DOCSLIB.ORG

Sweden In-Depth Country Analysis

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Sweden In-Depth Country Analysis Sweden In-depth Country Analysis Work Project presented as part of requirements for the Award of the Management Masters Degree from NOVA – School of Business and Economics January 22nd 2020 SME Competitiveness and Internationalization Field Lab carried out under the academic supervision of: Professor Emanuel Gomes Professor Pedro Teixeira 25936 Matilde da Silva Conde Belo The threats associated with the six environments being analyzed are extremely low. Political, economic and legal factors are highly favorable for the refurbished smartphone industry. Moreover, consumer preferences, aligned with environmental and technological forces, represent the ideal environment for a company operating in the industry, aiming to follow a global strategy with Sweden as the target market. 5. In-Depth Country Analysis 1 2 3 4 5 6 7 8 9 5.3. Sweden In-depth country analysis: Country Overview Political Economic Social Sweden has a parliamentary representative democratic constitutional monarchy1. Sweden’s GDPpc is one of the highest in EU, 54,356$ in 2018, with a 1.8% growth.6 Current population of 10 063 308 inhabitants.11 Swedish last longing politically stable government of minorities have created a high Low inflation (1.7%) and long-lasting healthy banking system, except for 1990’s when the 87.9% of the population live in urban areas.11 economic performing country with open market policies, encouraging entrepreneurial country faced a severe financial crisis.7 Gini index of 25.70% in 2018.12 activities and large flows of investments.2 Highly competitive and diverse economy by being an export-oriented country with trade The country population present a high willingness for high technological and home Sweden is a member of EU and apart from EU single market and trade agreements for its surplus.8 connected devices.13 state members, the country does not include any other Free Trade Agreement on its The currency is the Swedish Krona with relatively low fluctuations in the market for the own. As an EU state member, with free trade of people, goods and services within the The school system is Sweden, despite national governmental directives and norms, is past couple of years.9 Schengen area is highly beneficial for exports/imports between Portugal and Sweden.3 highly decentralized.14 The country had an unemployment rate of 6.4% in 2018 and a labor force participation The Swedish average labor taxation is between 40-50%.4 However, the country can The typical Swedish consumer considers price followed by quality as the main purchasing rate of 69.20%.10 provide free healthcare and education for all EU citizens living in the country. For this decision factors. Other concerns are sellers’ know-how regarding product features and matter, county councils all over the country have shared responsibility to ensure these Although there are no minimum wages legislation, the country has a highly competitive after-sales services.15 rights, under a decentralized healthcare and education systems.5 labor market, with an average salary of 133.60 SEK/hour.10 Sweden has a high rational driven purchasing behavior, with 53% of Swedes searching for information, online, before buying.15 Technological Legal Environmental 72% of the Swedish population is considered to have ready access to any connected Alongside with EU directive on WEEE, the Swedish government is hardly trying to Swedish environmental protection policies are among the strongest ones in EU, allowing device.16 promote circular economies on consumer goods. No country specific legislation are Stockholm’s CO2 emissions per capita to be one of the lowest within OECD metro implemented regarding this matter. Studies have proven that, although there is a areas.22 The main digital leading companies in Sweden, within e-commerce in 2018 and 2019 are corporate tax rate decrease for companies with circular products, a Value Added Tax electronic goods, pharmaceutical and clothing companies. 17 Greenhouse gas emissions have been strongly decreasing in the past years, without decrease is necessary.20 compromising economic growth however, solid waste recycling treatment is considered Swedish e-commerce volume is expected to reach 50%-75% of country’s total consumer Sweden average wages are relatively high, increasing labor costs for refurbishment, and to not reach its full potential. 22 goods sales by 2035, mainly for electronics, clothing, shoes, books and furniture, similar VAT taxation between circular and primary markets, require low economic representing a market of 67 billion Swedish kronor in 2017.18 Government effort to combine technology and sustainability have led to the margins for resellers with the attempt of charging low prices to the consumer who is, development of the Eco-innovation Observatory. 23 Swedish internationally agreed information and communication technologies ranked 11 generally, high price sensitive in this industry. 20 in the ICT Development index in 2017.19 There are several Student Sustainability Associations among most universities in Sweden. Minimum warranty regulations, can improve consumer’s confidence in refurbished These student’s groups are responsible for promoting activities with strong smartphones. The country has a 3-year minimum warranty however, the Swedish environmental impacts as well as measure those results, are highly conscious and aware government allows producers to decrease this time frame if product’s lifetime 20 of sustainable brands and products (a country advantage Forall Phones could benefit expectancy is lower. This can be considered as a major advantage for refurbished 24 smartphone companies since their product offer has a lifetime expectancy of 12-24 from if Forall Family is leveraged to international markets). months.21 Sources: Available in References Section. 62 Although Forall Phones has no privileged contacts in the country, the company can benefit from Swedish agents, government agencies and associations, that are highly concerned in promoting a competitive and trade- oriented environment in the country. The government’s overall effort to help fostering the presence of international companies represents large opportunities for small enterprises with poor international experience and lack of Swedish market knowledge. 5. In-Depth Country Analysis 1 2 3 4 5 6 7 8 9 5.3. Sweden In-depth country analysis: Contacts Agents and Distributors1 Government Agencies and Embassies Associations and Organizations Allow Forall Phones to obtain market knowledge with low financial Students Sustainable Action Associations in most of risk and commitment. Some recommended agents and distributors The Portuguese Embassy in Sweden and the Swedish Embassy in Portugal, the the country’s universities. These associations are: that can represent a bridge between both markets. aim to create awareness for climate change and The Swedish Agent: Sales agent of global environmental issues, promoting second-hand goods usage and circular economy. brands in Sweden The Swedish International Chamber of Commerce2 , member of the largest business organization, aiming to develop and improve trade from and for Sweden. The main organizational focus has been ensuring sustainable 6 GlobalXtend Limited: specialist sales group business growth, while fostering environmental concerned activities/ Local Chambers of Commerce under the guidance focused on business development and business. of Swedish Chambers of Commerce Association. internationalization in Europe. The The local CCs are located in most Swedish counties company has highly trained Agents and and regions such as: partnerships with large distributors. Business Sweden3 is a Government agency responsible for fostering and • Stockholm Chamber of Commerce (CC) helping Swedish companies to expand internationally as well as foreign companies aiming to invest and establish their businesses in the country. • Ostsvenska CC Castpoint is a Norwegian company with • Wermland CC large operations in Sweden. The company is known for providing export companies • Jonkoping CC The Swedish Trade Organization4 has a strong focus on electronic with the market knowledge, resources and • Norrbotten CC agent contacts needed to successfully companies and aims to promote competitiveness for this sector in the export to Scandinavian countries. Swedish market by helping international companies to operate in the • West Sweden CC country. • Central Sweden CC ScandiConnet provides market entry strategies and consulting services for The Swedish Companies Registration Office5 is a governmental institution companies aiming to establish their designed to help international and domestic companies to start their Letters of Inquiry business in Nordic countries. The business. The agency provides guidance regarding legislation and Written in Swedish is preferred. However, according to English company’s know-how and variety of bureaucratic requirements to start a business in the country. industries expertise are considered a great Proficiency Index, Swedes are the worlds’ third non-native best English 7 asset for companies that require their speakers, with 86% of the population fluent in this language . services. Therefore, Letters of Inquiry written in English are also an acceptable possibility. Sources: 1. Global Trade.net; 2. Sweden International Chamber of Commerce website accessed at https://www.icc.se/icc-english; 3. Business Sweden website access at https://www.business-sweden.se/Export/; 4. Swedish Trade Organization website accessed at https://www.svenskhandel.se/; 5. Swedish
Load more

Recommended publications
  • Country Risk Analysis
    12/13/2019 COUNTRY RISK ANALYSIS Country Analysis • Active allocation strategy requires the forecast of changes in macroeconomic variables: currencies, interest rates, & stock markets. Key variable: Choice of a country (currency). But currency forecasting is difficult. • Q: How do we select a country? To help this process, economists monitor a large number of variables: - anticipated real growth (probably major influence on a national mkt.) - monetary and fiscal policy - wage and employment rigidities - social and political situations - competitiveness 1 12/13/2019 • Investment banks and consulting firms produce “Country Reports,” trying to summarize all the relevant information that an investor/firm needs to make an investment decision in a given country. • Country reports are brief and they give an investor an overall idea of the business, political, and economic climate. • This is the Class Project: Write a professional country report. Country Risk Definition: Country Risk Country risk (CR) is the risk attached to a borrower by virtue of its location in a particular country. Example: ConocoPhillips invested in Venezuela in the 1990s to help develop the Petrozuata, Hamaca and Coroco projects, it added an additional risks to its investment portfolio: Venezuelan country risk. Country Risk? In 2007, the Venezuelan government expropriated all ConocoPhillips investments without fair compensation. ¶ Note: CR is different than FX risk. CR risk can be zero and FX can be huge for a given country. The reverse, though unusual, can also happen. 2 12/13/2019 CR reflects the (potentially) negative impact of a country’s economic and political situation on an MNC’s or an investor’s cash flows.
    [Show full text]
  • E-RISC: a New Angle on Sovereign Credit Risk Job Number: DTI/1618/GE
    Phase 1 Report www.unep.org United Nations Environment Programme P. O. Box 30552 Nairobi, Kenya Tel.: 254 20 62 1234 Fax: 254 20 62 3927 E-mail: [email protected] A New Angle on Sovereign Credit Risk E-RISC: Environmental Risk Integration in Sovereign Credit Analysis United Nations Environment Programme Finance Initiative (UNEP FI) UNEP FI is a unique partnership between the United Nations Environment Programme (UNEP) and the global financial sector. UNEP FI works closely with over 200 financial institutions that are signatories to the UNEP FI Statement on Sustainable Development, and a range of partner organisations, to develop and promote linkages between sustainability and financial performance. Through peer-to-peer networks, research and training, UNEP FI carries out its mission to identify, promote and realise the adoption of best environmental and sustainability practice at all levels of financial institution operations. Global Footprint Network Global Footprint Network is an international think tank working to advance sustainability through the use of the Ecological Footprint, a resource accounting tool that measures how much nature we have, how much we use and who uses what. Global Footprint Network coordinates research, develops methodological standards and releases annual data on the Ecological Footprint and biocapacity of 232 countries and humanity as a whole. By providing robust resource accounts to track the supply of and demand on ecological assets, Global Footprint Network equips decision-makers with the data they need to succeed in a world facing tightening ecological constraints. Disclaimer Unless expressly stated otherwise, the opinions, findings, interpretations and conclusions expressed in the paper are those of the various contributors.
    [Show full text]
  • Country Risk and Macroeconomic Factors: Evidence from Asian Markets
    Country Risk and Macroeconomic Factors: Evidence from Asian Markets Rahul Verma University of Houston-Downtown Priti Verma Texas A&M University-Kingsville Using international version of capital asset pricing model (ICAPM), we analyze the response of country risk in Asia to a set of domestic and global macroeconomic factors. Specifically in a two-step process, we first estimate country beta models for Hong Kong, Indonesia, Malaysia, Philippines and Singapore and generate separate series of country risk variables for each market. In the second step we analyze the response of these country risks to five local factors and seven global factors. The local factors are: money supply, inflation, economic growth, interest rate and exchange rate while the international factors are: value of U.S. dollar against currencies of 15 industrialized countries, spread between 90-day Euro dollar deposit rate and 90 day U.S. Treasury Bill yield, weighted average inflation of G-7 countries, weighted average short term interest rates of G-7 countries, U.S. dollar price per barrel of crude oil, U.S. interest rate and U.S. inflation. The results indicate strong and significant effects of the global risk factors on country risk of all these Asian markets. The price of dollar has significant positive effects in all except in the case of Malaysia’s country risk. In addition, the dollar euro spread, real interest rates and inflation of G-7 countries have a significant negative impact on country beta in all the cases. On the other hand, exchange rate (in case of Malaysia and Singapore) and to some extent money supply (only in case of Hong Kong) are the only local factors, which have a significant effect on country risk of these markets.
    [Show full text]
  • Country Risk Model an Interactive Tool for Analysing Country and Sovereign Risk
    Country Risk Model An interactive tool for analysing country and sovereign risk Country Risk Model is a reliable, customisable model increasingly require the kind of country risk assessment designed to measure and compare risks across countries. provided by the Country Risk Model. An interactive tool, Country Risk Model allows you to • Banks use Country Risk Model to set or review their quantify the risk of cross-border transactions such as country credit limits. bank loans, trade finance, and investments in securities. • Asset managers use the model to assess risks to Country Risk Model is the model which our analysts use their global asset portfolio stemming from exposure to to rate the 120 countries covered in our Country Risk foreign governments, financial institutions, and currencies. Service. The model is an ideal tool for analysing country credit risk, as input into your in-house risk assessment • Treasury departments use the Model to understand and process, or as a check on your institution’s country assess- evaluate the risks of keeping cash and profits in a country. ments. The Model has been back-tested to 1997 and performs to a high standard in terms of predictive power. The EIU advantage Country Risk Model delivers robust and reliable support • Objectivity — As part of The Economist Group, we pride needed by asset managers and hedge funds interested in ourselves on our objectivity and independence: unlike the entering today’s emerging and rapidly changing markets. international ratings agencies we are not compensated by governments for our country ratings. • Constant vigilance — EIU analysts run our model and update our ratings regularly.
    [Show full text]
  • Moral Hazard and the Greek Bailout
    Moral Hazard and the Greek Bailout Effects on the risks of investing in the European market Nice Muhanzu Autumn 2011 Master Thesis, 30 ECTS Supervisor: Tomas Sjögren Umeå University Abstract This paper investigates whether the EMU-IMF loan package to Greece in May 2010 might have induced investor moral hazard in the European market. Bailouts, by implicitly insulating investors from losses, tend to alter their perception of risk. This usually leads to excessive lending and reckless risk-taking, than would have been the case without the insurance of being rescued. To detect such investor moral hazard, I regress EMU-countries’ spreads, controlling for changes in the countries' fundamentals. Instead of lowering spreads as a reflection of the lower danger of loss in the period after the Greek bailout, I find that spreads are strongly increasing. Further, the increase is larger for the member-states with weak fundamentals, notably Greece, Italy, Portugal, Spain, and Ireland. More so, contrary to traditional bailouts, which indirectly protect investors from losses, the Greek bailout did not let investors go scot free from the crisis. This is “the Greek paradox”- that a bailout, instead of reducing, appears to have increased the need for investors to concern themselves with borrowers’ creditworthiness. The Greek paradox suggests that the Greek bailout was the wake-up call, which made investors more aware of the risk of lending to countries with weak fundamentals. Thus, rather than confirming the existence of moral hazard after the bailout, my findings appear to indicate that investor moral hazard was present prior to the Greek crisis.
    [Show full text]
  • Sweden (Country Report)
    Country report SWEDEN Summary The strong economic recovery came to a sudden halt in 11Q4 due to the adverse spill over effects of the European debt crisis. The outlook for the Swedish economy is highly dependent on developments in the external environment (eurozone). That said, if needed, the country has ample space to stimulate domestic demand by both fiscal and monetary policy. Amid the strong fundamentals of both the public and the private sector we remain confident about the Swedish outlook. Things to watch: Reforms needed on the labor market to increase the low labor participation rate. Future development of elevated house prices. A high level of mortgage debt has increased vulnerability of banks and home owners. Author: Michiel Verduijn International Macro Economic Research Economic Research Department Rabobank Nederland Contact details: P.O.Box 17100, 3500 HG Utrecht, The Netherlands +31-(0)30-21-30522 [email protected] April 2012 Rabobank Economic Research Department Page: 1/4 Country report SWEDEN Sweden National facts Social and governance indicators rank / total Type of government Constitutional monarchy Human Development Index (rank) 10 / 187 Capital Stockholm Ease of Doing Business Index (rank) 14 / 183 Surface area (thousand sq km) 410.3 Index of Economic Freedom (rank) 21 / 179 Population (millions) 9.4 Corruption Perceptions Index (rank) 4 / 183 Main languages Swedish Press Freedom Index (rank) 12 / 178 Gini index (income distribution) 25.0 Main religions Lutheran (87%) Population below $1.25 per day (PPP) n.a. Other (13%) Foreign trade 2010 Head of State (president) King Carl XVI Gustaf Main export partners (%) Main import partners (%) Head of Government (prime-minister) Fredrik Reinfeldt Norway 11 Denmark 9 Monetary unit SEK Germany 10 Norway 9 UK 7 Germany 8 Economy 2011 Denmark 7 Netherlands 6 Economic size bn USD % world total Main export products (%) Nominal GDP 538 0.78 Machinery and transport equipment 38 Nominal GDP at PPP 391 0.50 Chemicals and related products, n.e.s.
    [Show full text]
  • UNDERSTANDING and QUANTIFYING COUNTRY RISK INTERNATIONAL COST of CAPITAL: UNDERSTANDING and QUANTIFYING COUNTRY RISK1 James Harrington and Carla Nunes
    03 INTERNATIONAL COST OF CAPITAL: UNDERSTANDING AND QUANTIFYING COUNTRY RISK INTERNATIONAL COST OF CAPITAL: UNDERSTANDING AND QUANTIFYING COUNTRY RISK1 James Harrington and Carla Nunes The cost of capital may be described in simple terms as the expected return appropriate for the expected level of risk.2 The cost of capital is also commonly called the discount rate, the expected return, or the required return.3 A basic insight of capital market theory, that expected return is a function of risk, still holds when dealing with cost of equity capital in a global environment. “Practitioners typically are confronted with this situation: “I know how to value a company in the United States, but this one is in Country X, a developing economy. What should I use for a discount rate?”4 Estimating an appropriate cost of capital (i.e., a discount rate) in developed countries, where a relative abundance of market data and comparable companies exist, requires a high degree of expertise. Estimating cost of capital in less-developed (i.e., “emerging”) countries can present an even greater challenge, primarily due to lack of data (or poor data quality) and the potential for magnified financial, economic, and political risks. “Measuring the impact of country risk is one of the most vexing issues in finance, particularly in emerging markets, where political and other country-specific risks can significantly change the dynamics of the project. It is absolutely essential to incorporate these risks into either the expected cash flows or the discount rate. While
    [Show full text]
  • Norway 'AAA/A-1+' Ratings Affirmed; Outlook Stable
    Research Update: Norway 'AAA/A-1+' Ratings Affirmed; Outlook Stable March 12, 2021 Overview PRIMARY CREDIT ANALYST - We expect the Norwegian economy will begin recovering in 2021, with real GDP growth of 3.2% Johanna Melinder in 2021, and averaging 2.5% over 2022-2024, on the back of a rebound in private consumption Stockholm and exports, supported by stronger oil prices. + 46 84 40 5926 johanna.melinder - The government is using its fiscal flexibility and large net asset position to limit COVID-19's @spglobal.com economic impact, and fiscal headroom remains very strong with sizable buffers. SECONDARY CONTACT - We are affirming our 'AAA/A-1+' long- and short-term ratings on Norway. Gabriel Forss - The outlook is stable. Stockholm + 46 84 40 5933 gabriel.forss @spglobal.com Rating Action ADDITIONAL CONTACT EMEA Sovereign and IPF On March 12, 2021, S&P Global Ratings affirmed its 'AAA/A-1+' long- and short-term sovereign SovereignIPF credit ratings on Norway. The outlook is stable. @spglobal.com Outlook The stable outlook reflects our view that Norway has ample headroom to withstand the adverse effects of the pandemic without a significant impact on its credit metrics. Norway has extremely strong fiscal and external net asset positions, which together with high wealth levels, strong institutions, and an effective monetary policy regime, support the rating. Downside scenario Our 'AAA' rating could come under pressure if the country's robust external and fiscal balance sheets eroded rapidly, combined with a significant weakening of institutions and governance standards, or a pronounced rise in geopolitical risk. We currently consider this unlikely, however.
    [Show full text]
  • EM-21.3 Investments
    EM-21.3 Category: Assets Topic: Investments Published: 1/26/2021 Overview The Investments topic provides guidance on evaluating investment quality, risk exposure, and management processes. Farm Credit System (System) institutions are authorized to invest in debt securities subject to certain limitations and requirements. Such investments can comprise a significant portion of an institution's assets, particularly at System banks, and impact capital and earnings. Examining investment quality begins by gaining a general understanding of investment portfolio characteristics, including portfolio size, composition, purposes, and impact on financial performance. The examination process continues with an assessment of risk exposures. Investments are primarily exposed to liquidity, market, credit, and country risks. These risks, which can vary widely among investments and asset classes, should be identified along with the impact of any risk concentrations. Institutions with investment activities must implement processes for effectively managing investments and related risks. The examination of investment management should include an assessment of board and management oversight, particularly investment policies, procedures, objectives, plans, and reporting processes. The examination should also assess risk measurement and management systems. Sufficient processes should exist to measure and manage the various risks in individual investments as well as the investment portfolio. Finally, the examination should determine if internal controls are sufficient to manage operational risk and ensure compliance with board and management direction as well as Farm Credit Administration (FCA) Regulations. Note: This section of the Examination Manual does not address equity investments such as investments in other System institutions, rural business investment companies (RBICs), unincorporated business entities (UBEs), and entities as part of troubled debt workouts.
    [Show full text]
  • Country Risk Management, Comptroller's Handbook
    Comptroller’s Handbook M-CRM Safety and Soundness Capital Asset Sensitivity to Other Adequacy Quality Management Earnings Liquidity Market Risk Activities (C) (A) (M) (E) (L) (S) (O) Country Risk Management February 2016 RESCINDED This document and any attachments are replaced by version 1.0 of the booklet of the same title published February 2016 Office of the Comptroller of the Currency Washington, DC 20219 Contents Introduction ..............................................................................................................................1 Overview ....................................................................................................................... 1 Risks Associated With International Activities ............................................................ 2 Credit Risk .............................................................................................................. 3 Interest Rate Risk .................................................................................................... 4 Liquidity Risk ......................................................................................................... 4 Price Risk ................................................................................................................ 5 Operational Risk ..................................................................................................... 5 Compliance Risk ..................................................................................................... 5 Strategic Risk .........................................................................................................
    [Show full text]
  • Prevailing Country Risk Classification
    Country Risk Classifications of the Participants to the Arrangement on Officially Supported Export Credits Valid as of: 25 June 2021 Classification Country Code Current nb Country Name (1) Previous Notes ISO Alpha 3 Prevailing 1 AFG Afghanistan 7 7 2 ALB Albania 5 5 3 DZA Algeria 5 5 4 AND Andorra - - (9) 5 AGO Angola 6 6 6 ATG Antigua and Barbuda 7 7 (8) 7 ARG Argentina 7 7 8 ARM Armenia 6 6 9 ABW Aruba 5 5 10 AUS Australia - - (6) 11 AUT Austria - - (6) (7) 12 AZE Azerbaijan 5 5 13 BHS Bahamas 4 4 14 BHR Bahrain 6 6 15 BGD Bangladesh 5 5 16 BRB Barbados - - (5) 17 BLR Belarus 6 6 18 BEL Belgium - - (6) (7) 19 BLZ Belize - - (5) 20 BEN Benin 6 6 (8) 21 BTN Bhutan 6 6 22 BOL Bolivia 5 5 23 BIH Bosnia and Herzegovina 7 7 24 BWA Botswana 3 3 25 BRA Brazil 5 5 26 BRN Brunei Darussalam - - (5) 27 BGR Bulgaria 3 3 28 BFA Burkina Faso 7 7 (8) 29 BDI Burundi 7 7 30 CPV Cabo Verde 6 6 31 KHM Cambodia 6 6 32 CMR Cameroon 6 6 (8) 33 CAN Canada - - (6) 34 CAF Central African Republic 7 7 (8) 35 TCD Chad 7 7 (8) 36 CHL Chile - - (6) 37 CHN China (People’s Republic of) 2 2 Page 1 - (25 June 2021) http://www.oecd.org/trade/topics/export-credits/arrangement-and-sector-understandings/financing-terms-and-conditions/country- risk-classification/ Country Risk Classifications of the Participants to the Arrangement on Officially Supported Export Credits Valid as of: 25 June 2021 Classification Country Code Current nb Country Name (1) Previous Notes ISO Alpha 3 Prevailing 38 COL Colombia 4 4 39 COM Comoros - - (5) 40 COG Congo 7 7 (8) 41 CRI Costa Rica 4 4
    [Show full text]
  • Norway (Country Report)
    Country report NORWAY Summary So far the effects of the European debt crisis on the Norwegian economy have been relatively modest, mostly due to robust growth of private consumption. Rising house prices boosted the domestic recovery but have also led to an increasing risk of overvaluation of house prices. The housing market should be a key policy area in the coming years. That said, from a risk perspective, the position of Norway remains very solid amid a financially extremely healthy public sector and a competitive private sector. Things to watch: Risk of overvaluation of the housing market Relatively high level of household (mortgage) debt Development of reform of the public early retirement scheme Author: Michiel Verduijn International Macro Economic Research Economic Research Department Rabobank Nederland Contact details: P.O.Box 17100, 3500 HG Utrecht, The Netherlands +31-(0)30-21-30522 [email protected] April 2012 Rabobank Economic Research Department Page: 1/5 Country report NORWAY Norway National facts Social and governance indicators rank / total Type of government Constitutional monarchy Human Development Index (rank) 1 / 187 Capital Oslo Ease of Doing Business Index (rank) 6 / 183 Surface area (thousand sq km) 304.3 Index of Economic Freedom (rank) 40 / 179 Population (millions) 4.9 Corruption Perceptions Index (rank) 6 / 183 Main languages Norwegian Press Freedom Index (rank) 1 / 178 Gini index (income distribution) 25.8 Main religions Church of Norway (85.7%) Population below $1.25 per day (PPP) n.a. Other Christian
    [Show full text]