| Abstract: | Geographic analyses of how national policies of economic liberalization influence global patterns of economic activity often draw their conclusions from studies of the paradigmatic sectors of manufacturing and, to a lesser extent, services. There is, by contrast, relatively little work examining how neoliberal policy reforms in the developing world may be driving changes in the geography of primary sector (i.e., extractive) activities at the global scale. This article presents and analyzes new data on direct investment in the international mining industry. It reports methods and results from a research project to systematically map and evaluate changes in the commodity mix and geographical spread of mining‐related investment in the world economy since 1990. It confirms and quantifies what was hitherto anecdotal evidence of a geographic shift in investment during the 1990s away from mature targets toward a small number of “rising stars” in the developing world, following the adoption in many countries of neoliberal economic policies from the mid‐1980s onward. However, the findings challenge conventional interpretations of this shift as an investment “bonanza” in the periphery and highlight how recent investment trends are highly specific in geographical scope, concentrated within a few commodities, and how the allocation of investment between established and emerging targets is variable over both time and space. |
