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Achieving common prosperity and green development through utilizing natural resources

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  • Xu, Chunguang
  • Li, Xiaohui

Abstract

Fossil fuels are considered essential to economic growth, social prosperity, and good human life. In this research, the authors tried to evaluate fossil fuel efficiency's impacts on common prosperity in 23 Chinese provinces from 2000 to 2021. The estimations of coefficients by the System-GMM confirmed that the efficiency of fossil fuel resources is the factor encouraging the creation and development of common prosperity in Chinese provinces. The increase in GDP and financial markets leads to the worsening of common prosperity in Chinese provinces. The price of electricity has an adverse effect (0.32%) on common prosperity; health costs also negatively affect general prosperity in Chinese provinces. As a significant policy, the Chinese government should boost sustainable power generation, develop financial diffusion, expand fossil fuels efficiency policy, and improve the performance of green financing in less developed provinces.

Suggested Citation

  • Xu, Chunguang & Li, Xiaohui, 2023. "Achieving common prosperity and green development through utilizing natural resources," Resources Policy, Elsevier, vol. 85(PB).
    • Handle: RePEc:eee:jrpoli:v:85:y:2023:i:pb:s0301420723005925
    DOI: 10.1016/j.resourpol.2023.103881
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    2. Zhang, Cheng & Zhu, Yuyao & Zhang, Limin, 2024. "Effect of digital inclusive finance on common prosperity and the underlying mechanisms," International Review of Financial Analysis, Elsevier, vol. 91(C).

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    More about this item

    Keywords

    Fossil fuels; Resource-efficiency; Common prosperity; Renewables; Chinese provinces; Panel data approach;
    All these keywords.

    JEL classification:

    • A13 - General Economics and Teaching - - General Economics - - - Relation of Economics to Social Values
    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • Q11 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Aggregate Supply and Demand Analysis; Prices
    • N51 - Economic History - - Agriculture, Natural Resources, Environment and Extractive Industries - - - U.S.; Canada: Pre-1913

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