Some Taiwanese economists refer to Taiwan's economy model as party-state capitalism. The government of Norway has ownership stakes in many of the country's largest publicly listed companies, owning 37% of the Oslo stockmarket and operates the country's largest non-listed companies including Statoil and Statkraft. The government also operates a sovereign wealth fund, the Government Pension Fund of Norway, whose partial objective is to prepare Norway for a post-oil future. Modern Norwegian state capitalism has its origins in public ownership of the country's oil reserves and in the country's post-World War II social democratic reforms. Singapore's government owns controlling shares in many government-linked companies and directs investment through sovereign wealth funds, an arrangement commonly cited as state capitalism. Singapore has attracted some of the world's most powerful corporations through business friendly legislation and through the encouragement of Western style corporatism, with close cooperation between the state and corporations. Singapore's large holdings of government-linked companies and the state's close cooperation with business are defining aspects of Singapore's economic model.