C entre for U rban E conomics and Real Estate Discussion Paper 2013– 01 Politics and Performance: British Columbia’s Economic and Fiscal Experience under the N DP and B C L iberals 1991-2013 Tsur Somerville* May 2013 * Real Estate Foundation Professorship of Real Estate Finance, Sauder School of Business, University of British Columbia, 2053 Main Mall, Vancouver, BC, V6T 1Z2, Canada. Tel: (604) 822-8343, Fax: (604) 822-8477. Email: [email protected] We are grateful for the support of the Real Estate Institute of British Columbia and the Real Estate Foundation of British Columbia through their contributions to The UBC Centre for Urban Economics and Real Estate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