The Coherence between Sovereign Wealth Funds and Fiscal and Monetary Policies: the Norwegian Case (2001-2017)

Year 2019, Volume: 3 Issue: 1, 39 - 87, 31.01.2019

Eszter Wırth

https://doi.org/10.25295/fsecon.2019.01.002

Abstract

This article seeks the link between the macroeconomic challenges faced by oil exporting economies and the use of public policies meant to mitigate the harmful effects of the dependence on hydrocarbon exports through the study of the Norwegian case. The main goal is to determine to what extent the coordination between the Norwegian sovereign wealth fund and countercyclical fiscal and monetary policies contributed to the mitigation of economic cycles triggered out by oil price volatility between 2001 and 2017.

Keywords

Sovereign Wealth Funds, Norway, Oil, Fiscal Policy, Monetary Policy

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