2018
DOI: 10.1057/s41294-018-0071-7
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The Norwegian Oil Bonanza and the Scandinavian Model in Comparative Perspective

Abstract: This paper aims at highlighting the effects of large natural resource endowments on the institutions of the so-called Scandinavian or Nordic model, through a comparative quantitative case study. Focusing on two key features of the Scandinavian model, namely (I) low income inequality and (II) high welfare spending, this study presents evidence on the shocks to these features for Norway after the country became one of the world's largest oil exporters. A synthetic control unit constructed by weighting Nordic cou… Show more

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Cited by 4 publications
(6 citation statements)
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References 22 publications
(23 reference statements)
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“…Norwegian society up until the 1970s was mainly a fishing and farming society, and the prevailing environmental ideology was that nature was a resource to be exploited at will, even if being managed (Iacono 2019). There is a strong political will to keep the remote areas of the country populated, and agriculture, for example, aquafarming, is subsidized to sustain these rural communities.…”
Section: Internal and External Tensionsmentioning
confidence: 99%
See 1 more Smart Citation
“…Norwegian society up until the 1970s was mainly a fishing and farming society, and the prevailing environmental ideology was that nature was a resource to be exploited at will, even if being managed (Iacono 2019). There is a strong political will to keep the remote areas of the country populated, and agriculture, for example, aquafarming, is subsidized to sustain these rural communities.…”
Section: Internal and External Tensionsmentioning
confidence: 99%
“…8 Norway was and is still one of the world's largest exporters of fish and is the largest exporter of aquafarmed salmon (Solvoll et al 2020). And while today Norway's economy is dominated by its oil industry (Iacono 2019), the environmentally harmful aquafarming industry is also important economically.…”
Section: Internal and External Tensionsmentioning
confidence: 99%
“…The natural resource windfalls in Norway, an oil-endowed nation, have rewarded the populace there at levels comparable to the benefits accruing to citizens of the GCC oil nations (Bank et al , 2014). The resource revenues create educational benefits for the citizens and internationalization benefits for the firms (Iacono, 2019), which must look outward for market growth.…”
Section: Background and Theorymentioning
confidence: 99%
“…The natural resource windfalls in Norway, an oil-endowed nation, have rewarded the populace there at levels comparable to the benefits accruing to citizens of the GCC oil nations (Bank et al, 2014). The resource revenues create educational benefits for the citizens and internationalization benefits for the firms (Iacono, 2019), which must look outward for market growth. For a small country or economyor for any firm aspiring to global markets or rapidly realizing it is already on a global stagethe cultivation of multiculturalism becomes more compelling.…”
Section: Institutional and Economic Foundations Of Multiculturalism I...mentioning
confidence: 99%
“…One of the key obstacles to attracting highly skilled migrants to Norway is the country's high taxes (Iacono 2019). To address this issue, several stakeholders lobbied for tax breaks for highly skilled migrants.…”
Section: Incentives To Attract Highly Skilled Migrantsmentioning
confidence: 99%