Thesis advisor: Geoffrey Sanzenbacher / Despite growing importance in the global economy, many of the countriees with large natural resource economies are among the poorest. In this paper, I first construct a theoretical model that provides a framework for the harm of natural resources on corruption levels and governance. Then, I construct what I call the Resource Volatility Index. This measures both a country's level of dependence on a category of resources and the price volatility of these resources themselves. Finally, I use Correlated Random Effects models to show that both average and year-varying levels of this index can explain the level of corruption and the quality of governance in a given country. The nagative impacts I find on both variables confirms previous economic theory on governments funded by natural resources. / Thesis (BA) — Boston College, 2024. / Submitted to: Boston College. Morrissey School of Arts and Sciences. / Discipline: Economics. / Discipline: Scholar of the College.

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Les politiques environnementales, notamment celles recourant aux instruments fiscaux, ont pris une place de plus en plus importante dans un grand nombre de pays durant les trois dernières décennies. Tous les pays de l’OCDE ont introduit des taxes liées à l'environnement et un nombre croissant d'entre eux procèdent à une réforme dite "verte" de leur fiscalité. L’utilisation de la taxe comme un instrument pour la politique environnementale a suscité un large débat parmi les chercheurs sur ses impacts sur la croissance économique, mais sans parvenir à un consensus sur la nature de ces effets. Certains trouvent un effet négatif, alors que d’autres montrent un impact positif. Deux points ont attiré notre attention sur ce sujet. Premièrement, les études empiriques qui vérifient la validité de ces résultats sont très rares. Deuxièmement, la majorité des modèles théoriques qui ont étudié l’effet de la fiscalité environnementale sur la croissance économique supposent que le gouvernement finance ses dépenses uniquement par les taxes et que le budget d’État est équilibré à chaque période, évitant ainsi tout fardeau associé au remboursement de la dette publique. Par conséquent, cette thèse a pour objectif d’abord d’explorer empiriquement la nature de la relation entre la fiscalité environnementale et la croissance économique, et si cette relation est sensible au niveau d'autres variables dans l'économie. Ensuite, nous examinons les canaux par lesquels cette taxe peut affecter la croissance économique, et si l'existence et le niveau de la dette publique peuvent modifier cet effet. / Environmental policies, especially those using fiscal instruments, have become more and more important in a large number of countries over the last three decades. All OECD countries have introduced environmentally related taxes, and a growing number of them are carrying out a so-called "green" reform of their taxation. The use of the tax as an instrument for environmental policy has sparked wide debate among researchers on its impacts on economic growth, but without reaching consensus on the nature of these effects. Some find a negative effect; while others show a positive impact. Two points raised our attention on this subject. First, the empirical studies that verify the validity of these results are very rare. Second, the majority of theoretical models that have studied the effect of environmental taxation on economic growth assume that the government finances its expenditures solely through taxes and that the state budget is balanced each period, thus avoiding any burden associated to repayment of public debt. Therefore, this thesis aims firstly to explore empirically the nature of the relationship between environmental taxation and economic growth, and whether this relationship is sensitive to the level of other variables in the economy. We examine then the channels through which this tax can affect economic growth, and whether the existence and level of public debt can modify this effect.

<p dir="ltr">An inquiry into the additionality of the income tax credit program for solar purchasing in Ohio, where aggregation electric purchasing programs exist.</p><p dir="ltr">In the State of Ohio, a unique feature of the electric market regulatory landscape permits local governments to become energy suppliers to their residents and small businesses through programs known as community choice aggregation (CCA). Some of these programs guarantee 100% renewable electricity to all enrollees. Concurrently, the federal government offers an income tax credit (ITC) for the purchase of a solar array. When policy incentives are offered, it is important to ensure they impact their target audience to act in ways that would not be observed in the scenario without the tax incentive. This is known as “additionality.” In the context of carbon emissions reduction goals, individuals who claim the ITC while already having 100% renewable electricity would violate additionality. In other words, these renewable aggregation programs may crowd out the benefits of the ITC. This paper seeks to assess the additionality of the ITC in the context of Ohio’s CCA program. The actual additionality can depend on whether renewable energy is already being supplied to the site that constructs a solar array. Hence, we study the relationship between CCA and solar adoption probability to determine whether tax incentives are additional. Using non-parametric survival analysis, panel data methods, and post-estimation simulations, this paper seeks to discern if additionality is violated using the ITC in areas where a supply of renewable energy is already guaranteed. We find that aggregation programs increase the probability of solar adoption and that on average, in Ohio, roughly $0.44 of every dollar spent on the income tax credit is non-additional. This will help policymakers determine the efficacy of funds allocated to their respective programs.</p>