The Impact of Political Economy on Practices of Domestic SWFs
This literature review did not yield specific scholarly literature to connect the implications of the political economy and the governance of the existing SWFs in the United States. Instead, the literature emerged about the SWFs in the United States are perceived as the economic empowerment tools and framed as such to propose as the next big initiative to benefit the society (Bruenig, 2018).
The apolitical nature of the SWFs in the United States is further supported by the notion that the Alaska Permanent Fund, a successful SWF in the United States, was started as a bi-partisan economic development fund, founded by a conservative governor representing the Republican party (Widerquist & Howard, 2012).
In another instance, the $55.2 billion Texas Permanent School Fund (PSF) was started in 1854 with the appropriation of $2 million in land grant by the Texas Legislature, solely for the improvement of the public schools in the state of Texas (Texas State Teachers Association & Cooper, 1934).
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The Governance Structure of Domestic SWFs
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© 2013 by Jay Maharjan. All rights reserved.