLSEN ELLE MARI DUNFJELL OSKAL ARVID VIKEN 1 Culturally sensitive tourism in the Arctic sensitive tourism Culturally ARCTISEN Multidimensional Tourism Institute (MTI) Rovaniemi www.luc.f/matkailu Design: Lappi Design / Tytti Mäenpää ISBN 978-952-337-207-8 2 3 Publications of the Multidimensional Tourism Institute Matkailualan tutkimus- ja koulutusinstituutin julkaisuja Cultural sensitivity and tourism Report from Northern Norway CAMILLA BRATTLAND KARI JÆGER KJELL OLSEN ELLE MARI DUNFJELL OSKAL ARVID VIKEN Rovaniemi 2020 3 ARCTISEN Promoting culturally sensitive tourism across the Arctic Main result: Improved entrepreneurial business environment for culturally sensitive tourism Culturally sensitive tourism in the Arctic sensitive tourism Culturally that will be achieved by improving and increasing transnational contacts, networks and cooperation among different businesses and organizations. Improvement of business environment will also result in concrete products and services, locally and transnationally designed, that support the capacities of start-ups and SMEs to develop ARCTISEN sustainable, competitive and attractive tourism businesses drawing on place-based opportunities. Funder: Northern Periphery and Arctic Programme Partners: University of Lapland (Lead Partner), Finland UiT The Arctic University of Norway Northern Norway Tourist Board Umeå University, Sweden Ájtte - Mountain and Sámi museum, Sweden Aalborg University, Denmark University -
Ski Touring in the Narvik Region
SKI TOURING IN THE NARVIK REGION TOP 5 © Mattias Fredriksson © Mattias Narvik is a town of 14 000 people situated in Nordland county in northern Norway, close to the Lofoten islands. It is also a region that serves as an excellent base for alpine ski touring and off-piste skiing. Here, you are surrounded by fjords, islands, deep valleys, pristine lakes, waterfalls, glaciers and mountain plateaus. But, first and foremost, wild and rugged mountains in seemingly endless terrain. Imagine standing on one of those Arctic peaks admiring the view just before you cruise down on your skis to the fjord side. WHY SKI TOURING IN THE NARVIK REGION? • A great variety in mountain landscapes, from the fjords in coastal Norway to the high mountain plateaus in Swedish Lapland. • Close to 100 high quality ski touring peaks within a one- hour drive from Narvik city centre. • Large climate variations within short distances, which improves the chances of finding good snow and weather. • A ski touring season that stretches from the polar night with its northern lights, to the late spring with never- ending days under the midnight sun. • Ascents and descents up to 1700 metres in vertical distance. • Some of the best chute skiing in the world, including 1200-metre descents straight down to the fjord. • Possibilities to do train accessed ski touring. • A comprehensive system of huts that can be used for hut-to-hut ski touring or as base camps. • 5 alpine skiing resorts within a one-hour car drive or train ride • The most recognised heli-skiing enterprise in Scandinavia, offering access to over 200 summits. -
A History of German-Scandinavian Relations
A History of German – Scandinavian Relations A History of German-Scandinavian Relations By Raimund Wolfert A History of German – Scandinavian Relations Raimund Wolfert 2 A History of German – Scandinavian Relations Table of contents 1. The Rise and Fall of the Hanseatic League.............................................................5 2. The Thirty Years’ War............................................................................................11 3. Prussia en route to becoming a Great Power........................................................15 4. After the Napoleonic Wars.....................................................................................18 5. The German Empire..............................................................................................23 6. The Interwar Period...............................................................................................29 7. The Aftermath of War............................................................................................33 First version 12/2006 2 A History of German – Scandinavian Relations This essay contemplates the history of German-Scandinavian relations from the Hanseatic period through to the present day, focussing upon the Berlin- Brandenburg region and the northeastern part of Germany that lies to the south of the Baltic Sea. A geographic area whose topography has been shaped by the great Scandinavian glacier of the Vistula ice age from 20000 BC to 13 000 BC will thus be reflected upon. According to the linguistic usage of the term -
• Size • Location • Capital • Geography
Denmark - Officially- Kingdom of Denmark - In Danish- Kongeriget Danmark Size Denmark is approximately 43,069 square kilometers or 16,629 square miles. Denmark consists of a peninsula, Jutland, that extends from Germany northward as well as around 406 islands surrounding the mainland. Some of the larger islands are Fyn, Lolland, Sjælland, Falster, Langeland, MØn, and Bornholm. Its size is comparable to the states of Massachusetts and Connecticut combined. Location Denmark’s exact location is the 56°14’ N. latitude and 8°30’ E. longitude at a central point. It is mostly bordered by water and is considered to be the central point of sea going trade between eastern and western Europe. If standing on the Jutland peninsula and headed in the specific direction these are the bodies of water or countries that would be met. North: Skagettak, Norway West: North Sea, United Kingdom South: Germany East: Kattegat, Sweden Most of the islands governed by Denmark are close in proximity except Bornholm. This island is located in the Baltic Sea south of Sweden and north of Poland. Capital The capital city of Denmark is Copenhagan. In Danish it is Københaun. It is located on the Island of Sjælland. Latitude of the capital is 55°43’ N. and longitude is 12°27’ E. Geography Terrain: Denmark is basically flat land that averages around 30 meters, 100 feet, above sea level. Its highest elevation is Yding SkovhØj that is 173 meters, 586 feet, above sea level. This point is located in the central range of the Jutland peninsula. Page 1 of 8 Coastline: The 406 islands that make up part of Denmark allow for a great amount of coastline. -
Nordic Foreign and Security Policy 2020
Proposals / Nordic Foreign and Security Policy 2020 NORDIC FOREIGN AND SECURITY POLICY 2020 Climate Change, Hybrid & Cyber Threats and Challenges to the Multilateral, Rules-Based World Order Proposals, July 2020 Björn Bjarnason 1 Nordic Foreign and Security Policy 2020 / Proposals INTRODUCTION On 2 December 2019, the Icelandic Minister for US outlook on the Nordic foreign and security Foreign Affairs, on behalf of the Nordic Foreign situation. We met with Nordic politicians, Ministers, tasked me to write a report on Nordic diplomats, experts, and academics in the fields Foreign and Security Policy in the same spirit of international relations, politics, climate as the one Thorvald Stoltenberg delivered in change as well as both civil and military security. February 2009. My work took into account the In short, in all our discussions, in over 80 establishment of Nordic Defence Cooperation meetings, we sensed great and sincere interest (NORDEFCO) in November 2009. in strengthening Nordic cooperation in the field of foreign and security policy. The mandate stipulated three tasks: • addressing global climate change It was of special value to visit research institutes • addressing hybrid threats and cyber issues in the Nordic capitals. These included the • strengthening and reforming multilateralism Norwegian Institute of International Affairs and the rules-based international order. (NUPI) and the Peace Research Institute in Oslo (PRIO), the Swedish Defence Research An Addendum to the report includes the Agency (FOI), the Stockholm International