首页|Do natural resources impact economic growth:An investigation of P5+1 countries under sustainable management

Do natural resources impact economic growth:An investigation of P5+1 countries under sustainable management

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Natural resources represent the base of our living and the entire economic activity.Their depletion is a major challenge for the economic development of both developed and developing economies.Their effi-cient use is an indispensable requirement and must be the aim of the public policies designed by the authorities worldwide.In this research,we have investigated the impact of the natural resources rent on the economic growth in some major wealthy economies of the world(P5+1 countries namely:US,UK,France,China,Russia,and Germany).We have applied a quantile-on-quantile regression to analyse this impact on different quantiles and a cross-sectional autoregressive distributed lag(CS-ARDL)approach for the panel of these six countries.The Dumitrescu-Hurlin panel causality test was also used to check the causality between natural resource rents and economic growth in these countries.Results show a negative relationship between natural resources rent and economic growth for the panel but a different impact on quantiles in each country.Only for China and the US,a positive effect can be noticed for both lower and higher quantiles of natural resources and economic growth.The Dumitrescu-Hurlin causality test shows that natural resources can predict economic growth only in China,the U.S.,and the panel.In contrast,no causality was found for the other four countries included in the panel.We sug-gest that nations invest in wind and solar projects,use biofuels and nuclear energy,introduce a tempo-rary profit tax to protect consumers from escalating energy prices,and increase energy efficiency in buildings and industry.Businesses would benefit from a regulatory framework that is uniform and exhaustive,as well as easier to traverse and more receptive to innovation and creativity.Public-private partnership investments in innovation,innovation incentives,and environmental sector opportunities may foster long-term economic growth.

Natural resources rentEconomic growthQuantile-on-quantile regressionCross-sectional ARDLP5+1 countries

Sanjeet Singh、Gagan Deep Sharma、Magdalena Radulescu、Daniel Balsalobre-Lorente、Pooja Bansal

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University Centre for Research and Development,Chandigarh University,Gharuan,Mohali,Punjab,India

University School of Management Studies,Guru Gobind Singh Indraprastha University,Dwarka,Delhi,India

Department of Finance,Accounting and Economics,University of Pitesti,Pitesti 110040,Romania

Institute for Doctoral and Post-Doctoral Studies,University"Lucian Blaga"Sibiu,Sibiu 550024,Romania

Department of Applied Economics I,University of Castilla-La Mancha,Spain

Department of Management,Faculty of Economics and Management,Czech University of Life Sciences Prague,Prague 16500,Czech Republic

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2024

10.1016/j.gsf.2023.101595

地学前缘(英文版)
中国地质大学（北京） 北京大学

地学前缘(英文版)

CSTPCD
影响因子：0.576
ISSN：1674-9871
年,卷(期)：2024.15(3)
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