Natural resource abundance, financial development and economic growth: An investigation on Next-11 countries

Erdoğan, Seyfettin; Yıldırım, Durmuş Çağrı; Gedikli, Ayfer

doi:10.1016/j.resourpol.2019.101559

Cited by 192 publications

(74 citation statements)

References 39 publications

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“…Furthermore, Erdoğan et al (2020) studied the relationship between natural resources exports on economic growth and the level of financial deepening for selected N-11 for the period 1996-2016 and found that where financial deepening is over 45%, a unit increase in export brings about a 7% increase in economic growth. Even though this study pertains to fossil fuels, the N-11 countries stand to benefit if they apply this approach to the consumption of the renewables and green the financial sector.…”

Section: Literature Reviewmentioning

confidence: 99%

“…The contribution of our study is to the best of our knowledge, and it is the only paper that uses the DID method to analyze green energy finance and climate change mitigation among N-11 countries for the period 2000-2019 and the BRICS. A couple of studies have been done on N-11 countries such as Sinha et al (2020), Padhan et al 2018, Yildirim et al (2014), and Erdoğan, Yıldırım, et al (2020). All these applied an econometric method in their analysis.…”

Section: Introductionmentioning

confidence: 99%

See 1 more Smart Citation

Nexus between green finance and climate change mitigation in N-11 and BRICS countries: empirical estimation through difference in differences (DID) approach

Nawaz

Seshadri

Kumar

et al. 2020

Environ Sci Pollut Res

271

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Green finance is inextricably linked to investment risk, particularly in emerging and developing economies (EMDE). This study uses the difference in differences (DID) method to evaluate the mean causal effects of a treatment on an outcome of the determinants of scaling up green financing and climate change mitigation in the N-11 countries from 2005 to 2019. After analyzing with a dummy for the treated countries, it was confirmed that the outcome covariates: rescon (renewable energy sources consumption), population, FDI, CO 2 , inflation, technical corporation grants, domestic credit to the private sector, and research and development are very significant in promoting green financing and climate change mitigation in the study countries. The probit regression results give a different outcome, as rescon, FID, CO 2 , Human Development Index (HDI), and investment in the energy sector by the private sector that will likely have an impact on the green financing and climate change mitigation of the study countries. Furthermore, after matching the analysis through the nearest neighbor matching, kernel matching, and radius matching, it produced mixed results for both the treated and the untreated countries. Either group experienced an improvement in green financing and climate change mitigation or a decrease. Overall, the DID showed no significant difference among the countries.

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Section: Literature Reviewmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Nexus between green finance and climate change mitigation in N-11 and BRICS countries: empirical estimation through difference in differences (DID) approach

Nawaz

Seshadri

Kumar

et al. 2020

Environ Sci Pollut Res

271

View full text Add to dashboard Cite

show abstract

“…However, in the context of unsustainable use/exports of natural resources, natural resource‐rich countries may experience environmental challenges, including deforestation, water and electricity shortage, and climate change. A survey of the literature showed that many studies examined the relations between natural resources and economic progress (S. Adams & Nsiah, 2019; Auty, 2001; Ben‐Salha et al, 2018; Erdoğan, Yıldırım, & Gedikli, 2020; Namazi & Mohammadi, 2018; Ross, 2015; Wu et al, 2018), but, earlier work has ignored the effect of natural resources on environmental degradation.…”

Section: Previous Studiesmentioning

confidence: 99%

The role of natural resources abundance and dependence in achieving environmental sustainability: Evidence from resource‐based economies

Erdoğan

Çakar

Ulucak

et al. 2020

Sustainable Development

Self Cite

175

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Proper use and efficient management of natural resources are critical to shaping a sustainable future in many resource‐rich countries in Africa. It is also well‐known that globalization creates a great awareness for sustainable resource extraction and provides cleaner production technology transfers to underdeveloped countries and enables them to establish a sustainable development pattern. However, evidence on the role of globalization in reducing the environmental impacts of natural resources in resource‐based economies is relatively scant. This study investigates sustainable future strategies by examining the role of natural resources, globalization, human capital, and urbanization in shaping the ecological footprint that is a broader indicator of environmental sustainability. To this end, Sub‐Saharan African countries—endowed with a rich natural resource base ranging from arable land, forest, freshwater, marine resources, oil, natural gas, minerals, and wildlife—are analyzed through advanced estimation techniques. Empirical results show that both resource dependence and abundance complicate to design a sustainable future by increasing the pressure on the environment. Similarly, urbanization deteriorates ecological conditions in Sub‐Saharan African countries. However, globalization and human capital seem the main sources of a cleaner and sustainable environment. The findings of the study shed new light on the main role of globalization in providing cleaner practices to reverse the negative influence of natural resource dependence and/or abundance on environmental quality.

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“…Financial development plays a vital role in economic development due to the efficient utilization of funds by dynamic investment agents. A wide range of recent studies builds a positive link between financial development and economic growth (Durusu-Ciftci, Ispir, & Yetkiner, 2017;Erdoğan, Yıldırım, & Gedikli, 2020). Continuous development of financial markets also leads to improved financial transaction services, mobilized savings, and profitable enterprises (Agyemang, Gatsi, & Ansong, 2018;Ouma, Odongo, & Were, 2017).…”

Section: Literature Reviewmentioning

confidence: 99%

Do Transparency and Anti-Monopoly Policies Matter for Financial Development? Evidence from a Panel ARDL-PMG Approach

Zhang

Yahya

Pham

et al. 2021

Journal of Applied Economics

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Natural resource abundance, financial development and economic growth: An investigation on Next-11 countries

Cited by 192 publications

References 39 publications

Nexus between green finance and climate change mitigation in N-11 and BRICS countries: empirical estimation through difference in differences (DID) approach

Nexus between green finance and climate change mitigation in N-11 and BRICS countries: empirical estimation through difference in differences (DID) approach

The role of natural resources abundance and dependence in achieving environmental sustainability: Evidence from resource‐based economies

Do Transparency and Anti-Monopoly Policies Matter for Financial Development? Evidence from a Panel ARDL-PMG Approach

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