Economic development and known natural resource endowment: Discovery rate differentials of oil

IF 5.1 1区 经济学 Q1 ECONOMICS Journal of Development Economics Pub Date : 2024-04-09 DOI:10.1016/j.jdeveco.2024.103290
Jonas Hamang
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Abstract

The location of oil reserves plays an essential role in policymakers’ incentives to coordinate supply-side climate policy. In this paper I use data on the location of all historic onshore petroleum discoveries to establish a new stylized fact: Economically developed areas are many times more likely to contain an oil or gas discovery, compared to undeveloped areas. I show that this result is not driven reverse causality or confounding geology. By implication, there exist large additional undiscovered oil and gas deposits in currently undeveloped areas, mainly located outside of Europe and North America. I quantify these deposits to be about 40% of total discovered onshore oil reserves.

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经济发展和已知自然资源禀赋:石油发现率差异
石油储量的位置对政策制定者协调供应方气候政策的积极性起着至关重要的作用。在本文中,我利用历史上所有陆上石油发现地点的数据,确定了一个新的典型事实:与未开发地区相比,经济发达地区发现石油或天然气的可能性要高出许多倍。我的研究表明,这一结果并不是由于反向因果关系或地质因素造成的。这意味着,在目前尚未开发的地区,还存在大量未被发现的石油和天然气储藏,主要分布在欧洲和北美以外的地区。我将这些储量量化为已发现陆上石油总储量的 40%。
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来源期刊
CiteScore
8.30
自引率
4.00%
发文量
126
审稿时长
72 days
期刊介绍: The Journal of Development Economics publishes papers relating to all aspects of economic development - from immediate policy concerns to structural problems of underdevelopment. The emphasis is on quantitative or analytical work, which is relevant as well as intellectually stimulating.
期刊最新文献
Editorial Board On the properties of the two main types of global poverty lines The local human capital costs of oil exploitation Cover more for less: Targeted drug coverage, chronic disease management, and medical spending Corrigendum to “Rural road stimulus and the role of matching mandates on economic recovery in China” [J. Dev. Econ. 166, (January 2024), 103211]
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