Aggregate and disaggregate impact of natural resources on economic performance: Role of green growth and human capital

Khan, Zeeshan; Hossain, Mohammad Razib; Badeeb, Ramez Abubakr; Zhang, Changyong

doi:10.1016/j.resourpol.2022.103103

Cited by 158 publications

(22 citation statements)

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“…Furthermore, the study supports the green growth theory, which argues that economic growth and environmental sustainability are not mutually exclusive. This theory emphasises the importance of transitioning to renewable energy sources and implementing sustainable production and consumption practices to reduce carbon emissions while maintaining economic growth (Khan et al ., 2023; Hallegatte et al ., 2011; Schmalensee, 2012; Bowen and Hepburn, 2014; Smulders et al ., 2014)).…”

Section: Resultsmentioning

confidence: 99%

The dilemmas of relevance: exploring the role of natural resources and energy consumption in managing climate crisis in Africa

Shobande

Asongu

2023

MEQ

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PurposeThe study examines the role of natural resources (NRs) and energy consumption in managing the climate crisis in Africa, using annual series data from the World Bank from 1980 to 2019.Design/methodology/approachThe empirical strategy is based on the second-generation panel techniques that account for cross-sectional dependency in the series. Specifically, the empirical evidence is based on the Westerlund (2017) panel cointegration test, panel augmented mean group, common correlated effects mean group and the vector autoregressive (VAR)-vector error correction (VEC) approaches.FindingsEvidence from the panel analysis confirmed the existence of Carbon Kuznets Curve (CKC) U-shaped nexus in Africa, but the country-level results are mixed. Furthermore, results using the VAR-vector correction model indicate possible convergence among the variables across the African countries. NR unidirectionally Granger-causes carbon emissions. The authors suggest the consideration of environmental factors in the utilisation of NRs. Similarly, energy efficiency is crucial to decouple carbon from energy usage.Originality/valueThe study complements the extant literature by assessing the role of NRs and energy consumption in managing climate crisis in Africa.

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Section: Resultsmentioning

confidence: 99%

The dilemmas of relevance: exploring the role of natural resources and energy consumption in managing climate crisis in Africa

Shobande

Asongu

2023

MEQ

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“…In this regard, the study employs the panel dynamic ordinary least square (DOLS) approach, which offers more robust long-run estimates based on the mean influence of each regressor on the GF. Moreover, the research used the “pairwise Dumitrescu and Hurlin panel causality test” to determine the causation path, a concept supported by several empirical investigations (Khan et al, 2022; 2023).…”

Section: Methodsmentioning

confidence: 99%

Drivers of Sustainable Green Finance: Country’s Level Risk and Trade Perspective for OECD Countries

Wang,

Destek,

Weimei

et al. 2023

The Journal of Environment & Development

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In contemporary times, developed economies are adopting environmentally friendly initiatives such as green finance and energy efficiency. However, the factors affecting energy efficiency are widely explored, and green finance remains overlooked in the empirical literature. The present research examines the drivers of sustainable green finance in OECD economies during 2004–2021. The study uses several panel diagnostic tests and validates the mixed integration order of the variables. Still, the long-run equilibrium relationship is valid between financial inclusion, energy efficiency, human capital, foreign trade, composite risk, and green finance. Using panel autoregressive distributed lag model, the study found that financial inclusion, energy efficiency, foreign trade, and composite risk significantly improve green finance in the long run. However, only energy efficiency is effective in the short run. On the other hand, human capital exhibits a significant adverse influence on green finance. The long-run results are robust due to the significant estimates offered by panel dynamic ordinary least square. Besides, there exist one-way and two-way causal associations between variables. The study recommends improving the financial sector performance to enhance financial inclusivity, increase investment in the energy efficiency sector, and encourage trade in environmentally friendly initiatives.

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“…Liu et al (2022) argue that the level of education has a positive effect on GG. Similarly, Khan et al (2023) shows the significant impact of human capital on GG in G7 countries.…”

Section: Financial Determinants Of Green Growthmentioning

confidence: 96%

Macroeconomic and financial determinants of green growth: an empirical investigation on BRICS-T countries

Arzova,

Şahin

2023

MEQ

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PurposeThe purposes of this study are to contribute to the limited green growth (GG) literature in emerging markets, to analyze GG from a financial economy perspective and to determine the contribution of financial development and innovation to GG in Brazil, Russian Federation, India, China and South Africa and Türkiye (BRICS-T). BRICS-T countries significantly impact the world population, international politics, energy resources and economy. In addition, BRICS-T countries are one of the leading countries in the world with their sustainability efforts. Investigating the GG model in these countries may contribute to structuring emerging economies around the principles of GG and advancing global green transformation efforts.Design/methodology/approachThe authors applied panel data analysis from 2001 to 2019. GG is economic growth free from environmental depletion in the model. National income, personnel expenditure and foreign direct investments are macroeconomic variables. These variables measure economic development and promote economic and social progress, which is essential for GG. Capital accumulation and innovation are essential tools in GG transformation. Therefore, financial development and patent applications represent the moderating variables. The authors estimate the fixed effect model with Parks-Kmenta robust.FindingsEmpirical results show that national income growth and foreign direct investments positively affect GG. Personnel expenditure negatively affects GG. On the contrary, financial development and patent growth have little moderating role.Originality/valueThis study contributes to the literature on creating a GG model in emerging countries. The study is original in its model and sample.

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Aggregate and disaggregate impact of natural resources on economic performance: Role of green growth and human capital

Cited by 158 publications

References 100 publications

The dilemmas of relevance: exploring the role of natural resources and energy consumption in managing climate crisis in Africa

The dilemmas of relevance: exploring the role of natural resources and energy consumption in managing climate crisis in Africa

Drivers of Sustainable Green Finance: Country’s Level Risk and Trade Perspective for OECD Countries

Macroeconomic and financial determinants of green growth: an empirical investigation on BRICS-T countries

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