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The Political Economy of Natural Resource FundsThe Alaska Permanent Fund and the Alberta Heritage Savings Trust Fund: Divergent Paths, Divergent Outcomes

The Political Economy of Natural Resource Funds: The Alaska Permanent Fund and the Alberta... [In 1976, in the aftermath of the OPEC-induced oil boom, the Alaska Permanent Fund (APF) and the Alberta Heritage Savings Trust Fund (AHSTF) were created, with much promise. Yet, though the APF can be said to have fulfilled much of its promise, the AHSTF can be said to have failed. Why is this the case? This chapter discusses the impact of politics, constitutional structure, history, and political culture on how the AHSTF and APF were created, structured, and performed. Politics, for example, influenced almost everything about the AHSTF, resulting in a fund that never lived up to its promise. The APF was able to insulate itself, to a certain extent, from politics by creating, at arms’ length, the Alaska Permanent Fund Corporation. In addition, constitutional structures, whether presidential, parliamentary, or federal, have left their marks on each fund.] http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png

The Political Economy of Natural Resource FundsThe Alaska Permanent Fund and the Alberta Heritage Savings Trust Fund: Divergent Paths, Divergent Outcomes

Part of the International Political Economy Series Book Series
Editors: Okpanachi, Eyene; Chowdhari Tremblay, Reeta
Smith, Peter J.
The Political Economy of Natural Resource Funds — Aug 14, 2021
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21 pages

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Publisher
Springer International Publishing
Copyright
© The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Switzerland AG 2021
ISBN
978-3-030-78250-4
Pages
15 –36
DOI
10.1007/978-3-030-78251-1_2
Publisher site
See Chapter on Publisher Site

Abstract

[In 1976, in the aftermath of the OPEC-induced oil boom, the Alaska Permanent Fund (APF) and the Alberta Heritage Savings Trust Fund (AHSTF) were created, with much promise. Yet, though the APF can be said to have fulfilled much of its promise, the AHSTF can be said to have failed. Why is this the case? This chapter discusses the impact of politics, constitutional structure, history, and political culture on how the AHSTF and APF were created, structured, and performed. Politics, for example, influenced almost everything about the AHSTF, resulting in a fund that never lived up to its promise. The APF was able to insulate itself, to a certain extent, from politics by creating, at arms’ length, the Alaska Permanent Fund Corporation. In addition, constitutional structures, whether presidential, parliamentary, or federal, have left their marks on each fund.]

Published: Aug 14, 2021

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