From Commodity Discovery to Production

Major resource discoveries have transformed growth prospects for many low-income countries. However, the sharp downturn in commodity prices in recent years is affecting resource investment in these countries, and may delay the development of recent...

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Main Authors:	Khan, Tehmina, Nguyen, Trang, Ohnsorge, Franziska, Schodde, Richard
Format:	Working Paper
Language:	English en_US
Published:	World Bank, Washington, DC 2016
Subjects:	exhaustible resources nonrenewable resources resource boom energy commodity markets
Online Access:	http://documents.worldbank.org/curated/en/2016/09/26790338/commodity-discovery-production http://hdl.handle.net/10986/25134

id	okr-10986-25134
recordtype	oai_dc
spelling	okr-10986-251342021-04-23T14:04:29Z From Commodity Discovery to Production Khan, Tehmina Nguyen, Trang Ohnsorge, Franziska Schodde, Richard exhaustible resources nonrenewable resources resource boom energy commodity markets Major resource discoveries have transformed growth prospects for many low-income countries. However, the sharp downturn in commodity prices in recent years is affecting resource investment in these countries, and may delay the development of recent discoveries into production. This study investigates lead times from discovery to production for a unique data set of gold and copper discoveries worldwide during 1950-2014. The study employs standard parametric and nonparametric duration analysis. The results suggest an important role for copper prices; for instance, an upswing at the time of discovery can hasten the development of the mine by two to three years in low-income countries. There appears to be a similarly beneficial impact on lead times of sounder macroeconomic policies and quality of governance. 2016-10-07T20:08:28Z 2016-10-07T20:08:28Z 2016-09 Working Paper http://documents.worldbank.org/curated/en/2016/09/26790338/commodity-discovery-production http://hdl.handle.net/10986/25134 English en_US Policy Research Working Paper;No. 7823 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank, Washington, DC Publications & Research Publications & Research :: Policy Research Working Paper
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English en_US
topic	exhaustible resources nonrenewable resources resource boom energy commodity markets
spellingShingle	exhaustible resources nonrenewable resources resource boom energy commodity markets Khan, Tehmina Nguyen, Trang Ohnsorge, Franziska Schodde, Richard From Commodity Discovery to Production
relation	Policy Research Working Paper;No. 7823
description	Major resource discoveries have transformed growth prospects for many low-income countries. However, the sharp downturn in commodity prices in recent years is affecting resource investment in these countries, and may delay the development of recent discoveries into production. This study investigates lead times from discovery to production for a unique data set of gold and copper discoveries worldwide during 1950-2014. The study employs standard parametric and nonparametric duration analysis. The results suggest an important role for copper prices; for instance, an upswing at the time of discovery can hasten the development of the mine by two to three years in low-income countries. There appears to be a similarly beneficial impact on lead times of sounder macroeconomic policies and quality of governance.
format	Working Paper
author	Khan, Tehmina Nguyen, Trang Ohnsorge, Franziska Schodde, Richard
author_facet	Khan, Tehmina Nguyen, Trang Ohnsorge, Franziska Schodde, Richard
author_sort	Khan, Tehmina
title	From Commodity Discovery to Production
title_short	From Commodity Discovery to Production
title_full	From Commodity Discovery to Production
title_fullStr	From Commodity Discovery to Production
title_full_unstemmed	From Commodity Discovery to Production
title_sort	from commodity discovery to production
publisher	World Bank, Washington, DC
publishDate	2016
url	http://documents.worldbank.org/curated/en/2016/09/26790338/commodity-discovery-production http://hdl.handle.net/10986/25134
_version_	1764458636849971200

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