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Incentive Structures and State Regulations of the Norwegian Economy

In: Industrial Collaboration in Nazi-Occupied Europe

Author

Listed:
  • Harald Espeli

Abstract

On 15 April 1940, six days after the German invasion of Norway, the Administrative Council (Administrasjonsrådet) was set up in Oslo. After negotiations between the German authorities and self-appointed Norwegian representatives, the Council replaced Vidkun Quisling’s coup d’état government from the evening of 9 April. The Nygaardsvold government and the royal family had fled from Oslo on the morning of 9 April and in June they went into exile in London, continuing the war as Britain’s ally. The Council’s future was dependent on close cooperation with the Germans on economic and administrative matters. On 24 April, the Council instructed Norges Bank (The Norwegian Central Bank) to give the Wehrmacht a blank cheque to finance its occupation costs in Norway. The Germans eventually withdrew around 11 billion NOK—nominally more than twice Norway’s GDP in 1938—on the Norges Bank’s occupation account until May 1945, of which 8 billion NOK was financed through note printing.

Suggested Citation

  • Harald Espeli, 2016. "Incentive Structures and State Regulations of the Norwegian Economy," Palgrave Studies in Economic History, in: Hans Otto Frøland & Mats Ingulstad & Jonas Scherner (ed.), Industrial Collaboration in Nazi-Occupied Europe, chapter 10, pages 245-271, Palgrave Macmillan.
    • Handle: RePEc:pal:palscp:978-1-137-53423-1_10
    DOI: 10.1057/978-1-137-53423-1_10
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