Journal article
The shifting natural wealth of nations: the role of market orientation
- Abstract:
- 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.
- Publication status:
- Published
- Peer review status:
- Peer reviewed
Actions
Access Document
- Files:
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-
(Preview, Accepted manuscript, pdf, 1011.8KB, Terms of use)
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- Publisher copy:
- 10.1016/j.jdeveco.2018.12.002
Authors
- Publisher:
- Elsevier
- Journal:
- Journal of Development Economics More from this journal
- Volume:
- 138
- Pages:
- 228-245
- Publication date:
- 2018-12-25
- Acceptance date:
- 2018-12-18
- DOI:
- ISSN:
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0304-3878
- Language:
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English
- Keywords:
- Pubs id:
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pubs:931146
- UUID:
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uuid:267291a4-d2c1-445e-b53c-efc3f1f08c2c
- Local pid:
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pubs:931146
- Source identifiers:
-
931146
- Deposit date:
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2019-05-16
Terms of use
- Copyright holder:
- Elsevier BV
- Copyright date:
- 2018
- Rights statement:
- © 2018 Published by Elsevier B.V.
- Notes:
-
This is the accepted manuscript version of the article. The final version is available from Elsevier at https://doi.org/10.1016/j.jdeveco.2018.12.002
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