Norges Bank 1816-2016

Abstract

This book traces the 200-year history of Norges Bank, which was established in 1816 with a dual purpose: to bring order and stability to the chaotic monetary system following the Napoleonic wars and provide Norway with a bank. The present Norges Bank is a modern well-functioning central bank, with strong likenesses to similar institutions in other countries. This book is particularly concerned with the relations between the bank and the political institutions. The bank’s role has been shaped and reshaped by perceptions of what kind of financial services Norway needed, how economic policy was coordinated, and how discretionary power was distributed between the elected bodies, the executive branch, and underlying institutions with a defined mandate. The central aim of this book is to trace and explain these changes over the past two centuries. It is also, to some extent, a contribution to the relatively broad literature on the history of national central banks.

The Norwegian Petroleum Fund: Savings for Future Generations?

“…25 1973-74). In the 1970s, there was a political consensus that Norway should adhere to a moderate pace of extraction of petroleum resources (Lie et al 2016). There were no explicit references to sustainable development, but the entire report…”

“…as of 2009), which lead to majority decisions in parliament. This article is neither meant to be a historical analysis of the fund, nor does it include assessments of the fund in Norwegian society (see Lie 2012;Lie et al 2016;Overland 2018). I concentrate on public documents dealing with the fund.…”

Oljefondet – i solidaritet med fremtidigegenerasjoner

“…Etter hvert som inntektene fra petroleumsaktiviteten økte, hadde presset på å bruke pengene over statsbudsjettet tiltatt. Handlingsregelen har dermed blitt en viktig retorisk ressurs, hevder Einar Lie (2012: 179;2015). Med handlingsregelen, skriver Lie, opprettet politikerne et moralsk anker som var knyttet til hensynet til fremtidige generasjoner.…”

Losing autonomy: the Norwegian central bank during the Second World War

“…This is mentioned by both Norges Bank's report on its activities in Oslo, and in Jahn, Eriksen, and Munthe, Norges Bank , and Lie et al., Norges Bank .…”

“…This contribution is based on extensive archival research in Norges Bank's and the Ministry of Finance London and Oslo archives, as well as diaries and correspondence from actors involved. Parts of the material are presented in Lie et al., Norges Bank , written for a Norwegian audience. Prior to this book, the London‐based archives of Norges Bank and the Ministry of Finances had not been examined by previous researchers, with three minor exceptions.…”