The Norwegian Petroleum Fund as Institutionalized Self-Restraint
| Autor: | Bent Sofus Tranøy, Camilla Bakken Øvald, Ketil Raknes |
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| Rok vydání: | 2019 |
| Předmět: | |
| Zdroj: | Great Policy Successes ISBN: 0198843712 Great Policy Successes |
| DOI: | 10.1093/oso/9780198843719.003.0013 |
| Popis: | In economies abundant with natural resources, public leadership tends to lessen public value, diminishing assets that could benefit the population at large. The Norwegian macro-economic regime, balancing current spending with long-term interests, compares favourably to most other cases of large resource-driven income streams. While Norway had the institutional capability to reform, this policy is also an example of successful public leadership creating large public and social value. This chapter explores the role of public leadership in establishing the Petroleum Fund, and the relationship between political and administrative leadership. It finds that deft political leadership was vital in the three main government decisions that shaped Norwegian economic policy. In fact, the role of heroic leadership in the Fund’s history was larger than expected, although the key factor was a series of constructive interactions between political leaders and astute public managers. |
| Databáze: | OpenAIRE |
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