The shifting natural wealth of nations: the role of market orientation
This paper explores the effect of market orientation on (known or available) natural resource wealth using a novel dataset of world-wide major hydrocarbon and mineral discoveries. Our empirical estimates based on a large panel of countries show that increased market orientation causes a significant...
| Main Authors: | , , |
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| Format: | Journal article |
| Language: | English |
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Elsevier
2018
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| _version_ | 1797059027354517504 |
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| author | Arezki, R Van Der Ploeg, F Toscani, F |
| author_facet | Arezki, R Van Der Ploeg, F Toscani, F |
| author_sort | Arezki, R |
| collection | OXFORD |
| description | This paper explores the effect of market orientation on (known or available) natural resource wealth using a novel dataset of world-wide major hydrocarbon and mineral discoveries. Our empirical estimates based on a large panel of countries show that increased market orientation causes a significant increase in discoveries of natural resources. In a thought experiment where economies in Latin America and sub-Saharan Africa remain closed, they would have only achieved one quarter of the actual increase in discoveries they have experienced since the early 1990s. Our results call into question the commonly held view that known or available natural resource endowments are exogenous. |
| first_indexed | 2024-03-06T19:58:26Z |
| format | Journal article |
| id | oxford-uuid:267291a4-d2c1-445e-b53c-efc3f1f08c2c |
| institution | University of Oxford |
| language | English |
| last_indexed | 2024-03-06T19:58:26Z |
| publishDate | 2018 |
| publisher | Elsevier |
| record_format | dspace |
| spelling | oxford-uuid:267291a4-d2c1-445e-b53c-efc3f1f08c2c2022-03-26T12:00:59ZThe shifting natural wealth of nations: the role of market orientationJournal articlehttp://purl.org/coar/resource_type/c_dcae04bcuuid:267291a4-d2c1-445e-b53c-efc3f1f08c2cEnglishSymplectic Elements at OxfordElsevier2018Arezki, RVan Der Ploeg, FToscani, FThis paper explores the effect of market orientation on (known or available) natural resource wealth using a novel dataset of world-wide major hydrocarbon and mineral discoveries. Our empirical estimates based on a large panel of countries show that increased market orientation causes a significant increase in discoveries of natural resources. In a thought experiment where economies in Latin America and sub-Saharan Africa remain closed, they would have only achieved one quarter of the actual increase in discoveries they have experienced since the early 1990s. Our results call into question the commonly held view that known or available natural resource endowments are exogenous. |
| spellingShingle | Arezki, R Van Der Ploeg, F Toscani, F The shifting natural wealth of nations: the role of market orientation |
| title | The shifting natural wealth of nations: the role of market orientation |
| title_full | The shifting natural wealth of nations: the role of market orientation |
| title_fullStr | The shifting natural wealth of nations: the role of market orientation |
| title_full_unstemmed | The shifting natural wealth of nations: the role of market orientation |
| title_short | The shifting natural wealth of nations: the role of market orientation |
| title_sort | shifting natural wealth of nations the role of market orientation |
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