The Shifting Natural Wealth of Nations : The Role of Market Orientation
This paper explores the effect of market orientation on (known) natural resource wealth using a novel dataset of world-wide major hydrocarbon and mineral discoveries. Consistent with the predictions of a two-region model, the empirical estimates ba...
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| Format: | Working Paper |
| Language: | English |
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World Bank, Washington, DC
2018
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| Online Access: | http://documents.worldbank.org/curated/en/920431531329592002/The-shifting-natural-wealth-of-nations-the-role-of-market-orientation http://hdl.handle.net/10986/29993 |
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okr-10986-299932021-06-08T14:42:46Z The Shifting Natural Wealth of Nations : The Role of Market Orientation Arezki, Rabah van der Ploeg, Frederick Toscani, Frederik NATURAL RESOURCE MANAGEMENT MARKET ORIENTATION ECONOMIC LIBERALIZATION INSTITUTIONS ENDOGENOUS RESERVES OIL AND GAS EXPLORATION ATURAL RESOURCE ENDOWMENT DEPLETION RATE OPEN MARKET This paper explores the effect of market orientation on (known) natural resource wealth using a novel dataset of world-wide major hydrocarbon and mineral discoveries. Consistent with the predictions of a two-region model, the 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 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. The results call into question the commonly held view that natural resource endowments are exogenous. 2018-07-16T14:15:32Z 2018-07-16T14:15:32Z 2018-07 Working Paper http://documents.worldbank.org/curated/en/920431531329592002/The-shifting-natural-wealth-of-nations-the-role-of-market-orientation http://hdl.handle.net/10986/29993 English Policy Research Working Paper;No. 8520 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 Africa Latin America & Caribbean Latin America Sub-Saharan Africa |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English |
| topic |
NATURAL RESOURCE MANAGEMENT MARKET ORIENTATION ECONOMIC LIBERALIZATION INSTITUTIONS ENDOGENOUS RESERVES OIL AND GAS EXPLORATION ATURAL RESOURCE ENDOWMENT DEPLETION RATE OPEN MARKET |
| spellingShingle |
NATURAL RESOURCE MANAGEMENT MARKET ORIENTATION ECONOMIC LIBERALIZATION INSTITUTIONS ENDOGENOUS RESERVES OIL AND GAS EXPLORATION ATURAL RESOURCE ENDOWMENT DEPLETION RATE OPEN MARKET Arezki, Rabah van der Ploeg, Frederick Toscani, Frederik The Shifting Natural Wealth of Nations : The Role of Market Orientation |
| geographic_facet |
Africa Latin America & Caribbean Latin America Sub-Saharan Africa |
| relation |
Policy Research Working Paper;No. 8520 |
| description |
This paper explores the effect of market
orientation on (known) natural resource wealth using a novel
dataset of world-wide major hydrocarbon and mineral
discoveries. Consistent with the predictions of a two-region
model, the 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 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. The results
call into question the commonly held view that natural
resource endowments are exogenous. |
| format |
Working Paper |
| author |
Arezki, Rabah van der Ploeg, Frederick Toscani, Frederik |
| author_facet |
Arezki, Rabah van der Ploeg, Frederick Toscani, Frederik |
| author_sort |
Arezki, Rabah |
| title |
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_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_sort |
shifting natural wealth of nations : the role of market orientation |
| publisher |
World Bank, Washington, DC |
| publishDate |
2018 |
| url |
http://documents.worldbank.org/curated/en/920431531329592002/The-shifting-natural-wealth-of-nations-the-role-of-market-orientation http://hdl.handle.net/10986/29993 |
| _version_ |
1764471005883924480 |