IDEAS home Printed from https://ideas.repec.org/a/eee/jrpoli/v86y2023ipas0301420723008000.html
   My bibliography  Save this article

The effect of natural resource utilization efficency, financial development for the economic development In Asian Countries

Author

Listed:
  • Qiu, Kai
  • Liu, Chunli
  • Li, Ying

Abstract

Understanding the factors that influence economic development has drawn a lot of interest in light of the continuously changing economic environment of Asian nations. Using a Generalized Method of Moments (GMM) model, this research examines the link between natural resource use effectiveness, financial development, and economic growth in selected Asian nations from 2010 to 2021. The empirical research shows a positive and statistically significant association between natural resource consumption efficiency and economic development, highlighting the importance of resource management. Financial development also positively correlates with economic growth, highlighting the need for well-functioning financial systems. Economic growth is boosted by natural resource efficiency and financial development, indicating a synergistic effect. To promote economic development, policymakers in Asian countries should concentrate on improving resource management procedures.

Suggested Citation

  • Qiu, Kai & Liu, Chunli & Li, Ying, 2023. "The effect of natural resource utilization efficency, financial development for the economic development In Asian Countries," Resources Policy, Elsevier, vol. 86(PA).
    • Handle: RePEc:eee:jrpoli:v:86:y:2023:i:pa:s0301420723008000
    DOI: 10.1016/j.resourpol.2023.104089
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0301420723008000
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.resourpol.2023.104089?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Zhang, Dongyang & Mohsin, Muhammad & Rasheed, Abdul Khaliq & Chang, Youngho & Taghizadeh-Hesary, Farhad, 2021. "Public spending and green economic growth in BRI region: Mediating role of green finance," Energy Policy, Elsevier, vol. 153(C).
    2. Mohsin, Muhammad & Taghizadeh-Hesary, Farhad & Iqbal, Nadeem & Saydaliev, Hayot Berk, 2022. "The role of technological progress and renewable energy deployment in green economic growth," Renewable Energy, Elsevier, vol. 190(C), pages 777-787.
    3. Hongda Liu & Haifeng Zhao, 2022. "Upgrading models, evolutionary mechanisms and vertical cases of service-oriented manufacturing in SVC leading enterprises: Product-development and service-innovation for industry 4.0," Palgrave Communications, Palgrave Macmillan, vol. 9(1), pages 1-24, December.
    4. Mohsin, M. & Zhou, P. & Iqbal, N. & Shah, S.A.A., 2018. "Assessing oil supply security of South Asia," Energy, Elsevier, vol. 155(C), pages 438-447.
    5. Xiuzhen, Xie & Zheng, Wenxiu & Umair, Muhammad, 2022. "Testing the fluctuations of oil resource price volatility: A hurdle for economic recovery," Resources Policy, Elsevier, vol. 79(C).
    6. Liu, Fang & Umair, Muhammad & Gao, Junjun, 2023. "Assessing oil price volatility co-movement with stock market volatility through quantile regression approach," Resources Policy, Elsevier, vol. 81(C).
    7. Liu, Hongda & Wu, Wangqiang & Yao, Pinbo, 2022. "A study on the efficiency of pediatric healthcare services and its influencing factors in China ——estimation of a three-stage DEA model based on provincial-level data," Socio-Economic Planning Sciences, Elsevier, vol. 84(C).
    8. Chang, Lei & Qian, Chong & Dilanchiev, Azer, 2022. "Nexus between financial development and renewable energy: Empirical evidence from nonlinear autoregression distributed lag," Renewable Energy, Elsevier, vol. 193(C), pages 475-483.
    9. Naoyuki Yoshino & Ehsan Rasoulinezhad & Farhad Taghizadeh-Hesary, 2021. "Economic Impacts of Carbon Tax in a General Equilibrium Framework: Empirical Study of Japan," Journal of Environmental Assessment Policy and Management (JEAPM), World Scientific Publishing Co. Pte. Ltd., vol. 23(01n02), pages 1-25, June.
    10. Wang, Jianda & Wang, Kun & Dong, Kangyin & Zhang, Shiqiu, 2023. "Assessing the role of financial development in natural resource utilization efficiency: Does artificial intelligence technology matter?," Resources Policy, Elsevier, vol. 85(PA).
    11. Deborah A. Sunter & Sergio Castellanos & Daniel M. Kammen, 2019. "Disparities in rooftop photovoltaics deployment in the United States by race and ethnicity," Nature Sustainability, Nature, vol. 2(1), pages 71-76, January.
    12. Fang, Wei & Liu, Zhen & Surya Putra, Ahmad Romadhoni, 2022. "Role of research and development in green economic growth through renewable energy development: Empirical evidence from South Asia," Renewable Energy, Elsevier, vol. 194(C), pages 1142-1152.
    13. Liu, Junxia, 2019. "China's renewable energy law and policy: A critical review," Renewable and Sustainable Energy Reviews, Elsevier, vol. 99(C), pages 212-219.
    14. Li, ChangZheng & Umair, Muhammad, 2023. "Does green finance development goals affects renewable energy in China," Renewable Energy, Elsevier, vol. 203(C), pages 898-905.
    15. Taghizadeh-Hesary, Farhad & Phoumin, Han & Rasoulinezhad, Ehsan, 2022. "COVID-19 and regional solutions for mitigating the risk of SME finance in selected ASEAN member states," Economic Analysis and Policy, Elsevier, vol. 74(C), pages 506-525.
    16. Liu, Hongda & Huang, Feipeng & Huang, Jialiang, 2022. "Measuring the coordination decision of renewable energy as a natural resource contracts based on rights structure and corporate social responsibility from economic recovery," Resources Policy, Elsevier, vol. 78(C).
    17. Mohsin, Muhammad & Ullah, Hafeez & Iqbal, Nadeem & Iqbal, Wasim & Taghizadeh-Hesary, Farhad, 2021. "How external debt led to economic growth in South Asia: A policy perspective analysis from quantile regression," Economic Analysis and Policy, Elsevier, vol. 72(C), pages 423-437.
    18. Pan, Weihua & Cao, Hang & Liu, Ying, 2023. "“Green” innovation, privacy regulation and environmental policy," Renewable Energy, Elsevier, vol. 203(C), pages 245-254.
    19. Ehsan Rasoulinezhad, 2020. "Environmental Impact Assessment Analysis in the Kahak’s Wind Farm," Journal of Environmental Assessment Policy and Management (JEAPM), World Scientific Publishing Co. Pte. Ltd., vol. 22(01n02), pages 1-15, June.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Li, Junji & Wang, Rui & Aizhan, Duisebayeva & Karimzade, Mehriban, 2023. "Assessing the impacts of Covid-19 on stock exchange, gold prices, and financial markets: Fresh evidences from econometric analysis," Resources Policy, Elsevier, vol. 83(C).
    2. Fang, Ying & Fan, Ying & Haroon, Muhammad & Dilanchiev, Azer, 2023. "Exploring the relationship between global economic policy and volatility of crude futures: A two-factor GARCH-MIDAS analysis," Resources Policy, Elsevier, vol. 85(PA).
    3. Zhao, Shixiu & He, Xiaoyi & Faxritdinovna, Kenjayeva Umriya, 2023. "Does industrial structure changes matter in renewable energy development? Mediating role of green finance development," Renewable Energy, Elsevier, vol. 214(C), pages 350-358.
    4. Zhang, Rongxin & Aljumah, Ahmad Ibrahim & Ghardallou, Wafa & Li, Zeyun & Li, Jinhua & Cifuentes-Faura, Javier, 2023. "How economic development promotes the sustainability targets? Role of natural resources utilization," Resources Policy, Elsevier, vol. 85(PA).
    5. Tang, Qianning & Shahla, Rzayeva & Leyla, Aliyeva & Sevinj, Huseynova, 2023. "Moderating role of carbon emission and institutional stability on renewable energy across developing countries," Renewable Energy, Elsevier, vol. 209(C), pages 413-419.
    6. Kuang, Hewu & Liang, Yiyan & Zhao, Wenjia & Cai, Jiahong, 2023. "Impact of natural resources and technology on economic development and sustainable environment – Analysis of resources-energy-growth-environment linkages in BRICS," Resources Policy, Elsevier, vol. 85(PB).
    7. Cao, Zhenzi & Tao, Ling, 2023. "Green finance and economic resilience: Investigating the nexus with natural resources through econometric analysis," Economic Analysis and Policy, Elsevier, vol. 80(C), pages 929-940.
    8. Telfah, Sadeq & Chau, Ka Yin & Tran, Trung Kien & Bui, Anh Tuan & Tai, Nguyen Tan & Phan, Thi Thu Hien, 2023. "Role of financial markets and natural resource utilization in green economic recovery: Evidence from selected developing economies," Resources Policy, Elsevier, vol. 83(C).
    9. Zuo, Yun & Zhi, Kangquan & Pei, Yingshun & Zhuang, Wencan & Chen, Yanhua, 2023. "Combining the role of natural resources development and trade openness on economic growth: New evidence from linear and asymmetric analysis," Resources Policy, Elsevier, vol. 83(C).
    10. Hu, Bangyong & Guo, Man & Zhang, Shuwen, 2023. "The role of fiscal decentralization and natural resources markets in environmental sustainability in OECD," Resources Policy, Elsevier, vol. 85(PB).
    11. Xu, Zilin & Mohsin, Muhammad & Ullah, Kaleem & Ma, Xiaoyu, 2023. "Using econometric and machine learning models to forecast crude oil prices: Insights from economic history," Resources Policy, Elsevier, vol. 83(C).
    12. Dai, Li & Xiong, Yuyu, 2023. "Does the green finance development and renewable energy affect the economic recovery in Asian economies," Renewable Energy, Elsevier, vol. 216(C).
    13. Yin, Qingwei, 2023. "Nexus among financial development and equity market on green economic finance: Fresh insights from European Union," Renewable Energy, Elsevier, vol. 216(C).
    14. Sun, Gebing & Li, Guozhi & Dilanchiev, Azer & Kazimova, Asli, 2023. "Promotion of green financing: Role of renewable energy and energy transition in China," Renewable Energy, Elsevier, vol. 210(C), pages 769-775.
    15. Wang, Zheng & Feng, NaNa & Zuo, WenJin & Jia, YanHuai, 2024. "Sustainable recovery through efficient resource markets: Innovations and solutions," Resources Policy, Elsevier, vol. 88(C).
    16. Liu, Fang & Umair, Muhammad & Gao, Junjun, 2023. "Assessing oil price volatility co-movement with stock market volatility through quantile regression approach," Resources Policy, Elsevier, vol. 81(C).
    17. Xia, Yu, 2023. "Role of stock market return and natural resources utilisation on green economic development: Empirical evidence from China," Resources Policy, Elsevier, vol. 81(C).
    18. Xu, Lan & Wu, Yang, 2023. "Nexus between green finance, renewable energy and carbon emission: Empirical evidence from selected Asian economies," Renewable Energy, Elsevier, vol. 215(C).
    19. Liu, Xiaoyu & Zhao, Ti & Li, Ran, 2023. "Studying the green economic growth with clean energy and green finance: The role of financial policy," Renewable Energy, Elsevier, vol. 215(C).
    20. Chang, Lei & Taghizadeh-Hesary, Farhad & Mohsin, Muhammad, 2023. "Role of artificial intelligence on green economic development: Joint determinates of natural resources and green total factor productivity," Resources Policy, Elsevier, vol. 82(C).

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:jrpoli:v:86:y:2023:i:pa:s0301420723008000. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/inca/30467 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.