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

Angela Cummine

Chapter Chapter 3 in Exporting the Alaska Model, 2012, pp 33-49 from Palgrave Macmillan

Abstract: 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.

Keywords: Pension Fund; Hedge Fund; Dividend Payment; Sovereign Wealth Fund; Dividend Scheme (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_3

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DOI: 10.1057/9781137031655_3

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