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Tales and theories as levers of expert influence: A case study of the Norwegian Oil Fund

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  • Øvald, Camilla Bakken
  • Tranøy, Bent Sofus
  • Raknes, Ketil

Abstract

The power of economists in policymaking is widely recognized by both scholars and political actors. While the literature on expert influence has primarily focused on the intellectual features of expert arguments, we argue that economists’ strategic use of framing and normative reasoning wields more influence in policymaking than is acknowledged by current scholarship. Through a comprehensive investigation into the institutionalization of the Norwegian Oil Fund and its associated fiscal regime, drawing on 26 elite interviews with key political and technocratic actors, we unveil the considerable influence of state economists in shaping the policy for managing petroleum wealth. These economists not only played a crucial role in legitimizing and lending credibility to the new policy but also employed strategic framing as a reinforcing mechanism to sustain the policy regime, illustrating the essential role of economists as storytellers. Hence, we suggest including strategic framing as a conceptual element within the theoretical framework of expert influence.

Suggested Citation

  • Øvald, Camilla Bakken & Tranøy, Bent Sofus & Raknes, Ketil, 2024. "Tales and theories as levers of expert influence: A case study of the Norwegian Oil Fund," Journal of Public Policy, Cambridge University Press, vol. 44(3), pages 504-526, September.
    • Handle: RePEc:cup:jnlpup:v:44:y:2024:i:3:p:504-526_3
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