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Context and Contingency: Explaining State Ownership in Norway

Published online by Cambridge University Press:  06 April 2016

EINAR LIE*
Affiliation:
Einar Lie, Professor of Economic History, Department of Archaeology, Conservation, and History, University of Oslo. E-mail: [email protected].

Abstract

At the present time, the Norwegian state owns a large number of business enterprises. The state controls around 35 percent of the total values on the Oslo Stock Exchange, and five of the seven largest listed companies are partially owned by the state, ranging from 34 to 64 percent. This article traces the background of state ownership from the formative phase of state involvement in the modern economy, and it demonstrates how this ownership provided growth in state enterprises after 1945. The broad support for large state enterprises is explained by ongoing national, political, social, and economic contexts. There is a high level of trust in the state, which is perceived as a protector of common interests. Broad support is also based on the fact that there is a lack of private investors and a strong inclination to restrict foreign influence in the domestic economy.

Type
Articles
Copyright
Copyright © The Author 2016. Published by Cambridge University Press on behalf of the Business History Conference. All rights reserved. 

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References

Bibliography of Works Cited

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Asdal, Kristin. Politikkens natur–naturens politikk. Oslo: Universitetsforl, 2011.Google Scholar
Bergh, Trond. Storhetstid (1945–1965). Vol. 5. Oslo: Tiden, 1987.Google Scholar
Bouckaert, Geert, Van de Walle, Steven, Maddens, Bart, and Kampen, Jarl K.. Identity vs. Performance: An Overview of Theories Explaining Trust in Government. Leuven: Public Management Institute, (2002).Google Scholar
Chick, Martin. Governments, Industries, and Markets: Aspects of Government-Industry Relations in the UK, Japan, West Germany, and the USA Since 1945. London: Edward Elgar Publishers, 1990.Google Scholar
Chick, Martin. Industrial Policy in Britain 1945–1951: Economic Planning, Nationalisation and the Labour Governments. London: Cambridge University Press, 2002.Google Scholar
Christensen, Sverre A. Statens forhold til Norsk Hydro 1945–1952. Oslo: Universitetet i Oslo, 1997.Google Scholar
Eitrheim, Øyvind, and Einar, Lie. Noen riktig lange linjer: Statens inntekter, utgifter og gjeld. Oslo: Finansdepartementet, 2014.Google Scholar
Espeli, Harald. Industripolitikk på avveie: Motkonjunkturpolitikken og Norges industriforbunds rolle 1975–1980. Oslo: Ad Notam Gyldendal, 1992.Google Scholar
Foreman-Peck, James, and Federico, Giovanni. European Industrial Policy: The Twentieth-Century Experience. Vol. 1. Oxford: Oxford University Press, 1999.Google Scholar
Fukuyama, Francis. Political Order and Political Decay: From the Industrial Revolution to the Globalization of Democracy. London: Profile Books, 2014.Google Scholar
Gjestland, Dag. Storbedrift til et utkantdistrikt: En analyse av beslutningen om å etablere Årdal verk 1945–46. Oslo: Institutt for sosiologi, Universitetet i Oslo, 1973.Google Scholar
Grønlie, Tore. Jern og politikk. Bergen: Universitetsforlaget, 1973.Google Scholar
Grønlie, Tore. Statsdrift: Staten som industrieier i Norge 1945–1963. Oslo: TANO, 1989.Google Scholar
Grønlie, Tore, and Flo, Yngve. Den nye staten? Tiden etter 1980. Bergen: Fagbokforl, 2009.Google Scholar
Hall, Peter A., and Soskice, David. Varieties of Capitalism: The Institutional Foundations of Comparative Advantage. Oxford: Oxford University Press, 2001.Google Scholar
Hilson, Mary. The Nordic Model: Scandinavia Since 1945. London: Reaktion Books, 2008.Google Scholar
Hodne, Fritz. An Economic History of Norway, 1815–1970. Trondheim: Tapir, 1975.Google Scholar
Johannessen, Finn Erhard, Rønning, Asle, and Sandvik, Pål Thonstad. Nasjonal kontroll og industriell fornyelse: Hydro 1945–1977. Oslo: Pax, 2005.Google Scholar
Kaartvedt, Alf. Drømmen om borgerlig samling: Høyres historie. Oslo: Cappelen, 1984.Google Scholar
Klapp, Merrie Gilbert. The Sovereign Entrepreneur: Oil Policies in Advanced and Less Developed Capitalist Countries. Ithaca, NY: Cornell University Press, 1987.Google Scholar
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Lie, Einar. Oljerikdommer og internasjonal ekspansjon: Hydro 1977–2005. Vol. B. 3. Oslo: Pax, 2005.Google Scholar
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March, James G., and Olsen, Johan P.. Rediscovering Institutions. New York: Simon and Schuster, 2010.Google Scholar
Millward, Robert. Private and Public Enterprise in Europe: Energy, Telecommunications and Transport, 1830–1990. Cambridge: Cambridge University Press, 2005.Google Scholar
Moe, Thorvald G., Solheim, Jon A., and Vale, Bent. The Norwegian Banking Crisis. Oslo: Norges Bank, 2004.Google Scholar
Nordby, Trond. Venstre og samlingspolitikken 1906–1908: En studie i partioppløsning og gjenreisning. Oslo: Novus, 1983.Google Scholar
Parris, Henry, Pestieau, Pierre, and Saynor, Peter. Public Enterprise in Western Europe. London: Croom Helm, 1987.Google Scholar
Seip, Jens Arup. Utsikt over Norges historie. Oslo: Gyldendal Oslo, 1997.Google Scholar
Slagstad, Rune. De nasjonale strateger. Oslo: Pax forlag, 1998.Google Scholar
Teige, Ola. Korrupsjon i det norske og danske embetsverket etter 1814, edited by Eliassen, Finn-Einar, Frydenlund, Baard, Opsahl, Erik, and Østberg, Kai, Den Rianske Vending, 193208. Oslo: Novus forlag, 2014.Google Scholar
Thon, Sverre. Statsdrift i Norge og andre land: Omfang, former: Resultater, problemer. Oslo: Opplysningsinstituttet for fritt næringsliv, 1965.Google Scholar
Thue, Lars. Statens kraft 1890–1947: Kraftutbygging og samfunnsutvikling. Oslo: Cappelen, 1994.Google Scholar
Toninelli, Pier Angelo. The Rise and Fall of State-Owned Enterprise in the Western World. Vol. 1. Cambridge: Cambridge University Press, 2000.CrossRefGoogle Scholar
Vernon, Raymond, and Aharoni, Yair. State-Owned Enterprise in the Western Economies. London: Routledge, 2014.Google Scholar
Andersen, Sven S. “Politisk styring eller markedstilpasning av Olje-Norge.” In Den Fragmenterte staten: Reformer, makt og styring, edited by og Østerrud, Tranøy, 333365. Oslo: Gyldendal Akademisk, 2001.Google Scholar
Asdal, Kristin, and Moser, Ingunn. “Experiments in Context and Contexting.” Science, Technology & Human Values 37, no. 4 (2012): 291306.Google Scholar
Bowler, Shaun, and Karp, Jeffrey A.. “Politicians, Scandals, and Trust in Government.” Political Behavior 26, no. 3 (2004): 271287.CrossRefGoogle Scholar
Christensen, Tom, and Lægreid, Per. “Trust in Government: The Relative Importance of Service Satisfaction, Political Factors, and Demography.” Public Performance & Management Review 28, no. 4 (2005): 487511.Google Scholar
Grønlie, Tore. “Norsk industripolitikk 1945–65.” In Vekst og velstand: Norsk politisk historie 1945–1965, edited by Bergh, Trond and Pharo, Helge Ø., 99166. Oslo: Universitetsforlaget, 1977.Google Scholar
Hovland, Edgar, and Nordvik, Helge Wallum. “Det industrielle gjennombrudd i Norge 1840–1914 med samtidens og ettertidens øyne.” In I det lange løp: Essays i økonomisk historie tilegnet Fritz Hodne, Bergen, edited by Basberg, Bjørn L., Norvik, Helge W., and Stang, Gudmund, 6185. Bergen: Fagbokforlaget, 1997.Google Scholar
Jones, Jeffrey M. Record High in U.S. Say Big Government Greatest Threat. www.gallup.com/poll/166535/record-high-say-big-government-greatest-threat.aspx.Google Scholar
Kjær, Knut. “The Norwegian Petroleum Fund.” In Public Pension Fund Management. Governance, Accountability, and Investment Policies: Proceedings of the Second Public Pension Fund Management Conference, May 2003, edited by Musalem, A. R. and Palacio, R. J., 241258. Washington, DC: World Bank, 2004.Google Scholar
Lange, Even. “The Concession Laws of 1906–09 and Norwegian Industrial Development.” Scandinavian Journal of History 2, no. 1–4 (1977): 311330.Google Scholar
Lie, Einar. “Market Power and Market Failure: The Decline of the European Fertilizer Industry and the Expansion of Norsk Hydro.” Enterprise and Society 9, no. 1 (2008): 7095.CrossRefGoogle Scholar
Lipartito, Kenneth. “Connecting the Cultural and the Material in Business History.” Enterprise and Society 14, no. 4 (2013): 686704.Google Scholar
Millward, Robert. “Business and the State.” In Oxford Handbook of Business History, edited by Jones, Geoffrey and Zeitlin, Jonathan, Oxford, Oxford University Press: 529557. 2008.Google Scholar
Pettersen, Per Arnt, Jenssen, Anders Todal, and Listhaug, Ola. “The 1994 EU Referendum in Norway: Continuity and Change.” Scandinavian Political Studies 19, no. 3 (1996): 257281.Google Scholar
Ryggvik, Helge. “A Short History of the Norwegian Oil Industry: From Protected National Champions to Internationally Competitive Multinationals.” Business History Review 89, no. 1 (2015): 341.Google Scholar
Sejersted, Francis. “Demokrati og rettstat. Et perspektiv på 1800-tallets politiske brytninger.” In Demokrati og rettstat, edited by Sejersted, Francis, 153199. Oslo: Pax Forlag, 2001.Google Scholar
Sejersted, Francis. “Den norske Sonderweg.” In Demokratisk kapitalisme, edited by Sejersted, Francis, 311351. Oslo: Pax, 2002.Google Scholar
Spohr Readman, Kristina. “Contemporary History in Europe: From Mastering National Pasts to the Future of Writing the World.” Journal of Contemporary History, 46, no. 3 (2011): 506530.Google Scholar
St.R. No 75. “Report to the Storting No. 75 (1963–64).”Google Scholar
Valen, Henry. “National Conflict Structure and Foreign Politics: The Impact of the EEC Issue on Perceived Cleavages in Nowegian Politics.” European Journal of Political Research 4, no. 1 (1976): 4782.Google Scholar
Van de Walle, Steven, Van Roosbroek, Steven, and Bouckaert, Geert. “Trust in the Public Sector: Is There Any Evidence for a Long-Term Decline?” International Review of Administrative Sciences 74, no. 1 (2008): 4764.Google Scholar
Bankkrisekommisjonen. “Dokument nr 17 (1997–98) Rapport til Stortinget fra kommisjonen som ble nedsattav Stortinget for å gjennomgå ulike årsaksforhold knyttet til bankkrisen.” Oslo: Stortinget, 1998.Google Scholar
Næringsdepartementet. “Meld. St. 27 (2013–2014)–Et mangfoldig og verdiskapende eierskap.” Oslo: insert publisher, 2014.Google Scholar
Næringsdepartementet. “St.meld. nr. 13 (2006–2007)–Et aktivt og langsiktig eierskap.” Oslo: insert publisher, 2006.Google Scholar
Næringsdepartementet. “St.meld. nr. 22 (2001–2002)–Et mindre og bedre statlig eierskap.” Oslo: insert publisher, 2001.Google Scholar
Recommendation to the Storting no. 198 (2000–2001) Recommendation from the Standing Committee on Energy and the Environment concerning Ownership in Statoil and the Future Management of the State’s Direct Financial Interest.Google Scholar
Sirnes, Espen. “Samme avkastning for statlige selskaper og indeks.” http://espensirnes.blogspot.no/2014/07/samme-avkastning-for-statlige-selskaper.html, 2014.Google Scholar
Dagens Næringsliv Google Scholar
Aharoni, Yair. The Evolution and Management of State-Owned Enterprises. Cambridge: Ballinger, 1986.Google Scholar
Allen, Hilary. Norway and Europe in the 1970s: Olso: Universitetsforlaget, 1979.Google Scholar
Andersen, Ketil Gjølme. Flaggskip i fremmed eie: Hydro 1905–1945. Vol. B. 1. Oslo: Pax, 2005.Google Scholar
Asdal, Kristin. Politikkens natur–naturens politikk. Oslo: Universitetsforl, 2011.Google Scholar
Bergh, Trond. Storhetstid (1945–1965). Vol. 5. Oslo: Tiden, 1987.Google Scholar
Bouckaert, Geert, Van de Walle, Steven, Maddens, Bart, and Kampen, Jarl K.. Identity vs. Performance: An Overview of Theories Explaining Trust in Government. Leuven: Public Management Institute, (2002).Google Scholar
Chick, Martin. Governments, Industries, and Markets: Aspects of Government-Industry Relations in the UK, Japan, West Germany, and the USA Since 1945. London: Edward Elgar Publishers, 1990.Google Scholar
Chick, Martin. Industrial Policy in Britain 1945–1951: Economic Planning, Nationalisation and the Labour Governments. London: Cambridge University Press, 2002.Google Scholar
Christensen, Sverre A. Statens forhold til Norsk Hydro 1945–1952. Oslo: Universitetet i Oslo, 1997.Google Scholar
Eitrheim, Øyvind, and Einar, Lie. Noen riktig lange linjer: Statens inntekter, utgifter og gjeld. Oslo: Finansdepartementet, 2014.Google Scholar
Espeli, Harald. Industripolitikk på avveie: Motkonjunkturpolitikken og Norges industriforbunds rolle 1975–1980. Oslo: Ad Notam Gyldendal, 1992.Google Scholar
Foreman-Peck, James, and Federico, Giovanni. European Industrial Policy: The Twentieth-Century Experience. Vol. 1. Oxford: Oxford University Press, 1999.Google Scholar
Fukuyama, Francis. Political Order and Political Decay: From the Industrial Revolution to the Globalization of Democracy. London: Profile Books, 2014.Google Scholar
Gjestland, Dag. Storbedrift til et utkantdistrikt: En analyse av beslutningen om å etablere Årdal verk 1945–46. Oslo: Institutt for sosiologi, Universitetet i Oslo, 1973.Google Scholar
Grønlie, Tore. Jern og politikk. Bergen: Universitetsforlaget, 1973.Google Scholar
Grønlie, Tore. Statsdrift: Staten som industrieier i Norge 1945–1963. Oslo: TANO, 1989.Google Scholar
Grønlie, Tore, and Flo, Yngve. Den nye staten? Tiden etter 1980. Bergen: Fagbokforl, 2009.Google Scholar
Hall, Peter A., and Soskice, David. Varieties of Capitalism: The Institutional Foundations of Comparative Advantage. Oxford: Oxford University Press, 2001.Google Scholar
Hilson, Mary. The Nordic Model: Scandinavia Since 1945. London: Reaktion Books, 2008.Google Scholar
Hodne, Fritz. An Economic History of Norway, 1815–1970. Trondheim: Tapir, 1975.Google Scholar
Johannessen, Finn Erhard, Rønning, Asle, and Sandvik, Pål Thonstad. Nasjonal kontroll og industriell fornyelse: Hydro 1945–1977. Oslo: Pax, 2005.Google Scholar
Kaartvedt, Alf. Drømmen om borgerlig samling: Høyres historie. Oslo: Cappelen, 1984.Google Scholar
Klapp, Merrie Gilbert. The Sovereign Entrepreneur: Oil Policies in Advanced and Less Developed Capitalist Countries. Ithaca, NY: Cornell University Press, 1987.Google Scholar
Lange, Even. Samling om felles mål: 1935–1970. Vol. B. 11. Oslo: Aschehoug, 1998.Google Scholar
Lie, Einar. Oljerikdommer og internasjonal ekspansjon: Hydro 1977–2005. Vol. B. 3. Oslo: Pax, 2005.Google Scholar
Lie, Einar, Myklebust, Egil, and Norvik, Harald. Staten som kapitalist: Rikdom og eierskap for det 21. århundret. Oslo: Pax forlag, 2014.Google Scholar
Lie, Einar, and Venneslan, Christian. Over evne: Finansdepartementet 1965–1992: Oslo: Pax forlag, 2010.Google Scholar
March, James G., and Olsen, Johan P.. Rediscovering Institutions. New York: Simon and Schuster, 2010.Google Scholar
Millward, Robert. Private and Public Enterprise in Europe: Energy, Telecommunications and Transport, 1830–1990. Cambridge: Cambridge University Press, 2005.Google Scholar
Moe, Thorvald G., Solheim, Jon A., and Vale, Bent. The Norwegian Banking Crisis. Oslo: Norges Bank, 2004.Google Scholar
Nordby, Trond. Venstre og samlingspolitikken 1906–1908: En studie i partioppløsning og gjenreisning. Oslo: Novus, 1983.Google Scholar
Parris, Henry, Pestieau, Pierre, and Saynor, Peter. Public Enterprise in Western Europe. London: Croom Helm, 1987.Google Scholar
Seip, Jens Arup. Utsikt over Norges historie. Oslo: Gyldendal Oslo, 1997.Google Scholar
Slagstad, Rune. De nasjonale strateger. Oslo: Pax forlag, 1998.Google Scholar
Teige, Ola. Korrupsjon i det norske og danske embetsverket etter 1814, edited by Eliassen, Finn-Einar, Frydenlund, Baard, Opsahl, Erik, and Østberg, Kai, Den Rianske Vending, 193208. Oslo: Novus forlag, 2014.Google Scholar
Thon, Sverre. Statsdrift i Norge og andre land: Omfang, former: Resultater, problemer. Oslo: Opplysningsinstituttet for fritt næringsliv, 1965.Google Scholar
Thue, Lars. Statens kraft 1890–1947: Kraftutbygging og samfunnsutvikling. Oslo: Cappelen, 1994.Google Scholar
Toninelli, Pier Angelo. The Rise and Fall of State-Owned Enterprise in the Western World. Vol. 1. Cambridge: Cambridge University Press, 2000.CrossRefGoogle Scholar
Vernon, Raymond, and Aharoni, Yair. State-Owned Enterprise in the Western Economies. London: Routledge, 2014.Google Scholar
Andersen, Sven S. “Politisk styring eller markedstilpasning av Olje-Norge.” In Den Fragmenterte staten: Reformer, makt og styring, edited by og Østerrud, Tranøy, 333365. Oslo: Gyldendal Akademisk, 2001.Google Scholar
Asdal, Kristin, and Moser, Ingunn. “Experiments in Context and Contexting.” Science, Technology & Human Values 37, no. 4 (2012): 291306.Google Scholar
Bowler, Shaun, and Karp, Jeffrey A.. “Politicians, Scandals, and Trust in Government.” Political Behavior 26, no. 3 (2004): 271287.CrossRefGoogle Scholar
Christensen, Tom, and Lægreid, Per. “Trust in Government: The Relative Importance of Service Satisfaction, Political Factors, and Demography.” Public Performance & Management Review 28, no. 4 (2005): 487511.Google Scholar
Grønlie, Tore. “Norsk industripolitikk 1945–65.” In Vekst og velstand: Norsk politisk historie 1945–1965, edited by Bergh, Trond and Pharo, Helge Ø., 99166. Oslo: Universitetsforlaget, 1977.Google Scholar
Hovland, Edgar, and Nordvik, Helge Wallum. “Det industrielle gjennombrudd i Norge 1840–1914 med samtidens og ettertidens øyne.” In I det lange løp: Essays i økonomisk historie tilegnet Fritz Hodne, Bergen, edited by Basberg, Bjørn L., Norvik, Helge W., and Stang, Gudmund, 6185. Bergen: Fagbokforlaget, 1997.Google Scholar
Jones, Jeffrey M. Record High in U.S. Say Big Government Greatest Threat. www.gallup.com/poll/166535/record-high-say-big-government-greatest-threat.aspx.Google Scholar
Kjær, Knut. “The Norwegian Petroleum Fund.” In Public Pension Fund Management. Governance, Accountability, and Investment Policies: Proceedings of the Second Public Pension Fund Management Conference, May 2003, edited by Musalem, A. R. and Palacio, R. J., 241258. Washington, DC: World Bank, 2004.Google Scholar
Lange, Even. “The Concession Laws of 1906–09 and Norwegian Industrial Development.” Scandinavian Journal of History 2, no. 1–4 (1977): 311330.Google Scholar
Lie, Einar. “Market Power and Market Failure: The Decline of the European Fertilizer Industry and the Expansion of Norsk Hydro.” Enterprise and Society 9, no. 1 (2008): 7095.CrossRefGoogle Scholar
Lipartito, Kenneth. “Connecting the Cultural and the Material in Business History.” Enterprise and Society 14, no. 4 (2013): 686704.Google Scholar
Millward, Robert. “Business and the State.” In Oxford Handbook of Business History, edited by Jones, Geoffrey and Zeitlin, Jonathan, Oxford, Oxford University Press: 529557. 2008.Google Scholar
Pettersen, Per Arnt, Jenssen, Anders Todal, and Listhaug, Ola. “The 1994 EU Referendum in Norway: Continuity and Change.” Scandinavian Political Studies 19, no. 3 (1996): 257281.Google Scholar
Ryggvik, Helge. “A Short History of the Norwegian Oil Industry: From Protected National Champions to Internationally Competitive Multinationals.” Business History Review 89, no. 1 (2015): 341.Google Scholar
Sejersted, Francis. “Demokrati og rettstat. Et perspektiv på 1800-tallets politiske brytninger.” In Demokrati og rettstat, edited by Sejersted, Francis, 153199. Oslo: Pax Forlag, 2001.Google Scholar
Sejersted, Francis. “Den norske Sonderweg.” In Demokratisk kapitalisme, edited by Sejersted, Francis, 311351. Oslo: Pax, 2002.Google Scholar
Spohr Readman, Kristina. “Contemporary History in Europe: From Mastering National Pasts to the Future of Writing the World.” Journal of Contemporary History, 46, no. 3 (2011): 506530.Google Scholar
St.R. No 75. “Report to the Storting No. 75 (1963–64).”Google Scholar
Valen, Henry. “National Conflict Structure and Foreign Politics: The Impact of the EEC Issue on Perceived Cleavages in Nowegian Politics.” European Journal of Political Research 4, no. 1 (1976): 4782.Google Scholar
Van de Walle, Steven, Van Roosbroek, Steven, and Bouckaert, Geert. “Trust in the Public Sector: Is There Any Evidence for a Long-Term Decline?” International Review of Administrative Sciences 74, no. 1 (2008): 4764.Google Scholar
Bankkrisekommisjonen. “Dokument nr 17 (1997–98) Rapport til Stortinget fra kommisjonen som ble nedsattav Stortinget for å gjennomgå ulike årsaksforhold knyttet til bankkrisen.” Oslo: Stortinget, 1998.Google Scholar
Næringsdepartementet. “Meld. St. 27 (2013–2014)–Et mangfoldig og verdiskapende eierskap.” Oslo: insert publisher, 2014.Google Scholar
Næringsdepartementet. “St.meld. nr. 13 (2006–2007)–Et aktivt og langsiktig eierskap.” Oslo: insert publisher, 2006.Google Scholar
Næringsdepartementet. “St.meld. nr. 22 (2001–2002)–Et mindre og bedre statlig eierskap.” Oslo: insert publisher, 2001.Google Scholar
Recommendation to the Storting no. 198 (2000–2001) Recommendation from the Standing Committee on Energy and the Environment concerning Ownership in Statoil and the Future Management of the State’s Direct Financial Interest.Google Scholar
Sirnes, Espen. “Samme avkastning for statlige selskaper og indeks.” http://espensirnes.blogspot.no/2014/07/samme-avkastning-for-statlige-selskaper.html, 2014.Google Scholar
Dagens Næringsliv Google Scholar