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Overcoming Dividend Skepticism: Why the World’s Sovereign Wealth Funds are Not Paying Dividends

In: Exporting the Alaska Model

Author

Listed:
  • Angela Cummine

Abstract

Over 60 countries around the world possess a Sovereign Wealth Fund (SWF), yet only the Alaska Permanent Fund (APF) directly distributes profits to national citizens. The first volume of this series demonstrated the desirability of resource dividends practically (as a tool of socioeconomic/resource management policy) and philosophically (as a demand of justice), providing the theoretical justification for similar schemes in other resource-rich or SWF-possessing states. Curiously though, Alaska’s Permanent Fund Dividend (PFD) remains an isolated example of SWF dividend distribution. Despite more than two-thirds of the world’s sovereign funds being established since the year 2000, none have introduced a dividend scheme, nor is there any appetite within these organisations for such a move. On the contrary, the global sovereign fund community displays a near universal antidividend consensus.

Suggested Citation

  • Angela Cummine, 2012. "Overcoming Dividend Skepticism: Why the World’s Sovereign Wealth Funds are Not Paying Dividends," Exploring the Basic Income Guarantee, in: Karl Widerquist & Michael W. Howard (ed.), Exporting the Alaska Model, chapter 0, pages 33-49, Palgrave Macmillan.
    • Handle: RePEc:pal:etbchp:978-1-137-03165-5_3
    DOI: 10.1057/9781137031655_3
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    Cited by:

    1. Sanchez, Emerson M. & Lamchek, Jayson S., 2023. "Creating a sovereign wealth fund in a corruption-riddled country: Energizing transparency and sound governance with direct benefit-sharing," Resources Policy, Elsevier, vol. 81(C).

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