ABSTRACT
Until the 1990s, the Nordic countries were for a long time known for their economic success and well-developed welfare states. The specific Nordic way of striking a balance between different economic, social and political interests - known as the Nordic model - was a frequent theme in political debate and scientific analysis (Katzenstein, 1985; Mjôset, 1986; Erikson et al., 1987). The resource base of the countries and the way the export sectors were linked to the rest of the economy were also occasionally highlighted. The fact that the Nordic countries had been able to develop a competitive, export-oriented economy on a rather narrow base of natural resources, without losing control over their development or without serious social divisions occurring, was seen as an extraordinary achievement (Senghaas, 1985, pp. 86-94).
