Rabah Arezki, Rick van der Ploeg, Frederik Toscani, 15 December 2016

Global natural wealth has shifted from North to South over the past decades, with discoveries of major oil and gas fields and mineral deposits first in Latin America and more recently in Sub-Saharan Africa. This column argues that a more outward market orientation on the part of developing countries has been the key driving force behind this shift – over and above other forces such as the increase in emerging markets’ demand and/or developed countries running out of natural resources.

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