National sovereignty and economic policy. The case of Island

Abstract

Until 1944 Iceland was a Danish dependency. In that year the Icelandic parliament, the Althing, declared its independence. In 1904 the Danish King had granted the island limited home rule, and in 1918 it became an autonomous state within the Danish monarchy. During the period 1904–44 the Icelandic ministers and the Althing could, after consultation with the Danish government, formulate Icelandic economic policy in accordance with world economic development and the position of the economy within the international division of labour. During the forty years of independence since 1944 economic policy has been planned and implemented by the domestic democratic institutions. The world economic and political scenario, as well as that of Iceland, has, however, changed.

Additional information

Notes on contributors

Birgir BjöRn SigurjóNsson

This manuscript has been developed with assistance from a number of colleagues and friends. Lars Mjöset and Stewart P. Oakley are mentioned particularly. This study was supported by the Nordic Economic Research Council and NOS-S.