Financial development and natural resources. Is there a stock market resource curse?

Ali, Adnan; Ramakrishnan, Suresh; Faisal, .

doi:10.1016/j.resourpol.2021.102457

Cited by 56 publications

(18 citation statements)

References 89 publications

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“…Similarly, along with QARDL, other econometric techniques are also emerging in the resource-finance nexus, such as CS-ARDL, NARDL, and Pedroni’s Panel Cointegration. Besides these, other recently developed econometric techniques with Fourier functions are yet to be introduced to the resources-finance nexus, such as Fourier GLS, Fourier ARDL, Fourier Bootstrap ARDL, etc., (Ali et al, 2022a ). Finally, the high average citations received by the keywords shows that these areas are highly cited in recent research on the resource-finance nexus.…”

Section: Resultsmentioning

confidence: 99%

“…These revenues/rents (used interchangeably) thus generated increase liquidity and make it easy for banks and financial markets such as the stock market to provide financial services such as loans and equities to households. small and medium businesses and large companies, and therefore, contribute to financial development as as well as economic growth (Ali et al, 2022a ; Beck, 2011 ; Dogan et al, 2020a ). Moreover, natural resource exports represent a competitive advantage to economies and are a significant source of foreign exchange revenues (Khan et al, 2019a ).…”

Section: Resultsmentioning

confidence: 99%

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Bibliometric analysis of finance and natural resources: past trend, current development, and future prospects

Ali

Ramakrishnan

Faisal

et al. 2022

Environ Dev Sustain

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The finance and natural resources revenue nexus play a critical role in an economy. The recent development and significant increase in academic literature regarding the resource-finance nexus are the primary motivations for conducting this study. This study aims to conduct a bibliometric analysis of 363 documents published between 1976 and 2021 collected from the Scopus database. The results have been demonstrated via graphs, tables, knowledge maps about the past trends, growth, and prospects using co-occurrence, co-authorship, and co-citation analysis via the VOSviewer tool. This study has identified prolific authors, journals, countries, academic institutions, and future pathways. The findings indicate that China has the highest share of publications (88, 24.2%), followed by Pakistan (58, 15.9%) and Turkey (37, 10.2%). The most productive academic institution is the Beijing Institute of Technology in China (13, 3.6%). This study proposes new avenues for further research concerning the resource-finance nexus, such as ecological footprint, sustainability, fiscal decentralization, green investment, energy prices, environmental quality, technological innovation, financial resource curse (especially the stock market resource curse), human capital, and renewable energy in policy development and sustainability towards the achievement of the SDGs.

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Section: Resultsmentioning

confidence: 99%

Section: Resultsmentioning

confidence: 99%

Bibliometric analysis of finance and natural resources: past trend, current development, and future prospects

Ali

Ramakrishnan

Faisal

et al. 2022

Environ Dev Sustain

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“…For example, a study by Nkoa and Song (2020) shows that improvements in institutions of governance increased financial services and financial education in Africa. A more recent study by Ali, Ramakrishnan, and Faisal (2022) shows that institutional quality moderated financial inclusion for 45 Organization of Islamic Cooperation (OIC) countries. This had a positive impact on financial development in these countries.…”

Section: Links Between Institutional Quality and Financial Developmentmentioning

confidence: 99%

Institutional quality, financial development and sustainable economic growth among lower income countries

Pradhan

Nair

Arvin

et al. 2023

Natural Resources Forum

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This article postulates strong endogenous relationships in lower income countries between institutional quality, financial development and sustained economic growth. These associations were investigated using the vector‐error correction model (VECM) and Granger causality method for a sample of 79 countries from 2005 to 2022. The findings show that (1) these variables reinforce each other in the short run. (2) In the long run, both institutional quality and financial development can fuel economic growth. (3) The positive effect of institutional quality on economic growth is greater than that of financial development. Policy implications of these findings are that careful attention should be paid to co‐development policies to enhance the institutional quality and the financial system in these economies. Policies should also consider economic growth strategies to enable sustainable economic growth rates.

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“…According to certain research, the availability of natural resources encourages financial development (Ali and Ramakrishnan, 2022;Shahbaz et al, 2018). The notion that natural resource capital has an impact on the financial sector through deposits and the funding side supports this claim.…”

Section: Literature Reviewmentioning

confidence: 99%

“…Some studies argue that the presence of natural resources stimulates financial development (Ali and Ramakrishnan, 2022;Shahbaz et al, 2018). The reason behind this positive relationship is that natural resource capital affects the financial sector through deposits and funding side.…”

Section: Introductionmentioning

confidence: 99%

Does natural resource curse in finance exist in Africa? Evidence from spatial techniques

Nurmakhanova

Elheddad

Alfar³

et al. 2023

Resources Policy

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Financial development and natural resources. Is there a stock market resource curse?

Cited by 56 publications

References 89 publications

Bibliometric analysis of finance and natural resources: past trend, current development, and future prospects

Bibliometric analysis of finance and natural resources: past trend, current development, and future prospects

Institutional quality, financial development and sustainable economic growth among lower income countries

Does natural resource curse in finance exist in Africa? Evidence from spatial techniques

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