Debate on the question of who should receive the surplus revenuegenerated by natural-resource exploitation -- Ottawa or the provinces-- is usually carried on in terms of history, politics custom, law,social values, and environmental considerations. This collection ofessays presents analyses of the question from the economist’s pointof view.
The essays fall into three groups. In the first of these, theauthors examine the taxation of the mining and energy industries andshow how the method of taxation chosen by different levels ofgovernment -- federal or provincial -- may be “non-neutral,”distorting private output and timing decisions. The second groupconsists of careful case studies of the effects of particular naturalresource taxation measures; the third focuses directly on the questionof provincial and federal entitlement to resource revenues.
Although arguments are advanced for linking the right to tax to theresponsibility for management and control (at present vested in theprovinces), most of the contributors would agree that the provincesshould be regarded as stewards and bailiffs, not landlords; as rentcollectors and managers, not “rentiers” and owners.
The British Columbia Institute of Economic Policy Analysis /Walter D. Young
Foreword / Mason Gaffney
Introduction / Anthony Scott
Acknowledgments
Who Should Get Natural Resource Revenues? / AnthonyScott
The Constitution: A Basis for Bargaining / W.R.Lederman
The Political Context of Resource Development in Canada / DonaldV. Smiley
Equalization Payments and Energy Royalties / Thomas J.Courchene
Note on Equalization and Resource Rents / Douglas H.Clark
Natural Resource Revenue Sharing: A Dissenting View / Andrew R.Thompson
Resource Rent: How Much and for Whom? / Harry F. Campbell, W.D.Gainer and Anthony Scott
Static Redistributive and Welare Effects of an Export Tax? /T.L. Powrie
Taxes, Royalties, and Equity Participation as Alternative Methods ofDividing Resource Revenues: The Syncrude Example / John Helliwelland Gerry May
A Comment on Natural Resource Revenue Sharing: The Links betweenRevenue Sharing and Energy Policy / Judith Maxwell
Rent vs. Revenue Maximization as an Objective of EnvironmentalManagement / Harry F. Campbell
Ontario Mining Profit Tax: An Evaluation / J. ClarkLeith
Governments and Mineral Resource Earnings: Taxation with OverSimplification? / Paul G. Bradley
Note on Federations and Risk Aversion / John Butlin
A Note on the Economics of Oil-Financed Recovery Projects / G.C.Watkins
The Concept of a Nation and Entitlements to Economic Rents / A.Milton Moore
The Volatility of Rents / Albert Breton
A Comment on Decentralized Resource Control / Irene M.Spry
Biographical Notes
Index
