Is risk-sharing resource taxation in society's best interests if prices are log-normally distributed?

This paper contributes to our understanding of the perceived benefits for society of risk-sharing resource taxation. In the particular context of log-normally distributed prices a model is developed which enables comparison of risk-sharing resource taxation with an alternative in determining the overall return to society from auctioning an extraction lease. The main finding of the paper is a potential exception to the general preference for risk-sharing resource taxation if the bidding firms are effectively risk neutral. This exception is illustrated numerically in the context of the impact of increased price uncertainty, but it is shown not to be robust with respect to divergences from risk neutrality in the risk attitudes of firms. Consequently, it is concluded that the choice of risk-sharing resource taxation is likely to be in society's best interests, regardless of the probability distribution of prices.     

JUDICIAL RESOLUTION OF TRANSBOUNDARY WATER CONFLICTS 1

ABSTRACT: Transboundary water conflicts occur under four circumstances. Because water is mobile, more than one political unit or owner has power to use water as it sequentially moves through the hydrologic cycle. Even when water doesn't move, jurisdictional conflicts occur because multiple political units regulate water simultaneously. When a river is a boundar uncertainty of ownership or jurisdiction occurs as the river shifts its course through natural processes. Lastly, limitations on who may use water may be imposed by export bans or more indirect measures like taxation. Legal solutions to transboundary conflicts are limited to litigation, legislation, and negotiated agreements. This paper examines the judicial solution.     

Economic risk and mineral taxation on Indigenous lands

Mining generates risk of environmental and social harm for Indigenous peoples but can also generate substantial revenues for them, creating opportunities for community development in a context where economic and social disadvantage is the norm. Especially as mining revenues should, in part, compensate for mining’s negative social and environmental impacts, it is vital that mineral taxation on Indigenous lands reflect a careful assessment of appropriate tax mechanisms and a matching of these with community priorities. Yet little has been written that could serve as a guide for Indigenous decision makers. This article contributes to an understanding of the issues and choices facing Indigenous communities in designing mineral taxation regimes, by focusing on the question of economic risk. Risk arises as a key variable in choosing or designing a mineral taxation regime in three ways. Different approaches to mineral taxation are inherently more or less risky, in the sense that they are more or less certain to generate tax revenues. A second aspect of risk involves the degree of economic certainty or predictability associated with different types of commodities and projects. Third, the risk tolerance of Indigenous peoples and communities can vary significantly. We show how Indigenous groups can integrate and address these different dimensions of risk, by recognising the ‘risk consequences’ associated with different approaches to mineral taxation and choosing an approach that reflects, as fully as possible, the group’s risk tolerance.     

The use of regulatory taxation as a policy instrument for sustainability transitions: old wine in new bottles or unexplored potential?

The burgeoning literature on sustainable transitions links persistent environmental problems to the functioning of socio-technical systems. Conventional policy instruments, such as environmental taxation, are often rejected by transition scholars but in-depth studies on their potential are scarce. This paper explores the potential of the instrument of environmental taxation for influencing sustainability transitions. The multi-level perspective and the multi-phase perspective from transition thinking and the social practices approach are combined with the environmental economics theories of Pigou and Coase. Our analysis shows that the highest impact of regulatory taxation will be realised at the end of the take-off phase and in the acceleration phase of a transition. Although important barriers exist and many conditions apply, regulatory environmental taxation, especially as part of a smart policy mix, has more potential for contributing to sustainability transitions than hitherto assumed.     

环境税与环保制度的协调

排污费改革为环境税是环境保护领域的重大课题,环境税开征必须充分协调好与环境保护制度之间的关系。为协调与环境污染总量控制等环境行政管控制度的关系,应注重加强环境税的合作征管和联合执法,为行政管控提供较为顺畅的信息机制。为协调与排污权交易等环境经济制度的关系,应加强成本效益分析,妥善分配部门间权力与利益,并根据经济社会发展情况处理好地区发展和结构性配置等问题。     

What are the implications of human rights for minerals taxation?

This article examines the relationship between a state's taxation of mineral revenues and the human rights obligation to use ‘maximum available resources’ to further citizens' welfare. These both have implications for understanding the other but there has been little attention to their interaction.Contemporary (economic and policy) approaches to mineral taxation revolve around economic rent and providing a ‘neutral’ economic environment that does not influence investment decisions. There is no reference to human rights obligations—these are just part of the state's general responsibilities for which it can legitimately raise taxes. Taxation analysis largely ignores whether the state wants money to ensure there is adequate food for the population, or instead to stage the Miss Universe pageant.Human rights has relevance for the state's management of resources. The requirement for states to apply ‘maximum available resources’ to fulfil human rights suggests that mineral extraction (and taxation) should occur as fast as possible to be applied for the human rights of the current population A more considered analysis weighs against such a literal interpretation. Nevertheless, the requirement of using ‘maximum available resources’ to fulfil human rights has important implications for mineral taxation.     

LOW-INPUT AGRICULTURE AS A GROUND WATER PROTECTION STRATEGY1

ABSTRACT: Protection of ground water quality is of considerable importance to local, state, and federal governments. This study uses a 15-year mathematical programming model to evaluate the effectiveness of low-input agriculture, under alternative policy scenarios, as a strategy to protect ground water quality in Richmond County, Virginia. The analysis considers eight policy alternatives: cost-sharing for green manures, two restrictions on atrazine applications levels, chemical taxation, a restriction on potential chemical and nitrogen levels in ground water only and in surface and ground water, and two types of land retirement programs. The CREAMS and GLEAMS models were used to estimate nitrate and chemical leaching from the crop root zone. The economic model evaluates production practices, policy constraints, and water quality given a long-term profit maximizing objective. The results indicate that low-input agriculture alone may not be an effective ground water protection strategy. The policy impacts include partial adoption of low-input practices, land retirement, and the substitution of chemicals. Only mandatory land retirement policies reduced all chemical and nutrient loadings of ground water; however, they did not promote the use of low-input agricultural practices.     

Indigenous people and mineral taxation regimes

Indigenous people in a number of major mineral-producing countries have established a substantial and growing capacity to tax mineral resources extracted from their traditional lands. However, almost no analysis has been conducted regarding the conceptual and practical issues involved in designing mineral taxation regimes for use by indigenous people. The general literature on mineral taxation is of limited relevance because basic assumptions it makes regarding the nature of the taxing authority (national or state governments) do not apply to indigenous peoples. This article discusses some key characteristics of indigenous communities as they relate to taxation of mineral resources. Against this background, it identifies a number of approaches to mineral taxation which might be utilized by indigenous groups and which acknowledge the specific constraints and circumstances they face while at the same time recognizing their need to attract and maintain investment on their traditional lands. It also reviews the inter-relationship between indigenous and state or governmental tax regimes.     

促进循环经济发展的税收对策

循环经济是一种全新的经济模式，它关注的是资源减量、循环及再利用的问题。通过对国外为实现循环型经济所采取的税收政策的比较，分析我国目前在该领域采取的措施和存在的问题。并根据我国的实际情况，提出了促进发展循环经济的税收对策。     

International mining taxation issues and comparisons

This paper presents the quantitative results of recent research on Canada's minerals and metals industry, and its international competitiveness for mineral investment. The information and analysis presented are derived from the work of a Canadian government-industry task force that was created in 1991, under the auspices of the Intergovernmental Working Group on the Mineral Industry (IGWG). Much of this work deals with mining taxation in several Canadian provinces. More importantly, an attempt is made to evaluate the total tax burden that the mining industry must bear, on a project basis, at all levels from exploration through refining operations in many important competitor countries. While the focus of the paper is on an international comparison of mining taxation, some non-tax issues relating to Canada's competitiveness for mineral investment are addressed .     

An analysis of the relationship between uncertainty-reducing exploration and resource taxation

This paper analyses the role of exploration as an uncertainty-reducing activity for a company facing resource taxation. Such exploration is of benefit, even to a risk-neutral company, because it enables a better decision to be made regarding extraction investment (Kretzer, 1994). This paper extends previous contributions to the economics of exploration in several areas which are of practical significance. First, exploration is analysed both in the context of a log-normally distributed resource deposit and of an ad valorem royalty. Second, the role of exploration in an ad valorem royalty regime is contrasted with that of a Resource Rent Tax. Finally, the relationship between exploration and resource taxation in situations of very divergent pre-exploration levels of uncertainty is considered.     

THE POLITICAL ECONOMY OF AGRICULTURE,GROUND WATER QUALITY MANAGEMENT,AND AGRICULTURAL RESEARCH1

ABSTRACT: The growing problem of nonpoint source ground water contamination from agricultural chemicals is conceptualized as an historical outcome of the production environment of capitalist agriculture in the Corn Belt. Chronic overproduction and ground water contamination reveal different aspects of the same technological treadmill. The debate over Iowa's 1987 Ground Water Protection Act symbolizes the contradiction between popular demand for clean water and structural limits on policymaking. Although the Act does provide for expanded research, education, and monitoring, a coalition of commercial farmers, local chemical dealers, and the national chemical industry defeated a tax on pesticide use. Analysis of alternate policy responses - Best Management Practices (BMPs), cross compliance, site-specific regulation of chemical use, and taxation of synthetic chemicals - reveals that all tend to founder on the same structural constraints. Without practical, profitable, low-input technologies that farmers, over time, would choose to adopt, both voluntary and regulatory approaches encounter major political or implementation difficulties. The public agricultural research agenda, therefore, emerges as a central control variable for ground water quality management and a central focus for political struggle.     

构建中国环境税法律体系之设想

目前中国并没有专门用于环境目的的税种,环境管理的经济手段主要依靠资源税、消费税等相关税种与排污收费制度,但其均存在征收范围过窄、环保意义不突出等问题。因而应从面临的现实环境问题出发,兼顾税收体系的总体平衡,在完善现有相关税种的基础上开征新的环境保护专项税,从而建立起以排污税、产品消费税、资源税为基本构成的融入型环境税收体系。     

我国水资源管理的经济政策耦合效果仿真研究

水资源管理的经济政策效果模拟是从政策理论到政策实践的关键步骤，让决策者感知政策效果的方向和影响程度，才能更好地促进政策实践转化。本研究引入系统动力学方法，构建水资源经济政策耦合机制下水资源系统动力学（SD）模型，将我国划分为三种类型区域（干旱地区、丰水地区和过渡地区），进行三类四种水资源管理经济政策（水资源有偿使用，水价政策和水权政策；水污染收费，排污收费政策；水生态保护，水生态保护补偿政策）的耦合仿真实证研究。以我国水资源管理政策设计为目标，进行不同水管理政策耦合的生态经济效果仿真和效果定量评价，结果发现：干旱地区有偿使用的经济政策是目前经济水平下效果最好的；过渡地区有偿使用结合污水排放收费政策效果是最好的；而丰水地区必须同时实施水资源有偿使用和水污染收费两类经济政策。     

我国生态环境财税政策历史变迁及优化建议

本文系统回顾了新中国成立70年以来生态环境财税政策的历史变迁,以时间为主线,分析其在不同阶段的措施手段,对于制定完善生态环境财税政策,全面推进美丽中国建设具有重大意义。生态环境财税政策大致经历了萌芽发展、探索发展、开拓发展和快速发展四个阶段,从无到有,逐步演化,已形成种类齐全,内容丰富的政策体系,但同时也存在着支出力度和支出效率不足、事权与支出责任相适应的制度不明确、税收政策体系尚不完善等问题。本文提出了增加财政"211节能环保"科目支出规模、健全事权与支出责任相匹配的财政制度、完善环境保护税和税收优惠政策、建立基于绩效的资金分配机制等优化新时期生态环境财税政策的建议。     

MINING AGREEMENTS IN DEVELOPING COUNTRIES-ISSUES OF FINANCE AND TAXATION

This article continues a Forum series on recent trends in mining contracts between host countries and foreign investors begun in the April 1977 issue. Based on intensive research carried out for the preparation of a book on Mining Ventures in Developing Countries , published recently in the Federal Republic of Germany, the authors discuss sources of finance, institutions, exchange controls and special accounts, royalties, income taxation, and equity participation. They conclude that taxation is most likely to remain the principal source of income; equity participation should be evaluated carefully as it does not automatically guarantee maximum benefits. The combination of taxes and royalties provide a steady flow of income. An increase of the total tax burden beyond a certain percentage may be counterproductive for the host country, as it encourages the investor to look for less controllable means of shifting profits or discourages investment for exploration and development.     

The Employment and Productivity Effects of Environmental Taxation: Additional Dividends or Added Distractions?

Claims of employment and productivity gains from environmental taxation are examined in the context of recent policy developments which have extended the traditional role of economic instruments in environmental regulation. Although the general existence of such spin-offs cannot be established, the debate has clarified guidelines for designing and implementing specific environmentally based taxes to help deliver sustainable development. Recent UK tax proposals have started to draw on the flexibility of fiscal instruments to tackle environmental problems. Innovations include earmarking taxes to fund allied spatial and sectoral programmes, recycling revenues to provide fiscally neutral improvements in tax efficiency and using taxation to help promote eco-efficiency.     

输水水质保障约束下的南四湖流域产业生态化发展研究

在生态文明建设理念的指导下,从南四湖流域的自身特点与现状出发,在总结和借鉴国内外产业生态发展主要经验的基础上,结合南四湖流域自身特点,从管理机制、财政政策、价格税收、技术创新、投资取向、政绩考核等多角度出发,构建了南四湖流域的产业生态政策体系,并从实施目标责任考核、建立流域产业布局规划的协调制度、完善产业结构调整优化的法律法规制度、增强生态产业的科技创新能力、建立流域的政府信息共享与公开机制、建立健全流域水环境执法机构六个方面提出了相应的生态保障措施。     

Mining investment promotion

Attitudes in developing countries with respect to private investment in natural resources have changed substantially in recent years. Countries must now compete for such investment by ensuring that policies pertaining to state participation, financing, marketing and taxation of mining ventures provide the investor with returns that are commensurate with the risks taken. Governments must also be prepared to help the investor compete on world markets through lower capital and operating costs. This entails granting exemptions of customs, excise and value added taxes as well as providing for policies on taxation, government participation, industrial relations, safety and environment, and procurement and personnel that are in line with international mining industry standards. Efforts to promote mining sector investment through the strengthening of technical ministries, preparation of basic geological and project information, investment symposia and an international mining council can be helpful in bringing opportunities to the attention of the investment community. But, these efforts can only succeed if the policy changes now being put into place continue to evolve and contribute to an atmosphere in which entrepreneurship and private investment can flourish.     

促进循环经济发展的税收政策

循环经济是一种全新的经济模式,它关注的是资源减量、循环及再利用的问题。介绍了国外发展循环经济所采取的税收政策,指出我国目前在该领域所存在的问题,并根据我国的实际情况,提出了促进发展循环经济的税收政策,包括:完善现有税种,开征环境保护税,建立“绿色关税”体系,尽早开征燃油税,制定激励机制,开征社会保障税。