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The Political Economy of Natural Resource FundsA Less Than Sovereign Wealth Fund: Norway’s Government Pension Fund, Global

The Political Economy of Natural Resource Funds: A Less Than Sovereign Wealth Fund: Norway’s... [This chapter examines the creation of the world’s largest sovereign wealth fund: Norway’s Government Pension Fund, Global (GPFG). Although the GPFG is often held up as an example of a highly autonomous, expert-driven, apolitical investment engine, its history tells a very different story. Norwegian elected officials have frequently ignored expert advice to ensure that the Fund would reflect Norwegian values, contribute to stabilize the Norwegian economy, and deliver a healthy return for future generations. This chapter describes the evolution of the GPFG in four parts, beginning with the origins of the GPFG and then describing the subsequent establishment and evolution of the Fund. The third part of the chapter reflects on how these sundry political struggles contributed to the Fund’s phenomenal successes, and the fourth part provides a conclusion.] http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png

The Political Economy of Natural Resource FundsA Less Than Sovereign Wealth Fund: Norway’s Government Pension Fund, Global

Part of the International Political Economy Series Book Series
Editors: Okpanachi, Eyene; Chowdhari Tremblay, Reeta
Moses, Jonathon W.
The Political Economy of Natural Resource Funds — Aug 14, 2021
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Publisher
Springer International Publishing
Copyright
© The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Switzerland AG 2021
ISBN
978-3-030-78250-4
Pages
181 –206
DOI
10.1007/978-3-030-78251-1_8
Publisher site
See Chapter on Publisher Site

Abstract

[This chapter examines the creation of the world’s largest sovereign wealth fund: Norway’s Government Pension Fund, Global (GPFG). Although the GPFG is often held up as an example of a highly autonomous, expert-driven, apolitical investment engine, its history tells a very different story. Norwegian elected officials have frequently ignored expert advice to ensure that the Fund would reflect Norwegian values, contribute to stabilize the Norwegian economy, and deliver a healthy return for future generations. This chapter describes the evolution of the GPFG in four parts, beginning with the origins of the GPFG and then describing the subsequent establishment and evolution of the Fund. The third part of the chapter reflects on how these sundry political struggles contributed to the Fund’s phenomenal successes, and the fourth part provides a conclusion.]

Published: Aug 14, 2021

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