Re-visiting the resource curse hypothesis in the MINT economies

Adebayo, Tomiwa Sunday; Akadırı, Seyi Saint; Radmehr, Mehrshad; Awosusi, Abraham Ayobamiji

doi:10.1007/s11356-022-22785-4

Cited by 8 publications

(4 citation statements)

References 48 publications

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“…The coefficients of natural resources rent revealed a positive statistical significance with EQ, suggesting the resources curse hypothesis which is supported by the existing literature [113][114][115][116]. Based on this theory, countries with plentiful natural resources often experience adverse effects on their economic development and environmental health.…”

Section: Model To--->eq Fo--->eq Gti--->eq Nrr--->eq Et--->eq Y--->eqsupporting

confidence: 69%

Nexus between Innovation–Openness–Natural Resources–Environmental Quality in N-11 Countries: What Is the Role of Environmental Tax?

Qamruzzaman,

Karim,

Kor

2024

Sustainability

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This research investigates the intricate relationship between financial openness, natural resources, and carbon neutrality in the N-11 countries. It provides insights into how environmental tax and innovation can drive carbon neutrality in these nations, thus advancing our understanding of the nexus among financial openness, natural resources, and carbon neutrality. The study aims to offer policymakers perspectives on formulating policies to foster sustainable economic development and environmental conservation in the N-11 nations. The discourse highlights the environmental implications of foreign direct investment (FDI) and trade openness, revealing a complex interplay between economic development, technological innovation, and environmental sustainability. While FDI can facilitate technological transfers and managerial advancements that enhance resource efficiency and promote environmentally friendly practices, its environmental impact varies based on regulatory frameworks and enforcement mechanisms. In countries with weak environmental regulations, FDI may lead to negative outcomes such as pollution hotspots, resource depletion, and ecosystem degradation. Similarly, trade openness can exacerbate environmental degradation through increased production, energy consumption, and waste generation. However, both FDI and trade openness can contribute positively to environmental sustainability when coupled with effective environmental policies, investment in green technology, and the promotion of sustainable practices. Thus, policymakers must strike a balance between economic development and environmental protection by implementing stringent environmental regulations, promoting clean technology transfer, and fostering sustainable development practices domestically and internationally. This research offers valuable insights for policymakers aiming to navigate the complexities of achieving carbon neutrality while ensuring sustainable economic growth in the N-11 countries.

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Section: Model To--->eq Fo--->eq Gti--->eq Nrr--->eq Et--->eq Y--->eqsupporting

confidence: 69%

Nexus between Innovation–Openness–Natural Resources–Environmental Quality in N-11 Countries: What Is the Role of Environmental Tax?

Qamruzzaman,

Karim,

Kor

2024

Sustainability

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“…Moreover, it was also found that there is a negative relationship between REC and economic growth in South Africa, west African countries, Ghana, and 16 Asian countries, respectively [5,[62][63][64]. Likewise, the results of the QQR show negative effects on economic expansion in the majority of the quantiles in Indonesia and Turkey [57]. Some studies, however, concluded that no significant relationship exists between REC and NREC and economic growth [10,12,65].…”

Section: Plos Onementioning

confidence: 99%

“…Similarly, in China, CO 2 emissions are positively influenced by economic growth, coal consumption, and natural resources at all frequencies, or both in the short and long-run, leading to environmental degradation, using the Wavelet Local Multiple Correlation bivariate cases [56]. According to the study that utilised quantile-on-quantile regression (QQR) method, Nigeria and Mexico experienced positive effects of energy resources on economic growth in the majority of quantiles [57]. The positive impact of economic growth and non-renewable energy on renewable energy usage has been confirmed by research done in BRICST economies using panel quantile…”

Section: Developing Countriesmentioning

confidence: 99%

Nexus between carbon emissions, energy consumption, and economic growth: Evidence from global economies

Dissanayake,

Perera,

Abeykoon

et al. 2023

PLoS ONE

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Renewable energy holds a remarkable role in clean energy adaptation due to the much lower carbon footprint it releases compared to other fossil fuels. It also has a positive impact by slowing down the rate of climate change. The study has examined the links between renewable and non-renewable energy use, CO2 emissions and economic growth in developed, developing, and LDCs and Economies in Transition between 1990 and 2019 in 152 countries. Granger-causality has been used as the methodology to investigate the link between the variables. The findings of the existing studies on the relationship between the consumption of renewable and non-renewable energy sources and economic growth are inconsistent, indicating that there may or may not be a relationship between the two factors. Apart from having a few empirical studies so far have examined the link between the above-mentioned variables, analysis has yet to encompass all the regions in the four sub-groups discussed above. The results indicated that no Granger-causal relationship exists between GDP and REC outside of Economies in Transition. Additionally, the GDP and CO2 of all countries have a one-way relationship. Nevertheless, research indicates that GDP and CO2 have a bi-directional link in Economies in Transition, a uni-directional relationship in developing countries, and no meaningful association in developed and LDCs. Therefore, it is essential to emphasise actions to lower CO2 emissions and develop renewable energy while also stimulating the economy. Ultimately, more nations should choose renewable energy sources to build a more sustainable future.

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“…They found that the "resource curse" is valid in the context of bank expansion, whereas the "resource blessing" is valid in the context of stock market application. Another study (Adebayo et al 2022) used data from 1970 to 2019 to revisit Mexico, Indonesia, Nigeria, and Turkey countries. They found that Nigeria and Mexico are resource blessed, whereas Indonesia and Turkey experience a "resource curse".…”

Section: Empirical Literature Reviewmentioning

confidence: 99%

The role of natural resources in financial expansion: evidence from Central Asia

Isiksal¹

2023

Financ Innov

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Central Asian States (CAS) have diverse natural resources. This research aims to shed light on the finance–natural resource’s association in the context of CAS namely Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan in 1996–2020 using the cross-sectionally augmented autoregressive distributed lag technique. It seeks to examine the research question, “What is the effect of natural resource wealth on the financial expansion (FE) of Central Asia?” The results demonstrated an inverted U-shaped association between financial growth and natural resource rents. It implies that natural resources are initially a “resource blessing” that later becomes a “resource curse.” Additionally, the effect of institutional quality (INQ) and human development (HD) on financial growth is examined. The results reveal that INQ and HD positively affect FE. Moreover, a bidirectional causal relationship exists between FE and INQ. Finally, all variables contribute to a long term FE. Based on these outcomes, the major policy recommendations are that the CAS authorities diversify their financial services and products and direct the proceeds from natural resource rents to effective investments particularly in HD. In addition, the social and political infrastructures in CAS must be restructured to achieve a high-quality institutional environment, which is necessary to increase the role of the private sector.

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Re-visiting the resource curse hypothesis in the MINT economies

Cited by 8 publications

References 48 publications

Nexus between Innovation–Openness–Natural Resources–Environmental Quality in N-11 Countries: What Is the Role of Environmental Tax?

Nexus between Innovation–Openness–Natural Resources–Environmental Quality in N-11 Countries: What Is the Role of Environmental Tax?

Nexus between carbon emissions, energy consumption, and economic growth: Evidence from global economies

The role of natural resources in financial expansion: evidence from Central Asia

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