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Resource-backed loans and ecological efficiency of human development: Evidence from African countries

Author

Listed:
  • Yacouba Coulibaly

    (LEO - Laboratoire d'Économie d'Orleans [2022-...] - UO - Université d'Orléans - UT - Université de Tours - UCA - Université Clermont Auvergne)

Abstract

The main challenge for most African countries is to find an alternative source of funding that can meet the needs of present generation without jeopardizing the needs of the future generations. Indeed, budgetary pressures are as defaults and economic recessions, combined with difficulties in accessing financial markets, which are often triggered by a series of sovereign debt restructurings and defaults, and have led some resource-rich African countries to turn to resource-backed loans to finance infrastructure projects to achieve long-term sustainable development goals. In this paper, we use the entropy balancing method to test whether resource-backed loans have a causal impact on the ecological efficiency of human development of African economies. Across a battery of robustness checks, the estimation results indicate that resource-backed loans have a positive and statistically significant impact on ecological efficiency of human development. Nonetheless, when resource-backed loans are disaggregated to run the regressions, we find that oil-backed loans and minerals resource-backed loans increase ecological efficiency of human development while cocoa and tobacco resource-backed loans are negatively associated to ecological efficiency of human development. The main findings of the study suggest that resource-backed loans agreements in general, and cocoa and tobacco in particular, should include strict clean development provisions and the implementation of actions to mitigate the negative environmental impact of these loans for borrowing countries.
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Yacouba Coulibaly, 2024. "Resource-backed loans and ecological efficiency of human development: Evidence from African countries," Post-Print hal-04721004, HAL.
    • Handle: RePEc:hal:journl:hal-04721004
    DOI: 10.1016/j.ecolecon.2024.108295
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    Cited by:

    1. Asiedu, Michael Kwame & Baafi, Joseph Antwi, 2025. "The effects of high indebtedness on natural resources extraction in Ghana," Resources Policy, Elsevier, vol. 107(C).
    2. Coulibaly, Yacouba, 2025. "The effects of resource-backed loans on deforestation: Evidence from developing countries," World Development, Elsevier, vol. 188(C).
    3. Dou, Shiquan & Zhu, Yongguang & Liu, Jiangyi & Xu, Deyi, 2024. "The power of mineral: Shock of the global supply chain from resource nationalism," World Development, Elsevier, vol. 184(C).
    4. Jingjing Li & Bin Wen & Rumei Qiu, 2024. "Research on the Non-Coordinated Coupling Relationship between Leisure Tourism and the Ecological Environment: A Case Study of the Ili Region in Xinjiang," Sustainability, MDPI, vol. 16(19), pages 1-21, September.
    5. Yang, Zixuan & Yu, Huang, 2025. "Unleashing the power of Energy Saving and Emission Reduction Fiscal Policy: Balancing urban ecological resilience and efficiency," Energy, Elsevier, vol. 327(C).

    More about this item

    JEL classification:

    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
    • Q43 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy and the Macroeconomy
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming
    • H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt

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