IDEAS home Printed from https://ideas.repec.org/a/eee/jrpoli/v89y2024ics0301420723012795.html
   My bibliography  Save this article

Blending financial innovation with natural resource utilization: Pathways to green economic expansion

Author

Listed:
  • Lei, Hao
  • Zhu, Yu
  • Tan, Jinlong
  • Zhang, Xiaofeng

Abstract

The paper examines the impact of natural resource use, green energy, and financial inclusion on the economic expansion rate of ASEAN countries between 2012 and 2022. The study utilizes the MMQR framework and finds that population increases, the use of natural resources, and the availability of renewable energy sources contribute to financial growth in ASEAN countries. The research suggests that governments should create financial regulations to expand access to financial services for ASEAN countries, which can boost economic growth. Efforts to increase access to financial services for ASEAN countries are recommended to enhance economic growth. The paper highlights the importance of the optimal use of natural resources, as it positively affects national economies. The relationship between carbon dioxide emissions, economic development, and alternative energy forms is another topic investigated in this research. Encouraging greater use of electric energy may help lower pollution, protect natural resources, and contribute to the expansion of the economy in a sustainable manner.

Suggested Citation

  • Lei, Hao & Zhu, Yu & Tan, Jinlong & Zhang, Xiaofeng, 2024. "Blending financial innovation with natural resource utilization: Pathways to green economic expansion," Resources Policy, Elsevier, vol. 89(C).
    • Handle: RePEc:eee:jrpoli:v:89:y:2024:i:c:s0301420723012795
    DOI: 10.1016/j.resourpol.2023.104568
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0301420723012795
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.resourpol.2023.104568?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. Pesaran, M Hashem & Timmermann, Allan, 1992. "A Simple Nonparametric Test of Predictive Performance," Journal of Business & Economic Statistics, American Statistical Association, vol. 10(4), pages 561-565, October.
    2. Xiuzhen, Xie & Zheng, Wenxiu & Umair, Muhammad, 2022. "Testing the fluctuations of oil resource price volatility: A hurdle for economic recovery," Resources Policy, Elsevier, vol. 79(C).
    3. Xiang Cui & Muhammad Umair & Ganijon Ibragimove Gayratovich & Azer Dilanchiev, 2023. "Do Remittances Mitigate Poverty? An Empirical Evidence From 15 Selected Asian Economies," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 68(04), pages 1447-1468, June.
    4. Haisheng Hu & Keshuai Xu, 2022. "Visualizing the Development of Research on Tourism Resilience With Mixed Methods," SAGE Open, , vol. 12(3), pages 21582440221, September.
    5. Li, ChangZheng & Umair, Muhammad, 2023. "Does green finance development goals affects renewable energy in China," Renewable Energy, Elsevier, vol. 203(C), pages 898-905.
    6. Frank Hanssen & Roel May & Jiska van Dijk & Jan Ketil Rød, 2018. "Spatial Multi-Criteria Decision Analysis Tool Suite for Consensus-Based Siting of Renewable Energy Structures," Journal of Environmental Assessment Policy and Management (JEAPM), World Scientific Publishing Co. Pte. Ltd., vol. 20(03), pages 1-28, September.
    7. Ambec, Stefan & Barla, Philippe, 2002. "A theoretical foundation of the Porter hypothesis," Economics Letters, Elsevier, vol. 75(3), pages 355-360, May.
    8. Patricia Ozoike-Dennis & Harry Spaling & A. John Sinclair & Heidi M. Walker, 2019. "SEA, Urban Plans and Solid Waste Management in Kenya: Participation and Learning for Sustainable Cities," Journal of Environmental Assessment Policy and Management (JEAPM), World Scientific Publishing Co. Pte. Ltd., vol. 21(04), pages 1-22, December.
    9. Taghizadeh-Hesary, Farhad & Yoshino, Naoyuki, 2019. "The way to induce private participation in green finance and investment," Finance Research Letters, Elsevier, vol. 31(C), pages 98-103.
    10. Hurriah Ali Hasan & Sabbar Dahham Sabbar & Siti Walida Mustamin & Muhammad Yahya & Rabeatul Husna Abdull Rahman & Hani Amer Musa & Baharuddin Jumaing, 2023. "Mapping the Environmental Education Policies for the Youth to Encourage Rural Development and to Reduce Urbanisation: Econometric Approach," Journal of Environmental Assessment Policy and Management (JEAPM), World Scientific Publishing Co. Pte. Ltd., vol. 25(03), pages 1-19, September.
    11. Yu, Mengyan & Umair, Muhammad & Oskenbayev, Yessengali & Karabayeva, Zhаnsaya, 2023. "Exploring the nexus between monetary uncertainty and volatility in global crude oil: A contemporary approach of regime-switching," Resources Policy, Elsevier, vol. 85(PB).
    12. Le, Thai-Ha & Le, Ha-Chi & Taghizadeh-Hesary, Farhad, 2020. "Does financial inclusion impact CO2 emissions? Evidence from Asia," Finance Research Letters, Elsevier, vol. 34(C).
    13. Taghizadeh-Hesary, Farhad & Rasoulinezhad, Ehsan & Yoshino, Naoyuki, 2019. "Energy and Food Security: Linkages through Price Volatility," Energy Policy, Elsevier, vol. 128(C), pages 796-806.
    14. Mohammad Radwan Mohammad Qudah & Abdul Razak Munir & Muhammad Sobarsyah & Sabbar Dahham Sabbar & Shahid Bashir & Mursalim Nohong & Arifuddin Mannan, 2023. "Enhancing Environmental Accounting Information Disclosure in Indonesian Enterprises: The Role of Environmental Management and Government Ownership," Journal of Environmental Assessment Policy and Management (JEAPM), World Scientific Publishing Co. Pte. Ltd., vol. 25(03), pages 1-26, September.
    15. Ning Zhu & Xiao Zhang & Xiaohang Ren & Lan Wang, 2023. "The Response of Corporate Innovation to Climate Policy Uncertainty: Evidence from China," Journal of Environmental Assessment Policy and Management (JEAPM), World Scientific Publishing Co. Pte. Ltd., vol. 25(02), pages 1-29, June.
    16. Liu, Fang & Umair, Muhammad & Gao, Junjun, 2023. "Assessing oil price volatility co-movement with stock market volatility through quantile regression approach," Resources Policy, Elsevier, vol. 81(C).
    17. Wu, Qihan & Yan, Dong & Umair, Muhammad, 2023. "Assessing the role of competitive intelligence and practices of dynamic capabilities in business accommodation of SMEs," Economic Analysis and Policy, Elsevier, vol. 77(C), pages 1103-1114.
    18. Taylor, Richard, 2022. "A qualitative model of mining company taxpayer behaviour in the Lao PDR," Resources Policy, Elsevier, vol. 78(C).
    Full references (including those not matched with items on IDEAS)

    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. Qi, Ruijuan & Ma, Guowei & Zhang, Qiwen & Liu, Chang & Wang, Qi, 2024. "Innovation for sustainability: Harnessing the power of efficient natural resource markets for a greener economic recovery," Resources Policy, Elsevier, vol. 88(C).
    2. Zhou, Yongbin & Liu, Yiying & Niu, Juanjuan, 2024. "Role of mineral-based industrialization in promoting economic growth: Implications for achieving environmental sustainability and social equity," Resources Policy, Elsevier, vol. 88(C).
    3. Sun, Yi & Gao, Junjun, 2023. "Natural resource endowment and its lmpact on ecological efficiency," Resources Policy, Elsevier, vol. 87(PB).
    4. Zuo, Zhenting & Cao, Rui & Teymurova, Vusala, 2024. "Unlocking natural resource potential: A balanced strategies for a fair and sustainable economic recovery," Resources Policy, Elsevier, vol. 89(C).
    5. Xiong, Wei & Jiang, Mengzhen & Tashkhodjaev, Mukhtorkhon & Pashayev, Zohrab, 2023. "Greening the economic recovery: Natural resource market efficiency as a key driver," Resources Policy, Elsevier, vol. 86(PB).
    6. Bin, Hu & Tuoyu, Li, 2024. "Greening the recovery: Natural resource sustainability and carbon assessment for financial development," Resources Policy, Elsevier, vol. 89(C).
    7. Kong, Jiangwei & Gao, Mengxi, 2024. "Sustainable strategies for boosting profitability: Unveiling the connection between fiscal policy and natural resource efficiency," Resources Policy, Elsevier, vol. 88(C).
    8. Liu, Shan & Zhong, Chun, 2024. "Green growth: Intellectual property conflicts and prospects in the extraction of natural resources for sustainable development," Resources Policy, Elsevier, vol. 89(C).
    9. Liu, Xiujuan, 2024. "A regenerative paradigm: Fostering economic recovery by harnessing natural resource efficiency for lasting sustainability," Resources Policy, Elsevier, vol. 88(C).
    10. Sun, Jiaqi & Li, Ping & Wang, Yunqiao, 2024. "Policy tools for sustainability: Evaluating the effectiveness of fiscal measures in natural resource efficiency," Resources Policy, Elsevier, vol. 89(C).
    11. Xiaoxin, Zhang, 2024. "Greening the bottom line: Unlocking efficiency in natural resource markets for resilience," Resources Policy, Elsevier, vol. 89(C).
    12. Xu, Lan & Tang, Shuxiang, 2024. "Sustainable development: Maximizing productivity in natural resource markets for a more ecologically friendly future," Resources Policy, Elsevier, vol. 89(C).
    13. Song, Yanan & Hua, Xiaolong, 2024. "The role of carbon taxation in promoting a green economy for sustainability: Optimizing natural resource efficiency," Resources Policy, Elsevier, vol. 91(C).
    14. Zhang, Xuenan & Zhang, Jinxin & Wang, Hongling, 2024. "Resilient recovery strategies: Enhancing resiliency in natural resource markets for sustainable development," Resources Policy, Elsevier, vol. 90(C).
    15. Yu, Miaozhi & Wang, Yifan & Umair, Muhammad, 2024. "Minor mining, major influence: Economic implications and policy challenges of artisanal gold mining," Resources Policy, Elsevier, vol. 91(C).
    16. Zhong, Xingxing & Zhao, Lei, 2024. "Alternative economic strategies for an ecological resurrection: The case of natural resource markets," Resources Policy, Elsevier, vol. 90(C).
    17. Wang, Yan & Yang, Tianxiao & Liu, Zhaomin & Chi, Zhong & Lu, Lili, 2024. "Combining natural resources to drive technology and efficiency for a greener economic recovery," Resources Policy, Elsevier, vol. 89(C).
    18. Bai, Bing, 2023. "Fiscal stimulus and natural resource efficiency: A comprehensive approach to a green economic recovery," Resources Policy, Elsevier, vol. 86(PB).
    19. Meng, Fanting, 2024. "Driving sustainable development: Fiscal policy and the promotion of natural resource efficiency," Resources Policy, Elsevier, vol. 90(C).
    20. Li, Zerong & Li, Lan & Hui, Mo, 2024. "Fostering green economic growth through sustainable management of natural resources," Resources Policy, Elsevier, vol. 91(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:89:y:2024:i:c:s0301420723012795. 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.