"The Evolution of Instruments of Scientific and Technological Policy in the Oil and Gas Sector of Norway"

The main aim in this paper is to analyze the effectiveness of the instruments of scientific and technological policy (hereinafter - STP) of the Norwegian oil and gas sector in the long term. During the analysis of the development of the Norwegian oil and gas sector, several phases (time periods) of the sector's formation were identified. Each phase contained a specific set of STP tools. In respect that each phase of development lasts several years, in order to evaluate the effectiveness of the instruments used, it is necessary to analyze dynamic data in order to take into account the moment of implementation of the instrument, as well as the results from its use. Taking into account the world experience of works related to the evaluation of the effectiveness of various instruments of scientific and technological policy, an econometric analysis of the panel data on Norwegian companies was made. The analysis examined the long-term impact of various instruments of Norwagian science and technology policy on the company's internal costs on R&D.