IDEAS home Printed from https://ideas.repec.org/a/eee/jrpoli/v86y2023ipbs0301420723008930.html
   My bibliography  Save this article

Revisiting the natural resources-financial development nexus in China: The importance of economic policy uncertainty

Author

Listed:
  • Sun, Yizhong
  • Jin, Keyan
  • Wang, Deyong
  • Wu, Qingyang
  • Li, Zhezhou

Abstract

The existing literature extensively probes how natural resources impact financial development, however, there is no evidence on the role of economic policy uncertainty amidst the natural resources-financial development nexus. Moreover, the prior literature ignores the effect of structural breaks while estimating the parameters. Based on such arguments, this study investigates the combine impact of natural resources and economic policy uncertainty on financial development in case of China for the period of 1989–2021. In doing so, we apply noval econometric approach which handles the structural breaks named as Fourier Autoregressive Distributed Lag (FARDL) aaproach. Our findings show that natural resources escalate financial development, however, the synergy of natural resources and economic policy uncertainty plunges financial development across the long-run and short-run. Further, we run sensitivity analysis and find the results similar to the baseline outcomes. The results compel us to suggest some policy recommendations. For instance, policymakers should strive to control economic policy uncertainty in China for the promotion of financial development.

Suggested Citation

  • Sun, Yizhong & Jin, Keyan & Wang, Deyong & Wu, Qingyang & Li, Zhezhou, 2023. "Revisiting the natural resources-financial development nexus in China: The importance of economic policy uncertainty," Resources Policy, Elsevier, vol. 86(PB).
    • Handle: RePEc:eee:jrpoli:v:86:y:2023:i:pb:s0301420723008930
    DOI: 10.1016/j.resourpol.2023.104182
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0301420723008930
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.resourpol.2023.104182?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. Chen Haibo & Emmanuel Kwaku Manu & Mary Somuah, 2023. "Examining Finance-Growth Nexus: Empirical Evidence From the Sub-Regional Economies of Africa," SAGE Open, , vol. 13(1), pages 21582440231, February.
    2. Farzaneh Ahmadian-Yazdi & Mahsa Mesgarani & Soheil Roudari, 2022. "Natural Resource Rents and Social Capital Interaction: New Evidence on the Role of Financial Development," Journal of Environmental Assessment Policy and Management (JEAPM), World Scientific Publishing Co. Pte. Ltd., vol. 24(01), pages 1-30, March.
    3. Segal, Gill & Shaliastovich, Ivan & Yaron, Amir, 2015. "Good and bad uncertainty: Macroeconomic and financial market implications," Journal of Financial Economics, Elsevier, vol. 117(2), pages 369-397.
    4. Ahmed Atil & Kishwar Nawaz & Amine Lahiani & David Roubaud, 2020. "Are natural resources a blessing or a curse for financial development in Pakistan? The importance of oil prices, economic growth and economic globalization," Post-Print hal-03676031, HAL.
    5. Gu, Jianqiang & Gouliamos, Kostas & Lobonţ, Oana-Ramona & Nicoleta-Claudia, Moldovan, 2021. "Is the fourth industrial revolution transforming the relationship between financial development and its determinants in emerging economies?," Technological Forecasting and Social Change, Elsevier, vol. 165(C).
    6. Gao, Yang & Li, Yangyang & Wang, Yaojun, 2021. "Risk spillover and network connectedness analysis of China’s green bond and financial markets: Evidence from financial events of 2015–2020," The North American Journal of Economics and Finance, Elsevier, vol. 57(C).
    7. Jae Sim & Egon Zakrajsek & Simon Gilchrist, 2010. "Uncertainty, Financial Frictions, and Investment Dynamics," 2010 Meeting Papers 1285, Society for Economic Dynamics.
    8. Wang, Guotao & Liao, Qi & Zhang, Haoran & Liang, Yongtu, 2022. "How government policies promote bioenergy’s permeability in national-level energy supply chain: A case of China," Applied Energy, Elsevier, vol. 324(C).
    9. Robert Dekle & Madhavi Pundit, 2016. "The Recent Convergence of Financial Development in Asia," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 52(5), pages 1106-1120, May.
    10. Doğan, Buhari & Chu, Lan Khanh & Ghosh, Sudeshna & Diep Truong, Huong Hoang & Balsalobre-Lorente, Daniel, 2022. "How environmental taxes and carbon emissions are related in the G7 economies?," Renewable Energy, Elsevier, vol. 187(C), pages 645-656.
    11. Jeffrey D. Sachs & Andrew M. Warner, 1995. "Natural Resource Abundance and Economic Growth," NBER Working Papers 5398, National Bureau of Economic Research, Inc.
    12. Chien, Fengsheng & Anwar, Ahsan & Hsu, Ching-Chi & Sharif, Arshian & Razzaq, Asif & Sinha, Avik, 2021. "The role of information and communication technology in encountering environmental degradation: Proposing an SDG framework for the BRICS countries," Technology in Society, Elsevier, vol. 65(C).
    13. Gallant, A. Ronald & Souza, Geraldo, 1991. "On the asymptotic normality of Fourier flexible form estimates," Journal of Econometrics, Elsevier, vol. 50(3), pages 329-353, December.
    14. Liu, Wenwen & Chen, Xue, 2022. "Natural resources commodity prices volatility and economic uncertainty: Evaluating the role of oil and gas rents in COVID-19," Resources Policy, Elsevier, vol. 76(C).
    15. Lee, Chien-Chiang & Lou, Runchi & Wang, Fuhao, 2023. "Digital financial inclusion and poverty alleviation: Evidence from the sustainable development of China," Economic Analysis and Policy, Elsevier, vol. 77(C), pages 418-434.
    16. Gallant, A. Ronald, 1981. "On the bias in flexible functional forms and an essentially unbiased form : The fourier flexible form," Journal of Econometrics, Elsevier, vol. 15(2), pages 211-245, February.
    17. Luca Rigotti & Chris Shannon, 2005. "Uncertainty and Risk in Financial Markets," Econometrica, Econometric Society, vol. 73(1), pages 203-243, January.
    18. Roberto Dell’Anno & Majid Maddah, 2022. "Natural resources, rent seeking and economic development. An analysis of the resource curse hypothesis for Iran," Macroeconomics and Finance in Emerging Market Economies, Taylor & Francis Journals, vol. 15(1), pages 47-65, January.
    19. Wang, Yizhong & Chen, Carl R. & Huang, Ying Sophie, 2014. "Economic policy uncertainty and corporate investment: Evidence from China," Pacific-Basin Finance Journal, Elsevier, vol. 26(C), pages 227-243.
    20. Hodler, Roland, 2006. "The curse of natural resources in fractionalized countries," European Economic Review, Elsevier, vol. 50(6), pages 1367-1386, August.
    21. Asif, Muhammad & Khan, Khan Burhan & Anser, Muhammad Khalid & Nassani, Abdelmohsen A. & Abro, Muhammad Moinuddin Qazi & Zaman, Khalid, 2020. "Dynamic interaction between financial development and natural resources: Evaluating the ‘Resource curse’ hypothesis," Resources Policy, Elsevier, vol. 65(C).
    22. Wang, Kai-Hua & Liu, Lu & Adebayo, Tomiwa Sunday & Lobon, Oana-Ramona & Claudia, Moldovan Nicoleta, 2021. "Fiscal decentralization, political stability and resources curse hypothesis: A case of fiscal decentralized economies," Resources Policy, Elsevier, vol. 72(C).
    23. Yu, Shiwei & Duan, Haoran & Cheng, Jinhua, 2021. "An evaluation of the supply risk for China's strategic metallic mineral resources," Resources Policy, Elsevier, vol. 70(C).
    24. Davidmac O. Ekeocha & Jonathan E. Ogbuabor & Oliver E. Ogbonna & Anthony Orji, 2023. "Economic policy uncertainty, governance institutions and economic performance in Africa: are there regional differences?," Economic Change and Restructuring, Springer, vol. 56(3), pages 1367-1431, June.
    25. M. Hashem Pesaran & Yongcheol Shin & Richard J. Smith, 2001. "Bounds testing approaches to the analysis of level relationships," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 16(3), pages 289-326.
    26. Wang, Lu & Luo, Gong-li & Sharif, Arshian & Dinca, Gheorghita, 2021. "Asymmetric dynamics and quantile dependency of the resource curse in the USA," Resources Policy, Elsevier, vol. 72(C).
    27. Tang, Chang & Irfan, Muhammad & Razzaq, Asif & Dagar, Vishal, 2022. "Natural resources and financial development: Role of business regulations in testing the resource-curse hypothesis in ASEAN countries," Resources Policy, Elsevier, vol. 76(C).
    28. Scott R. Baker & Nicholas Bloom & Steven J. Davis, 2016. "Measuring Economic Policy Uncertainty," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 131(4), pages 1593-1636.
    29. Yuxiang, Karl & Chen, Zhongchang, 2011. "Resource abundance and financial development: Evidence from China," Resources Policy, Elsevier, vol. 36(1), pages 72-79, March.
    30. Yanqi Cai & Junwei Xu & Paiman Ahmad & Ahsan Anwar, 2022. "What drives carbon emissions in the long-run? The role of renewable energy and agriculture in achieving the sustainable development goals," Economic Research-Ekonomska Istraživanja, Taylor & Francis Journals, vol. 35(1), pages 4603-4624, December.
    31. Danish, & Ulucak, Recep & Baloch, Muhammad Awais, 2023. "An empirical approach to the nexus between natural resources and environmental pollution: Do economic policy and environmental-related technologies make any difference?," Resources Policy, Elsevier, vol. 81(C).
    32. Carrière-Swallow, Yan & Céspedes, Luis Felipe, 2013. "The impact of uncertainty shocks in emerging economies," Journal of International Economics, Elsevier, vol. 90(2), pages 316-325.
    33. Onyinye I. Anthony-Orji & Anthony Orji & Jonathan E. Ogbuabor & Lucy C. Uka, 2023. "Money matters a lot: empirical analysis of financial development, financial inclusion and economic growth in Nigeria," International Journal of Economic Policy in Emerging Economies, Inderscience Enterprises Ltd, vol. 17(1), pages 100-117.
    34. Michael Appiah & Bright Akwasi Gyamfi & Tomiwa Sunday Adebayo & Festus Victor Bekun, 2023. "Do financial development, foreign direct investment, and economic growth enhance industrial development? Fresh evidence from Sub-Sahara African countries," Portuguese Economic Journal, Springer;Instituto Superior de Economia e Gestao, vol. 22(2), pages 203-227, May.
    35. Zaidi, Syed Anees Haider & Wei, Zixiang & Gedikli, Ayfer & Zafar, Muhammad Wasif & Hou, Fujun & Iftikhar, Yaser, 2019. "The impact of globalization, natural resources abundance, and human capital on financial development: Evidence from thirty-one OECD countries," Resources Policy, Elsevier, vol. 64(C).
    36. Gerhard Kling & Vanesa Pesqué-Cela & Lihui Tian & Deming Luo, 2022. "A theory of financial inclusion and income inequality," The European Journal of Finance, Taylor & Francis Journals, vol. 28(1), pages 137-157, January.
    37. Jhorland Ayala‐García & Sandy Dall'erba, 2021. "The natural resource curse: Evidence from the Colombian municipalities," Papers in Regional Science, Wiley Blackwell, vol. 100(2), pages 581-602, April.
    38. HAMI Mahyar, 2017. "The Effect Of Inflation On Financial Development Indicators In Iran (2000-2015)," Studies in Business and Economics, Lucian Blaga University of Sibiu, Faculty of Economic Sciences, vol. 12(2), pages 53-62, August.
    39. Chu, Lan Khanh & Ghosh, Sudeshna & Doğan, Buhari & Nguyen, Nam Hoai & Shahbaz, Muhammad, 2023. "Energy security as new determinant of renewable energy: The role of economic complexity in top energy users," Energy, Elsevier, vol. 263(PC).
    40. Cherif, Mondher & Dreger, Christian, 2016. "Institutional Determinants of Financial Development in MENA countries," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 20(3), pages 670-680.
    41. Payne, James E. & Truong, Huong Hoang Diep & Chu, Lan Khanh & Doğan, Buhari & Ghosh, Sudeshna, 2023. "The effect of economic complexity and energy security on measures of energy efficiency: Evidence from panel quantile analysis," Energy Policy, Elsevier, vol. 177(C).
    42. Ibrahim, Muazu & Sare, Yakubu Awudu, 2018. "Determinants of financial development in Africa: How robust is the interactive effect of trade openness and human capital?," Economic Analysis and Policy, Elsevier, vol. 60(C), pages 18-26.
    43. elias elhannani, farah & boussalem, abou bakr & Benbouziane, Mohamed, 2016. "Financial development and the oil curse: Evidence from Algeria," MPRA Paper 81866, University Library of Munich, Germany, revised May 2016.
    44. Olatunji Abdul Shobande & Joseph Onuche Enemona, 2021. "A Multivariate VAR Model for Evaluating Sustainable Finance and Natural Resource Curse in West Africa: Evidence from Nigeria and Ghana," Sustainability, MDPI, vol. 13(5), pages 1-15, March.
    45. Gaoke Liao & Dequan Yao & Zhihao Hu, 2020. "The Spatial Effect of the Efficiency of Regional Financial Resource Allocation from the Perspective of Internet Finance: Evidence from Chinese Provinces," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 56(6), pages 1211-1223, May.
    46. Hussain, Muzzammil & Bashir, Adnan & Wang, Chen & Wang, Yiwen, 2023. "World uncertainty, natural resources, consumer prices, and financial development in high-income countries," Resources Policy, Elsevier, vol. 81(C).
    47. Adams, Dawda & Adams, Kweku & Ullah, Subhan & Ullah, Farid, 2019. "Globalisation, governance, accountability and the natural resource ‘curse’: Implications for socio-economic growth of oil-rich developing countries," Resources Policy, Elsevier, vol. 61(C), pages 128-140.
    48. Yu Qian & Jun Liu & Jeffrey Yi-Lin Forrest, 2022. "Impact of financial agglomeration on regional green economic growth: evidence from China," Journal of Environmental Planning and Management, Taylor & Francis Journals, vol. 65(9), pages 1611-1636, July.
    49. Frederic S. Mishkin, 1999. "Global Financial Instability: Framework, Events, Issues," Journal of Economic Perspectives, American Economic Association, vol. 13(4), pages 3-20, Fall.
    50. Jiang, Chun & Zhang, Yadi & Kamran, Hafiz Waqas & Afshan, Sahar, 2021. "Understanding the dynamics of the resource curse and financial development in China? A novel evidence based on QARDL model," Resources Policy, Elsevier, vol. 72(C).
    51. Pei-Fen Chen & Chien-Chiang Lee & Jhih-Hong Zeng, 2019. "Economic policy uncertainty and firm investment: evidence from the U.S. market," Applied Economics, Taylor & Francis Journals, vol. 51(31), pages 3423-3435, July.
    52. Atil, Ahmed & Nawaz, Kishwar & Lahiani, Amine & Roubaud, David, 2020. "Are natural resources a blessing or a curse for financial development in Pakistan? The importance of oil prices, economic growth and economic globalization," Resources Policy, Elsevier, vol. 67(C).
    53. Barraza, Santiago & Civelli, Andrea, 2020. "Economic policy uncertainty and the supply of business loans," Journal of Banking & Finance, Elsevier, vol. 121(C).
    54. Dogan, Eyup & Majeed, Muhammad Tariq & Luni, Tania, 2021. "Analyzing the impacts of geopolitical risk and economic uncertainty on natural resources rents," Resources Policy, Elsevier, vol. 72(C).
    55. Siong Hook Law & Muzafar Shah Habibullah, 2009. "The Determinants Of Financial Development: Institutions, Openness And Financial Liberalisation," South African Journal of Economics, Economic Society of South Africa, vol. 77(1), pages 45-58, March.
    56. Sultan Salem & Noman Arshed & Ahsan Anwar & Mubasher Iqbal & Nyla Sattar, 2021. "Renewable Energy Consumption and Carbon Emissions—Testing Nonlinearity for Highly Carbon Emitting Countries," Sustainability, MDPI, vol. 13(21), pages 1-17, October.
    57. Khan, Muhammad Asif & Khan, Muhammad Atif & Abdulahi, Mohamued Elyas & Liaqat, Idrees & Shah, Sayyed Sadaqat Hussain, 2019. "Institutional quality and financial development: The United States perspective," Journal of Multinational Financial Management, Elsevier, vol. 49(C), pages 67-80.
    58. Liu, Ding & Sun, Weihong & Xu, Liao & Zhang, Xuan, 2023. "Time-frequency relationship between economic policy uncertainty and financial cycle in China: Evidence from wavelet analysis," Pacific-Basin Finance Journal, Elsevier, vol. 77(C).
    59. Si Mohammed, Kamel & Khalfaoui, Rabeh & Doğan, Buhari & Sharma, Gagan Deep & Mentel, Urszula, 2023. "The reaction of the metal and gold resource planning in the post-COVID-19 era and Russia-Ukrainian conflict: Role of fossil fuel markets for portfolio hedging strategies," Resources Policy, Elsevier, vol. 83(C).
    60. Gao Ling & Asif Razzaq & Yaqiong Guo & Tehreem Fatima & Farrukh Shahzad, 2022. "Asymmetric and time-varying linkages between carbon emissions, globalization, natural resources and financial development in China," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 24(5), pages 6702-6730, May.
    61. Ji, Xiangfeng & Song, Tianyu & Umar, Muhammad & Safi, Adnan, 2023. "How China is mitigating resource curse through infrastructural development?," Resources Policy, Elsevier, vol. 82(C).
    62. Su, Chi-Wei & Sun, Tiezhu & Ahmad, Shabbir & Mirza, Nawazish, 2021. "Does institutional quality and remittances inflow crowd-in private investment to avoid Dutch Disease? A case for emerging seven (E7) economies," Resources Policy, Elsevier, vol. 72(C).
    63. Li Liu & Ahsan Anwar & Esma Irmak & Irem Pelit, 2022. "Asymmetric linkages between public-private partnership, environmental innovation, and transport emissions," Economic Research-Ekonomska Istraživanja, Taylor & Francis Journals, vol. 35(1), pages 6519-6540, December.
    64. Amiri, Hossein & Samadian, Farzaneh & Yahoo, Masoud & Jamali, Seyed Jafar, 2019. "Natural resource abundance, institutional quality and manufacturing development: Evidence from resource-rich countries," Resources Policy, Elsevier, vol. 62(C), pages 550-560.
    65. Okada, Keisuke & Shinkuma, Takayoshi, 2022. "Transparency and natural resources in sub-Saharan Africa," Resources Policy, Elsevier, vol. 76(C).
    66. Ralf Becker & Walter Enders & Junsoo Lee, 2006. "A Stationarity Test in the Presence of an Unknown Number of Smooth Breaks," Journal of Time Series Analysis, Wiley Blackwell, vol. 27(3), pages 381-409, May.
    67. Umer Shahzad & Muhammad Ramzan & Muhammad Ibrahim Shah & Buhari DoÄŸan & Ahdi Noomen Ajmi, 2022. "Analyzing the Nexus Between Geopolitical Risk, Policy Uncertainty, and Tourist Arrivals: Evidence From the United States," Evaluation Review, , vol. 46(3), pages 266-295, June.
    68. Khan, Muhammad Atif & Gu, Lulu & Khan, Muhammad Asif & Oláh, Judit, 2020. "Natural resources and financial development: The role of institutional quality," Journal of Multinational Financial Management, Elsevier, vol. 56(C).
    69. Rabeh Khalfaoui & Heli Arminen & Buhari Doğan & Sudeshna Ghosh, 2023. "Environment-growth nexus and corruption in the MENA region: Novel evidence based on method of moments quantile estimations," Post-Print hal-04296378, HAL.
    70. Phan, Dinh Hoang Bach & Iyke, Bernard Njindan & Sharma, Susan Sunila & Affandi, Yoga, 2021. "Economic policy uncertainty and financial stability–Is there a relation?," Economic Modelling, Elsevier, vol. 94(C), pages 1018-1029.
    71. Habiba, Umme & Xinbang, Cao & Anwar, Ahsan, 2022. "Do green technology innovations, financial development, and renewable energy use help to curb carbon emissions?," Renewable Energy, Elsevier, vol. 193(C), pages 1082-1093.
    72. Liu, Guanchun & Zhang, Chengsi, 2020. "Economic policy uncertainty and firms' investment and financing decisions in China," China Economic Review, Elsevier, vol. 63(C).
    73. Jun, Wen & Mughal, Nafeesa & Zhao, Jin & Shabbir, Malik Shahzad & Niedbała, Gniewko & Jain, Vipin & Anwar, Ahsan, 2021. "Does globalization matter for environmental degradation? Nexus among energy consumption, economic growth, and carbon dioxide emission," Energy Policy, Elsevier, vol. 153(C).
    74. Paul Masson, 2014. "Macroprudential policies, commodity prices and capital inflows," BIS Papers chapters, in: Bank for International Settlements (ed.), The role of central banks in macroeconomic and financial stability, volume 76, pages 59-75, Bank for International Settlements.
    75. Abakah, Emmanuel Joel Aikins & Tiwari, Aviral Kumar & Ghosh, Sudeshna & Doğan, Buhari, 2023. "Dynamic effect of Bitcoin, fintech and artificial intelligence stocks on eco-friendly assets, Islamic stocks and conventional financial markets: Another look using quantile-based approaches," Technological Forecasting and Social Change, Elsevier, vol. 192(C).
    76. Ali, Adnan & Ramakrishnan, Suresh & Faisal,, 2022. "Financial development and natural resources. Is there a stock market resource curse?," Resources Policy, Elsevier, vol. 75(C).
    77. Hoang, Khanh & Nguyen, Cuong & Zhang, Hailiang, 2021. "How does economic policy uncertainty affect corporate diversification?," International Review of Economics & Finance, Elsevier, vol. 72(C), pages 254-269.
    78. Emenalo, Chukwunonye O. & Gagliardi, Francesca & Hodgson, Geoffrey M., 2018. "Historical institutional determinants of financial system development in Africa," Journal of Institutional Economics, Cambridge University Press, vol. 14(2), pages 345-372, April.
    79. Kizito Uyi Ehigiamusoe & Vinitha Guptan & Suresh Narayanan, 2021. "Rethinking the impact of GDP on financial development: Evidence from heterogeneous panels," African Development Review, African Development Bank, vol. 33(1), pages 1-13, March.
    80. Ding, Yuanyi, 2023. "Does natural resources cause sustainable financial development or resources curse? Evidence from group of seven economies," Resources Policy, Elsevier, vol. 81(C).
    81. Dai, Jiapeng & Ahmed, Zahoor & Sinha, Avik & Pata, Ugur Korkut & Alvarado, Rafael, 2023. "Sustainable green electricity, technological innovation, and ecological footprint: Does democratic accountability moderate the nexus?," Utilities Policy, Elsevier, vol. 82(C).
    82. Ahmad, Mahmood & Dai, Jiapeng & Mehmood, Usman & Abou Houran, Mohamad, 2023. "Renewable energy transition, resource richness, economic growth, and environmental quality: Assessing the role of financial globalization," Renewable Energy, Elsevier, vol. 216(C).
    83. Doğan, Buhari & Trabelsi, Nader & Tiwari, Aviral Kumar & Ghosh, Sudeshna, 2023. "Dynamic dependence and causality between crude oil, green bonds, commodities, geopolitical risks, and policy uncertainty," The Quarterly Review of Economics and Finance, Elsevier, vol. 89(C), pages 36-62.
    84. Yang, Jinxuan & Rizvi, Syed Kumail Abbas & Tan, Zhixiong & Umar, Muhammad & Koondhar, Mansoor Ahmed, 2021. "The competing role of natural gas and oil as fossil fuel and the non-linear dynamics of resource curse in Russia," Resources Policy, Elsevier, vol. 72(C).
    85. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Yu, Wanqing & Gan, Yufei & Zhou, Bingjun & Dai, Jiapeng, 2024. "Revisiting the economic policy uncertainty and resource rents nexus: Moderating impact of financial sector development in BRICS," International Review of Financial Analysis, Elsevier, vol. 94(C).
    2. Zhenjie Guo & Norita. E. Manly, 2024. "Unlocking the Economic Potential of Sports Lottery in China: A Knowledge-Based Economy Perspective Enhanced by Artificial Intelligence," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 15(3), pages 12919-12945, September.
    3. Wu, Qingyang & Li, Shanhong, 2024. "Decarbonization by digits: How data factors drive nonlinear sustainable dynamics in manufacturing," Applied Energy, Elsevier, vol. 374(C).
    4. Zhang, Jingyue & Tian, Grace Li & Yuan, Shengli & Tu, Yongqian, 2024. "Exploring the nexus between mineral policies, natural resource utilization, and green reforms for driving economic growth in China," Resources Policy, Elsevier, vol. 89(C).
    5. Wu, Qingyang, 2024. "Power play in carbon trading market: How status of executives with R&D background incentives companies’ low-carbon innovation," Energy Policy, Elsevier, vol. 188(C).

    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. Yang, Xue & Zhang, Peng & Zhao, Zuoxiang & Koondhar, Mansoor Ahmed, 2024. "How disaggregated natural resources rents affect financial development: From the perspective of sustainable development," Resources Policy, Elsevier, vol. 92(C).
    2. Çetin, Murat & Sarıgül, Sevgi Sümerli & Işık, Cem & Avcı, Pınar & Ahmad, Munir & Alvarado, Rafael, 2023. "The impact of natural resources, economic growth, savings, and current account balance on financial sector development: Theory and empirical evidence," Resources Policy, Elsevier, vol. 81(C).
    3. Raihan, Asif, 2024. "The influences of economic progress, natural resources, and capitalization on financial development in the United States," Innovation and Green Development, Elsevier, vol. 3(2).
    4. Zhou, Bingjun & Huang, Yan & Gao, Ke & Luo, Chunyang, 2024. "How geopolitical risk and economic policy uncertainty impact coal, natural gas, and oil rent? Evidence from China," Resources Policy, Elsevier, vol. 88(C).
    5. Ali, Adnan & Ramakrishnan, Suresh & Faisal,, 2022. "Financial development and natural resources. Is there a stock market resource curse?," Resources Policy, Elsevier, vol. 75(C).
    6. Ali, Adnan & Ramakrishnan, Suresh & Faisal, Faisal & Bazhair, Ayman Hassan & Sulimany, Hamid Ghazi H & Rahman, Sami Ur, 2024. "Does escaping the natural resource curse complement evading the financial resource curse too? Empirical evidence from Indonesia," International Review of Economics & Finance, Elsevier, vol. 91(C), pages 539-555.
    7. He, Jiao & Deng, Zhenghua, 2023. "Revisiting natural resources rents and sustainable financial development: Evaluating the role of mineral and forest for global data," Resources Policy, Elsevier, vol. 80(C).
    8. Li, Chuhan & Gong, Kai, 2023. "Does the resource curse hypothesis hold in China? Evaluating the role of trade liberalisation and gross capital formation," Resources Policy, Elsevier, vol. 86(PA).
    9. Faryal, & Faisal, Faisal & Amin, Muhammad Yusuf & Haq, Zahoor Ul & Rahman, Sami Ur & Ali, Adnan, 2023. "Natural resources revenues, shadow economy and financial institutions depth: The way forward," Resources Policy, Elsevier, vol. 85(PB).
    10. Hasanov, Fakhri J. & Aliyev, Ruslan & Taskin, Dilvin & Suleymanov, Elchin, 2023. "Oil rents and non-oil economic growth in CIS oil exporters. The role of financial development," Resources Policy, Elsevier, vol. 82(C).
    11. Chengyonghui, Duan & Ni, Soh Wei & San, Ong Tze & Rahim, Norhuda BT Abdul, 2023. "What role public debt plays to moderate the influence of natural resources on financial development? Appraising Resource-Curse Hypothesis in MENA Region," Resources Policy, Elsevier, vol. 86(PA).
    12. Gokmenoglu, Korhan K. & Rustamov, Bezhan, 2022. "The role of the natural resource abundance in the short and long run: The case of the Kingdom of Saudi Arabia," Resources Policy, Elsevier, vol. 77(C).
    13. Zheng, ShiYong & Liu, Hua & Hafeez, Muhammad & Wang, Xiaofeng & Fahad, Shah & Yue, Xiao-Guang, 2023. "Testing the resource curse hypothesis: The dynamic roles of institutional quality, inflation and growth for Dragon," Resources Policy, Elsevier, vol. 85(PA).
    14. Seda Yıldırım & Durmuş Çağrı Yıldırım & Seda H. Bostancı & Elif Nur Tarı, 2022. "Winner or loser? The asymmetric role of natural resource rents on financial development among resource‐rich countries," Sustainable Development, John Wiley & Sons, Ltd., vol. 30(6), pages 1921-1933, December.
    15. Syed, Qasim Raza & Durani, Farah & Kisswani, Khalid M. & Alola, Andrew Adewale & Siddiqui, Aaliyah & Anwar, Ahsan, 2024. "Testing natural resource curse hypothesis amidst geopolitical risk: Global evidence using novel Fourier augmented ARDL approach," Resources Policy, Elsevier, vol. 88(C).
    16. Oryani, Bahareh & Moridian, Ali & Sarkar, Biswajit & Rezania, Shahabaldin & Kamyab, Hesam & Khan, Muhammad Kamran, 2022. "Assessing the financial rеsоurсе curse hypothesis in Iran: Thе nоvеl dynаmiс АRDL approach," Resources Policy, Elsevier, vol. 78(C).
    17. Muhammad Atif Khan & Muhammad Asif Khan & Kishwar Ali & József Popp & Judit Oláh, 2020. "Natural Resource Rent and Finance: The Moderation Role of Institutions," Sustainability, MDPI, vol. 12(9), pages 1-23, May.
    18. Wang, Zhe & Teng, Yin-Pei & Wu, Shuzhao & Liu, Yuxiang & Liu, Xianchang, 2023. "Geopolitical risk, financial system and natural resources extraction: Evidence from China," Resources Policy, Elsevier, vol. 82(C).
    19. Shabir Mohsin Hashmi & Xuyou Yu & Qasim Raza Syed & Li Rong, 2024. "Testing the environmental Kuznets curve (EKC) hypothesis amidst climate policy uncertainty: sectoral analysis using the novel Fourier ARDL approach," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 26(7), pages 16503-16522, July.
    20. Qianqian, Ding & Bashir, Uzma & Chunqiao, Tan, 2024. "The criticality of natural resources in financial development: Does geopolitical risk make any difference?," Resources Policy, Elsevier, vol. 89(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:pb:s0301420723008930. 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.