Boom and bust: Is Stavanger becoming the New Detroit? - A comparative empirical analysis of a cornerstone economy
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The purpose of this thesis is to examine whether Stavanger Region are showing indications of being on the same path as Detroit. An Error Correction Model is estimated on two datasets concerning Stavanger Region and Detroit. Each dataset consists of employment as the dependent variable and other macroeconomic variables. The model distinguishes between short - term and long - term dynamics. The sample period is 1999 - 2013 and 2003 - 2014 regarding Stavanger Region and Detroit respectively. The oil and gas industry in Stavanger Region and the automobile industry in Detroit are both vital in terms of regional economic growth.
Master's thesis in Economic analysis