Determination of resource curse hypothesis in mediation of financial development and clean energy sources: Go-for-green resource policies

The study examined the role of energy demand, natural resources, and financial development indicators on carbon (CO2) emissions, emissions from fossil fuel (FFUEL) combustion, and greenhouse gas (GHG) emissions in the context of Saudi Arabia for the period of 1975–2018. The results show that electri...

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Veröffentlicht in:Resources policy 2020-06, Vol.66, p.101640, Article 101640
Hauptverfasser: Anser, Muhammad Khalid, Yousaf, Zahid, Zaman, Khalid, Nassani, Abdelmohsen A., Alotaibi, Saad M., Jambari, Hanifah, Khan, Aqeel, Kabbani, Ahmad
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container_end_page
container_issue
container_start_page 101640
container_title Resources policy
container_volume 66
creator Anser, Muhammad Khalid
Yousaf, Zahid
Zaman, Khalid
Nassani, Abdelmohsen A.
Alotaibi, Saad M.
Jambari, Hanifah
Khan, Aqeel
Kabbani, Ahmad
description The study examined the role of energy demand, natural resources, and financial development indicators on carbon (CO2) emissions, emissions from fossil fuel (FFUEL) combustion, and greenhouse gas (GHG) emissions in the context of Saudi Arabia for the period of 1975–2018. The results show that electric power consumption increases CO2 emissions and GHG emissions while industry value added increases FFUEL combustion in a country. The study confirmed the U-shaped relationship between per capita income (GDPpc) and FFUEL combustion, whereas there is a monotonic increasing relationship between GDPpc and CO2 emissions in a given time period. There is a positive relationship between domestic credit to private sector (DCPS) and CO2 emissions & GHG emissions, which shows a negative impact on environmental degradation. The study verified the ‘pollution haven hypothesis’ in terms of increasing CO2 emissions and GHG emissions due to account of trade liberalization policies, while the ‘resource curse hypothesis’ is confirmed in relation of ores and metal (ORM) exports and FFUEL combustion. The following positive factors that will contribute in the Saudi vision 2030, i.e., oil rents, FDI inflows, energy prices, and trade openness will exert a positive variance shocks in terms of reduction in CO2 emissions, while electric power consumption, oil rents, and energy prices will substantially decreases FFUEL combustion over a time horizon. Finally, ORM exports, industrial value added, insurance and financial services, energy prices, trade openness, and merchandizing imports will decline GHG emissions over a next 10 years time period. •To evaluate financialization in natural resource market in line of Saudi’s vision of green development.•The ARCH regression is used to absorb the time-varying volatility in the financial and resource modeling.•The results show that energy demand increases carbon-GHG emissions.•Financial indicators increase carbon-fossil-GHG emissions in a country.•The study verified the ‘pollution haven hypothesis’ and ‘resource curse hypothesis’ in a given time period.
doi_str_mv 10.1016/j.resourpol.2020.101640
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The following positive factors that will contribute in the Saudi vision 2030, i.e., oil rents, FDI inflows, energy prices, and trade openness will exert a positive variance shocks in terms of reduction in CO2 emissions, while electric power consumption, oil rents, and energy prices will substantially decreases FFUEL combustion over a time horizon. Finally, ORM exports, industrial value added, insurance and financial services, energy prices, trade openness, and merchandizing imports will decline GHG emissions over a next 10 years time period. •To evaluate financialization in natural resource market in line of Saudi’s vision of green development.•The ARCH regression is used to absorb the time-varying volatility in the financial and resource modeling.•The results show that energy demand increases carbon-GHG emissions.•Financial indicators increase carbon-fossil-GHG emissions in a country.•The study verified the ‘pollution haven hypothesis’ and ‘resource curse hypothesis’ in a given time period.</abstract><cop>Kidlington</cop><pub>Elsevier Ltd</pub><doi>10.1016/j.resourpol.2020.101640</doi></addata></record>
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source Elsevier ScienceDirect Journals Complete; PAIS Index
subjects ARCH modeling
Carbon dioxide
Carbon-fossil-GHG emissions
Clean energy
Combustion
Consumption
Electric power
Electricity
Emissions trading
Energy development
Energy policy
Energy prices
Energy resources
Environmental degradation
Environmental impact
Environmental policy
Exports
Finance
Financial development
Financial services
Foreign investment
Fossil fuels
Free trade
Greenhouse effect
Greenhouse gases
Hypotheses
Imports
Insurance
International trade
Minerals
Natural resources
Oil rents
Openness
Ores
Petroleum
Pollution
Power
Power consumption
Prices
Private sector
Rents
Saudi Arabia
Trade liberalization
Value added
title Determination of resource curse hypothesis in mediation of financial development and clean energy sources: Go-for-green resource policies
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