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[1K0501-05-04] Resource Nationalism and Resource Development Potential: A mid-term view

Larona Teseletso¹, ○Tsuyoshi Adachi¹ (1. Akita University)

Keywords:Resource Nationalism, Resource Development Potential, Metal Resources, Energy Resources, Resource-Rich Countries

Since early 2000s, a burgeoning wave of resource nationalism has offset the potential development of metal and energy resources in resource rich countries. It has shrunk mining investment due to the deteriorating investor confidence. Many studies have highlighted the underlying factors of resource nationalism from a socio-political perspective but still lack to address resource nationalism and economic nexus. Herein, the lacuna of the study quantifies to reveal macroeconomic factors hampering potential development of metal and energy resources across countries with events of resource nationalism. The methodology in this paper is carried out over 89 jurisdictions at a global scale over 2000-2017. The degree of potential towards resource development is investigated to estimate implicating variables and their marginal effects driven by exposure to resource nationalism in producing countries. It focuses on trade, credit and governance risks burdening these resource rich countries. The study applies a quantitative approach that is capable to analyze the uncertainty of potential future risks, from a macroeconomic perspective, governing resource nationalism towards the potential of mineral development within producer countries. This could identify suitable investment options and policy feedback feared by potential investors. The discernment of resource nationalism in these producing countries is vital for the creation of positive resource development potential to remain attractive for present and future investment.