Exporting the Alaska Model to Alaska: How Big Could the Permanent Fund Be if the State Really Tried? And Can a Larger Fund Insulate an Oil Exporter from the End of the Boom?

Karl Widerquist

Chapter Chapter 12 in Exporting the Alaska Model, 2012, pp 169-180 from Palgrave Macmillan

Abstract: Abstract If we think of the Alaska model as a resource-based or common-asset-based endowment capable of permanently funding a dividend and/or a significant portion of government spending, the combination of the Alaska Permanent Fund (APF) and Permanent Fund Dividend (PFD) embody this model, but only in a small way. Less than one-fifth of the state of Alaska’s oil revenue has gone into the APF; Alaska captures a much smaller portion of oil rents than many other oil-exporting nations; and Alaska has not attempted to build any kind of endowment out of most other common assets. Therefore, enormous potential exists to export the Alaska model not only abroad but also back to Alaska.

Keywords: State Budget; Resource Endowment; Resource Curse; Sovereign Wealth Fund; General Budget (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:pal:etbchp:978-1-137-03165-5_12

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DOI: 10.1057/9781137031655_12

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