Flexible Adjustment: 1971–86

Jonathon W. Moses
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Jonathon W. Moses: University of Trondheim

Chapter 6 in OPEN States in the Global Economy, 2000, pp 123-158 from Palgrave Macmillan

Abstract: Abstract In the early 1970s, the Norwegian economic policy arsenal was again rocked by changes in the international economy. Two concomitant (and interrelated) developments worked to provoke changes in the Norwegian regime of the previous period: technological and market developments which facilitated the international mobility of finance capital, and the collapse of the Bretton Woods, fixed exchange rate, system. These new conditions problematized Norway’s reliance on autonomous interest rate policies, and undermined the firm external anchor with which wage policies had traditionally been secured.

Keywords: Exchange Rate; Interest Rate; Industrial Policy; Nominal Interest Rate; Foreign Exchange Market (search for similar items in EconPapers)
Date: 2000
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-333-97785-9_6

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DOI: 10.1057/9780333977859_6

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