Investment Strategies for Northern Cash Windfalls: Learning from the Alaskan Experience
The Alaska Native Claims Settlement Act (1971) and the creation of the Alaska Permanent Fund (1976) provided Native and non-Native Alaskans with two means of trust capital investment. To date Native Alaskans have largely chosen a strategy of investment in local established and/or new businesses, whi...
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ftunivcalgaryojs:oai:journalhosting.ucalgary.ca:article/64719 2023-05-15T14:19:13+02:00 Investment Strategies for Northern Cash Windfalls: Learning from the Alaskan Experience Robinson, Michael Pretes, Michael Wuttunee, Wanda 1989-01-01 application/pdf https://journalhosting.ucalgary.ca/index.php/arctic/article/view/64719 eng eng The Arctic Institute of North America https://journalhosting.ucalgary.ca/index.php/arctic/article/view/64719/48633 https://journalhosting.ucalgary.ca/index.php/arctic/article/view/64719 ARCTIC; Vol. 42 No. 3 (1989): September: 189–298; 265-276 1923-1245 0004-0843 Alaska Native Claims Settlement Act 1971 Alaska Permanent Fund Corporation Businesses Economic conditions Economic development Economic policy Government Native development corporations Native land claims Native peoples Natural resources Risk assessment Sustainable economic development Alaska Canadian Arctic info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion research-article 1989 ftunivcalgaryojs 2022-03-22T21:21:53Z The Alaska Native Claims Settlement Act (1971) and the creation of the Alaska Permanent Fund (1976) provided Native and non-Native Alaskans with two means of trust capital investment. To date Native Alaskans have largely chosen a strategy of investment in local established and/or new businesses, while the Permanent Fund has pursued a portfolio management strategy. Both investment means were examined against their stated ends (for the former: profit, social responsibility and cultural preservation; for the latter: savings, profit, and dividend distribution). It is concluded that business risk investment in an isolated and remote northern state characterized by economic reliance on externally controlled business cycles is inherently risky and that a strategy of international portfolio management has paid far superior dividends. Given that the current situation in the Canadian North (two Northern Accord agreements-in-principle and the Dene/Metis and Yukon Comprehensive Land Claim agreements-in-principle achieved in 1988) parallels the situation in Alaska in the 1970s, the authors propose a strategy for the creation of a model developmental natural resource trust fund based on the best features of the Alaskan models. This model fund combines a portfolio management trust philosophy with the goal of sustainable economic development in the quest for northern fiscal autonomy.Key words: Alaska Native Claims Settlement Act, Alaska Permanent Fund, resource management, Native people, economic development, sustainable development, trust funds, investment, Native land claims Mots clés: Alaska Native Claims Settlement Act, Alaska Permanent Fund, gestion de ressources, autochtones, développement économique développement durable, fonds de placement, investissement, revendications territoriales des autochtones Article in Journal/Newspaper Arctic Arctic Metis Alaska Yukon University of Calgary Journal Hosting Arctic Yukon ARCTIC 42 3 |
institution |
Open Polar |
collection |
University of Calgary Journal Hosting |
op_collection_id |
ftunivcalgaryojs |
language |
English |
topic |
Alaska Native Claims Settlement Act 1971 Alaska Permanent Fund Corporation Businesses Economic conditions Economic development Economic policy Government Native development corporations Native land claims Native peoples Natural resources Risk assessment Sustainable economic development Alaska Canadian Arctic |
spellingShingle |
Alaska Native Claims Settlement Act 1971 Alaska Permanent Fund Corporation Businesses Economic conditions Economic development Economic policy Government Native development corporations Native land claims Native peoples Natural resources Risk assessment Sustainable economic development Alaska Canadian Arctic Robinson, Michael Pretes, Michael Wuttunee, Wanda Investment Strategies for Northern Cash Windfalls: Learning from the Alaskan Experience |
topic_facet |
Alaska Native Claims Settlement Act 1971 Alaska Permanent Fund Corporation Businesses Economic conditions Economic development Economic policy Government Native development corporations Native land claims Native peoples Natural resources Risk assessment Sustainable economic development Alaska Canadian Arctic |
description |
The Alaska Native Claims Settlement Act (1971) and the creation of the Alaska Permanent Fund (1976) provided Native and non-Native Alaskans with two means of trust capital investment. To date Native Alaskans have largely chosen a strategy of investment in local established and/or new businesses, while the Permanent Fund has pursued a portfolio management strategy. Both investment means were examined against their stated ends (for the former: profit, social responsibility and cultural preservation; for the latter: savings, profit, and dividend distribution). It is concluded that business risk investment in an isolated and remote northern state characterized by economic reliance on externally controlled business cycles is inherently risky and that a strategy of international portfolio management has paid far superior dividends. Given that the current situation in the Canadian North (two Northern Accord agreements-in-principle and the Dene/Metis and Yukon Comprehensive Land Claim agreements-in-principle achieved in 1988) parallels the situation in Alaska in the 1970s, the authors propose a strategy for the creation of a model developmental natural resource trust fund based on the best features of the Alaskan models. This model fund combines a portfolio management trust philosophy with the goal of sustainable economic development in the quest for northern fiscal autonomy.Key words: Alaska Native Claims Settlement Act, Alaska Permanent Fund, resource management, Native people, economic development, sustainable development, trust funds, investment, Native land claims Mots clés: Alaska Native Claims Settlement Act, Alaska Permanent Fund, gestion de ressources, autochtones, développement économique développement durable, fonds de placement, investissement, revendications territoriales des autochtones |
format |
Article in Journal/Newspaper |
author |
Robinson, Michael Pretes, Michael Wuttunee, Wanda |
author_facet |
Robinson, Michael Pretes, Michael Wuttunee, Wanda |
author_sort |
Robinson, Michael |
title |
Investment Strategies for Northern Cash Windfalls: Learning from the Alaskan Experience |
title_short |
Investment Strategies for Northern Cash Windfalls: Learning from the Alaskan Experience |
title_full |
Investment Strategies for Northern Cash Windfalls: Learning from the Alaskan Experience |
title_fullStr |
Investment Strategies for Northern Cash Windfalls: Learning from the Alaskan Experience |
title_full_unstemmed |
Investment Strategies for Northern Cash Windfalls: Learning from the Alaskan Experience |
title_sort |
investment strategies for northern cash windfalls: learning from the alaskan experience |
publisher |
The Arctic Institute of North America |
publishDate |
1989 |
url |
https://journalhosting.ucalgary.ca/index.php/arctic/article/view/64719 |
geographic |
Arctic Yukon |
geographic_facet |
Arctic Yukon |
genre |
Arctic Arctic Metis Alaska Yukon |
genre_facet |
Arctic Arctic Metis Alaska Yukon |
op_source |
ARCTIC; Vol. 42 No. 3 (1989): September: 189–298; 265-276 1923-1245 0004-0843 |
op_relation |
https://journalhosting.ucalgary.ca/index.php/arctic/article/view/64719/48633 https://journalhosting.ucalgary.ca/index.php/arctic/article/view/64719 |
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ARCTIC |
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42 |
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3 |
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