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Evaluating carbon tax impact on natural resource extraction in developing regions: Implicating green recovery

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  • Du, Panpan
  • Li, Qiliang

Abstract

This study investigates the impact of carbon taxes on fossil fuel extraction in 13 Asian developing economies from 2000 to 2022. The results affirm that a 1% increase in environmental tax revenues correlates with a notable long-term reduction of 0.16% in extraction. Notably, a 1% increase in patent applications reveals an unexpected connection, manifesting as a 0.9% short-term increase and a 0.19% long-term rise in fossil fuel extraction. A 1% increase in green power generation is associated with a short-term reduction of 0.28% and a long-term reduction of 0.32% in fossil fuel extraction. Sustainable utility imports contribute to a decrease in extraction, while urban population growth amplifies it in both the short and long term, highlighting the importance of sustainable urban planning. To promote environmentally friendly fossil fuel extraction, Asian developing economies can implement an effective carbon taxation system that includes standardized carbon reporting, carbon auditing AI systems, and robust big data analysis.

Suggested Citation

  • Du, Panpan & Li, Qiliang, 2024. "Evaluating carbon tax impact on natural resource extraction in developing regions: Implicating green recovery," Resources Policy, Elsevier, vol. 89(C).
    • Handle: RePEc:eee:jrpoli:v:89:y:2024:i:c:s0301420723012412
    DOI: 10.1016/j.resourpol.2023.104530
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    More about this item

    Keywords

    Natural resource extraction; Green recovery; Carbon taxation system; Fossil fuel deployment; Asian developing countries;
    All these keywords.

    JEL classification:

    • Q41 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Demand and Supply; Prices
    • Q58 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Government Policy
    • Q32 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Exhaustible Resources and Economic Development
    • O53 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East
    • C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models

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