This study reassesses the resource-economic growth nexus by incorporating several channels. Panel time series techniques are used to analyze panel time series data from 1980 to 2015 in 31 oil-rich countries. The results show that oil rent augments economic growth; thus, oil rent is conducive for, rather than an impediment to, economic growth. The role of governance in economic growth is significant in the examined countries. Financial development is an unimportant channel in the resource-growth nexus because it is often unable to mobilize oil rent from the government to the private sector in oil-rich countries. Globalization is advantageous for countries as it promotes economic growth. Finally, war exerts a significant negative effect on growth in the long term.
Increasing the concentration of greenhouse gases is an essential factor in changing the world's climate. In many cases, the small changes in climate conditions can result in significant climatic changes, natural disasters, and economic losses. In this paper, the association of the CO 2 , as the most important greenhouse gas, with financial development, Gross Domestic Product (GDP) per capita, urbanization, and trade openness in Iran is investigated using fuzzy regression model from 1978 to 2013. According to the results, GDP, trade openness, and financial development have a positive impact on CO 2 emission. Also, the study results indicate that continuous increase in GDP has a negative impact on CO 2 emission. Due to the rising production of CO 2 in Iran, it is necessary that policymakers take appropriate environmental policies to protect the country from becoming a shelter for polluting industries because low environmental standards in the country are reviewed as a relative advantage. With regard to the benefits of financial development, the policymakers could take measures to increase the technology of production, attracting foreign investment, and lower energy consumption. They also can approve laws on industrial companies and force them to invest in environmental-friendly projects.
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