The Dynamics of the Norwegian Maritime Industry

Abstract: What are the dynamics of the Norwegian maritime industry that have allowed Norway to be top competitor in the world maritime industry? Dynamics such as history, innovation, clusters, and institutions are visited through a multidisciplinary approach in order to provide a complete picture of Norway’s maritime industry. Furthermore, the Norwegian maritime industry has one world’s highest cost of labor and a strong regulatory regime, yet the industry is the third largest in the world. The thesis aims to provide insights into how and why Norway has become a world maritime leader. It is hypothesized that because of high wages and strong regulatory system in Norway there is an intensive “creative destruction” process creating incentives to innovate; hence, leading to economic growth in the Norwegian maritime industry.