Structural change and economic policy: the Norwegian model under pressure

Abstract

During the 1950s and 1960s, a coherent system of economic policies was implemented in Norway. The article analyses the origins and functioning of this Norwegian model and shows how it broke down under the influence of both external and internal pressures from the mid-1970s onwards. By the early 1990s no new coherent system has been found, while financial deregulation has created huge problems in the banking system and unemployment persists.