Holandská nemoc: případová studie Norska v období 2000–2023

This thesis focuses on a case study of the Norwegian economy between 2000 and 2023, and aims to find out whether and, if so, to what extent the symptoms of the Dutch Disease have manifested themselves in Norway during the period under study, and to make recommendations for economic policy beyond Norway. The phenomenon is associated with a sudden increase in financial income in the economy, stemming from the extraction of natural resources such as oil and gas, shortly after their discovery and long afterwards. Norway is chosen for this case study because of its model, which aims at a long-term stable economy and sustainable development. The thesis focuses on the evolution of key macroeconomic indicators such as economic diversification, investment, exchange rate, fiscal policy and dependence on natural resource exports, through which it is subsequently assessed whether Norway suffered from Dutch disease during the period under study. The theoretical part first explains the related concepts associated with this phenomenon and the practical part then uses the knowledge gained and the available data to evaluate the objectives of this thesis. As a result of the empirical part of the thesis, it is found that Norway has in some years exhibited manifestations of Dutch disease, such as increased dependence on fossil fuel exports. The Norwegian model, characterised by its sovereign wealth fund, has been able to reduce the negative effects of this phenomenon considerably. Taken as a whole, the paper provides insights into the Norwegian approach and offers possible inspiration for other countries that also have considerable natural resource wealth.