The shifting natural wealth of nations: the role of market orientation
This paper explores the effect of market orientation on (known) natural wealth using a novel dataset of world-wide major hydrocarbon and mineral discoveries. Consistent with the predictions of a two-region model, our empirical estimates based on a large panel of countries show that increased market...
| Main Authors: | , , |
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| 格式: | Working paper |
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University of Oxford
2016
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| _version_ | 1826283451217608704 |
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| author | Van der Ploeg, R Arezki, R Toscani, F |
| author_facet | Van der Ploeg, R Arezki, R Toscani, F |
| author_sort | Van der Ploeg, R |
| collection | OXFORD |
| description | This paper explores the effect of market orientation on (known) natural wealth using a novel dataset of world-wide major hydrocarbon and mineral discoveries. Consistent with the predictions of a two-region model, our empirical estimates based on a large panel of countries show that increased market orientation causes a significant increase in discoveries. In a thought experiment whereby economies in Latin America and sub-Saharan Africa remained 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 resource endowment is exogenous. |
| first_indexed | 2024-03-07T00:59:06Z |
| format | Working paper |
| id | oxford-uuid:8919f931-2f50-4ad7-a1e1-a8026ce60a35 |
| institution | University of Oxford |
| last_indexed | 2024-03-07T00:59:06Z |
| publishDate | 2016 |
| publisher | University of Oxford |
| record_format | dspace |
| spelling | oxford-uuid:8919f931-2f50-4ad7-a1e1-a8026ce60a352022-03-26T22:22:08ZThe shifting natural wealth of nations: the role of market orientationWorking paperhttp://purl.org/coar/resource_type/c_8042uuid:8919f931-2f50-4ad7-a1e1-a8026ce60a35Symplectic ElementsBulk import via SwordUniversity of Oxford2016Van der Ploeg, RArezki, RToscani, FThis paper explores the effect of market orientation on (known) natural wealth using a novel dataset of world-wide major hydrocarbon and mineral discoveries. Consistent with the predictions of a two-region model, our empirical estimates based on a large panel of countries show that increased market orientation causes a significant increase in discoveries. In a thought experiment whereby economies in Latin America and sub-Saharan Africa remained 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 resource endowment is exogenous. |
| spellingShingle | Van der Ploeg, R Arezki, R 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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