查看更多>>摘要：? 2022 Elsevier LtdEnvironmental quality became the major concern as the world shifted towards sustainable development. The environmental quality related natural resource literature mostly used ecological footprints and CO2 emission to represent environmental quality. This paper developed a comprehensive environmental quality indicator and explored the impact of natural resources on environmental quality among Chinese provinces from 1995 to 2017. Considering cross sectional dependence, second generation unit root and co-integration tests with the Pooled Mean Group are used as a benchmark model. The robustness of results is checked with the Fully Modified Ordinary Least Squared and causality test. The aggregate sample outcomes confirmed the adverse impact of natural resources, economic development, urbanization, industrialization, income inequality, nonrenewable energy and population growth on environmental quality in the long-run. However, technological progress, environmental regulations and renewable energy improve environmental quality. Furthermore, natural resources deteriorate the environment in central and western provinces but improve environmental quality in the eastern region in the long-run. The causality analysis confirmed a unidirectional causality among variables. The robustness results also established that the impact of natural resources on environmental quality varies among regions. This study offers substantial policy suggestions for central and local governments to promote sustainable development.
查看更多>>摘要：? 2022From the economic perspective, China has made remarkable progress, yet, environmental concerns represent an alarm to the country's long-term prosperity. The associated relationship between green investment, natural resources, green technology innovation, and economic growth has important implications for the environment. Therefore, the present study attempts to investigate the effect of green investment, natural resources, green technology innovation, and economic growth on the ecological footprint in China. For this purpose, the present study utilized the NARDL approach using data from 2000 to 2018. The findings demonstrate that green investment, natural resources, green technology investment, and economic development have a significant positive short- and long-run relationship with the ecological footprint. As a result, it is directed to China government to raise green investment, a strict regulatory environment for the control of natural resources rent, as well as green technology innovation that enables optimum efficiency with little environmental impact, specifically on ecological footprint.
查看更多>>摘要：? 2022 Elsevier LtdThe role of natural resource rents and energy to determine ecological footprints is considerably studied. However, the literature on energy structure and economic policy uncertainty are uncommon in emerging economies. So, this study is designed to investigate the nexus of natural resource rents (NRR), economic policy uncertainty (EPU), energy structure (ES), and ecological footprints (EF) under the “Environment Kuznets Curve (EKC) hypothesis” in emerging seven (E7) panel countries. For empirical evidence, data from 1992 to 2020 is used with robust econometric estimations. Findings report the absence of the EKC hypothesis for the E7 economies. Energy structure is supporting to limit the ecological footprints thereby helping to clean the environment. However, the role of NRR and EPU to limit the EF is not supportive. Emerging economies should re-consider the economic policies' uncertainty, natural resources’ rents, and rapid urbanization to avoid environmental degradation.
查看更多>>摘要：? 2022 Elsevier LtdThe determining factors of natural resource volatility are crucial to its practical implication. Although there are numerous factors and indicators of natural resources volatility.However, the most important indicators are yet to explore in case of the developed nations. Unlike other studies, this study investigates various impactful economic and non economic indicators of natural resources in the group of seven economies. From 1990 to 2020, this study employs various econometric techniques, slope coefficient heterogeneity, cross-section dependence, second-generation unit root, and cointegration test. Whereas augmented mean group and the mean group estimators are used as long-run estimators. Specifically, this study uses GDP, energy-related inflation, globalization, and human capital index as a set of explanatory variables. The empirical outcomes demonstrate all the study variables are cointegrated. Also, three variables: GDP, energy-related inflation, and human capital, are significantly and positively associated with natural resources volatility. Where an increase in each of these variables substantially promotes natural resources. In contrast, globalization is negatively associated with natural resources volatility. These results are robust, as confirmed by the fully modified ordinary least square, dynamic ordinary least square, and common correlated effect mean group. Following empirical findings, this study commends policies regarding the regulation of energy-related inflation, revising policies regarding globalization, and enhancing human capital such as education and technical skills to enhance natural resources rents.
查看更多>>摘要：? 2022 Elsevier LtdChina has been facing increased economic as well as global pressure to indulge in accurate resource management and to look towards the resolution of major environmental issues. Hence, it is vital to study the impact of sustainability strategies like green growth and green trade in the perspective of China. In this view, the present study investigated the association between green growth and green trade in China on the usage of natural resources of energy (coal, gas, and oil) for the period of 1980–2020. Auto-regressive distributed lag, ARDL bounds test for co-integration, and pairwise granger causality tests were used to test the impact that the variables have on each other. The empirical results revealed that efficient resource use can increase significantly in response to an increased green growth of the Chinese economy and green trade policies. These findings suggest that environmental burdens can be minimized by reducing the use of natural resources like coal that contribute to air pollution. This study is significant as it suggests policies for the implementation of green environment and economic strategies in China and suggests that a reduced usage of natural energy resources can lead to a positive outcome of green growth and green trade in China.
查看更多>>摘要：? 2022 Elsevier LtdGiven the significant concerns of currency devaluation and level of inflation in Indonesia, we measure their dynamic connectedness and cross-quantile dependence with prominent export items such as crude palm oil price and coal price. To this end, we apply the frequency connectedness approach and Cross-Quantilogram approach to measure volatility spillover utilising daily data from 2002 to 2021. The frequency connectivity analysis coincides with our proposition that exchange rate and inflation substantially respond to coal and crude palm oil prices. Next, we apply the cross-quantilogram framework to examine the cross-quantile dependence between exchange rate and other variables to capture the spillovers between these markets considering a wide range of market conditions. Our empirical analysis demonstrates that exchange and inflation are connected during extreme market volatility when they boom together. The exchange rate responds to palm oil price at the extreme quantile of the exchange rate in long-term horizons. The degree of connectedness between exchange rate and coal price is profound at the higher quantile in the long run horizon while it dissipates in the short run. Our findings provide important policy implications to the energy and monetary authority of Indonesia.
查看更多>>摘要：? 2022 Elsevier LtdThe impact of resource tax on the sustainable development of micro-firms is still unknown. Using a unique micro-level dataset containing 5796 mining firms from 2008 to 2011, this study constructs an econometric model to examine the influence of resource tax on the economic and environmental performance of Chinese mining firms. The results show that resource tax has a significant positive impact on the economic and environmental performance of China's mining firms. Overall, a 1% increase in resource tax increases mining firm's total factor productivity by 0.1280% and decreases its carbon intensity by 0.0167%. The conclusion remains valid after alleviating the self-selection bias and endogeneity problems, and it also passes a series of robustness tests. Heterogeneity analysis shows that resource tax has a more significant effect on the economic and environmental performance of private mining firms, mining firms with high energy consumption, and mining firms in the eastern and western regions. In addition, resource tax promotes mining firms' technological innovation and improves their resource allocation efficiency, thereby benefiting the sustainable development. Further analysis shows that resource tax has anti-driving effect and incentive effect on technological innovation, mainly reflected in increasing the external pressure of mining firms and stimulating their investment initiative.
查看更多>>摘要：? 2022 Elsevier LtdIn this study, we examine the frequency volatility spillovers, connectedness, and quantile dependence between precious metals futures (gold, palladium, platinum, and silver) and the main US foreign exchange rates of Australia, Canada, China, Eurozone, Japan, Switzerland, and the UK. We use them as a hedging tool for developed currency markets. We further investigate the key drivers of frequency spillovers, before and during COVID-19, and the property of precious metals as a hedge and safe haven against currency risk exposure. We performed the quantile coherency analysis and found that the dependence is positive among the currencies and negative between currencies and precious material in most cases. Using the time-frequency spillovers analysis, we show that gold and silver are net transmitters of spillover to the other markets; however, palladium is a net receiver of spillover for all three horizons. The EUR is a net contributor of risk regardless of the time horizon. Using the quantile regression model, we demonstrate that the effect of the West Texas Intermediate crude oil price (WTI), Economic Policy Uncertainty (EPU) index, volatility index (VIX), and USD index (USDX) on total spillover varies over quantiles in terms of magnitude and direction. Finally, we show that all precious metals can be used as a strong hedge against these major currencies.
查看更多>>摘要：? 2022 Elsevier LtdThe topic of economics of critical minerals production has received little attention in the economics literature. This study presents a two-stage optimization model to frame the economics of critical minerals. In the first-stage, firms minimize cost to choose input levels, including the extraction of a common ore to produce a critical mineral with or after the production of a main mineral. We examine the impact of geological, cost, and technology parameters on the level of input use and the decision to further process for critical minerals. We characterize the marginal cost of producing critical minerals, which is used in the second stage to determine production decisions. Results suggest that (1) production of critical minerals could be expanded by investing in technically efficient technologies and technologies with increasing returns to scale, (2) prescriptive mandates requiring firms to process a given percentage of geological input to recover critical minerals would have unintended consequences such as increasing the marginal cost of producing main minerals, and (3) the supply elasticity of critical minerals depends on returns to scale of production.
查看更多>>摘要：? 2022 Elsevier LtdIn this study, we investigate the effect of oil price on the real GDP growth of Nigeria. We contribute to the extant literature on oil price-growth nexus in three ways. First, we employ one of the recently developed Mixed Data Sampling models owing to its ability to accommodate both high and low data frequencies in the same predictive model. Second, we examine the impact of crude oil price on aggregate as well as sectoral output growth, with focus on agriculture, industry and service sectors. Third, we account for the role of macroeconomic/control variables and crude oil price asymmetry. Our results show that accounting for crude oil price asymmetry and macroeconomic determinants increases the predictability of the ADL-MIDAS model for the oil price-growth nexus. On the aggregate, we find that negative oil price changes significantly reduce economic growth while positive oil price changes do not increase economic growth significantly. The sectoral analyses show that the service and industry sectors are more affected by the negative oil price changes than the agriculture sector. Overall, we conclude that the impact of government participation in the economy remains huge and the situation whereby recurrent to capital expenditure ratio of government is about 80/20 percent dampens the growth potential of the Nigerian economy. More investment in capital infrastructure relative to recurrent expenditure is recommended, to reduce the adverse effect of negative crude oil price on economic growth in Nigeria.
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