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Impact of oil, gold, and energy prices on resources footprint: Evaluating the role of digital governance and financial development

Author

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  • Dong, Xueqin
  • Dong, Dongdong
  • Yu, Qing

Abstract

The exploitation of resources and excessive energy usage resulting from increasing industrialization are causing the deterioration of environmental sustainability, particularly in the BRICS region. Given this, we explore the linkages among energy price (oil, natural gas, gasoline), gold prices, digital governance, financial development and ecological footprints from 2003 to 2022. It applies Cross-sectional Autoregressive Distributed Lag (CS-ARDL) to address cross-sectional dependence and slope heterogeneity across variables and panels. The long-run estimates reveal that an increase in oil, natural gas, and gasoline prices negatively impacts the ecological footprints, implying that higher energy costs may lower these footprints through a reduction in demand. Similarly, digital governance lowers ecological footprints amid higher efficiency in government processes and systems. In contrast, financial development and gold prices are positively associated with ecological footprints. Similar findings are also supported by the Augmented Mean Group estimator and offer relevant policies.

Suggested Citation

  • Dong, Xueqin & Dong, Dongdong & Yu, Qing, 2024. "Impact of oil, gold, and energy prices on resources footprint: Evaluating the role of digital governance and financial development," Resources Policy, Elsevier, vol. 92(C).
    • Handle: RePEc:eee:jrpoli:v:92:y:2024:i:c:s0301420724003684
    DOI: 10.1016/j.resourpol.2024.105001
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