Resource nationalism, a complex phenomenon with economic, political, and cultural dimensions, is influenced by global mineral market dynamics and the internal "economic-political" systems of resource-rich countries. This study uses two-tier game theory to analyze resource nationalist behavior, examining 261 cases since 1990. Quantitative analysis reveals that rising mineral prices are the primary trigger, but ideology, institutional quality, social climate, and economic dependence also play significant roles. The study concludes that global trade imbalances are at the root of resource nationalism, that it represents resource-rich countries' pursuit of benefits from their endowments, and that it's not a zero-sum game. Relevant stakeholders should maintain strategic reserves to manage potential risks.

Deyi Xu, Shiquan Dou, Yongguang Zhu, Jinhua Cheng