Resource Revenues and Fiscal Sustainability in Alberta

Leslie Shiell and Colin Busby ()
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Colin Busby: C.D. Howe Institute

No 0807E, Working Papers from University of Ottawa, Department of Economics

Abstract: Alberta’s public finances depend upon volatile revenues from an exhaustible resource base. The question arises of what proportion of current resource revenues the government should spend on current priorities and what proportion it should save for future generations. The paper uses the Permanent Resource Income Model to answer the following four questions: Has Alberta saved enough of its resource revenues to date? What level of spending out of resource wealth is sustainable moving forward? What are the implications of a sustainable policy for the province’s current budget planning? Should Alberta follow Norway’s example of saving all of its resource revenues in a fund and spending only the resulting investment income?

Keywords: Natural resource revenues; Fiscal sustainability (search for similar items in EconPapers)
JEL-codes: H6 Q32 Q33 (search for similar items in EconPapers)
Pages: 49 pages
Date: 2008
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Citations: View citations in EconPapers (2)

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