Korreksjonen

Korreksjonen is a Norwegian term that translates to "the correction" or "the adjustment." It primarily refers to a significant stock market downturn that occurred in Norway during the late 1980s. This period of economic instability was characterized by a sharp decline in asset values, particularly in real estate and stocks.

The boom preceding Korreksjonen was fueled by deregulation and easy credit, leading to inflated asset prices. When the market turned, many businesses and individuals faced severe financial difficulties. The crisis had a profound impact on the Norwegian economy, leading to bankruptcies, increased unemployment, and a general sense of economic uncertainty. The government implemented various measures to stabilize the financial system and support affected industries.

Beyond its specific historical context, the term "Korreksjonen" can also be used more broadly in Norwegian to describe any significant correction or adjustment in financial markets or other areas where significant overvaluation or imbalance has occurred. It signifies a return to more sustainable levels after a period of excessive growth or speculation. The memory of this event continues to influence economic policy and financial regulation in Norway.