The role of forest resources, mineral resources, and oil extraction in economic progress of developing Asian economies
This study determines the role of natural resources’ utilization, foreign direct investment (FDI), and fossil fuel consumption in economic growth by utilizing panel data of 25 developing Asian countries from the period 1996 to 2016. Pool Mean Group (PMG) regression is used for this purpose, and the...
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| Veröffentlicht in: | Resources policy 2020-12, Vol.69, p.101878, Article 101878 |
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| creator | Huang, Yongming Raza, Syed Muhammad Faraz Hanif, Imran Alharthi, Majed Abbas, Qaiser Zain-ul-Abidin, Syed |
| description | This study determines the role of natural resources’ utilization, foreign direct investment (FDI), and fossil fuel consumption in economic growth by utilizing panel data of 25 developing Asian countries from the period 1996 to 2016. Pool Mean Group (PMG) regression is used for this purpose, and the results show that the rent received from forests has a sizeable share in the economic growth of developing Asian Countries. The study shows that an increase in FDI is stimulating economic growth in developing countries. However, although the utilization of natural resources has a positive impact on economic growth, the results show a statistically insignificant role of natural resources in improving economic growth. Finally, the results show that the rent obtained from forest resources, mineral resources, and oil extraction makes a significant contribution to economic growth. The findings highlight that FDI and the rent received from the pool of natural resources are significant contributors to economic growth, as they are both helping to develop industrialization in the nations concerned and improve the level of per capita income. However, the findings also suggest that there is a need to consider the limited availability of natural resources and to deal with this situation by (a) developing policies that can ensure the efficient use of such rent received from the natural resources by importing advanced technologies from developed nations and (b) using the rents from natural resources to promote the business environment and attract FDI in developing countries.
•The rent received from forests has a sizeable share in the economic growth of developing Asian economies.•The rent obtained from forest resources makes a significant contribution to economic growth.•The rent obtained from mineral resources and oil extraction is fostering economic growth.•Utilization of natural resources has a positive but insignificant impact on economic growth.•The study shows that increase in FDI is stimulating economic growth in developing Asian countries. |
| doi_str_mv | 10.1016/j.resourpol.2020.101878 |
| format | Article |
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•The rent received from forests has a sizeable share in the economic growth of developing Asian economies.•The rent obtained from forest resources makes a significant contribution to economic growth.•The rent obtained from mineral resources and oil extraction is fostering economic growth.•Utilization of natural resources has a positive but insignificant impact on economic growth.•The study shows that increase in FDI is stimulating economic growth in developing Asian countries.</description><identifier>ISSN: 0301-4207</identifier><identifier>EISSN: 1873-7641</identifier><identifier>DOI: 10.1016/j.resourpol.2020.101878</identifier><language>eng</language><publisher>Kidlington: Elsevier Ltd</publisher><subject>Developed countries ; Developing countries ; Economic development ; Economic growth ; Economics ; Extraction ; Foreign investment ; Forest resources ; Forests ; Fossil fuels ; Impact analysis ; Industrialization ; LDCs ; Mineral resources ; Minerals ; Natural resources ; Panel data ; Petroleum ; Rents</subject><ispartof>Resources policy, 2020-12, Vol.69, p.101878, Article 101878</ispartof><rights>2020 Elsevier Ltd</rights><rights>Copyright Elsevier Science Ltd. Dec 2020</rights><lds50>peer_reviewed</lds50><woscitedreferencessubscribed>false</woscitedreferencessubscribed><citedby>FETCH-LOGICAL-c376t-a407b6f22e6f0e69ba566746d0761bac0b125ca3c11ee83cfa38884dc2b619193</citedby><cites>FETCH-LOGICAL-c376t-a407b6f22e6f0e69ba566746d0761bac0b125ca3c11ee83cfa38884dc2b619193</cites><orcidid>0000-0003-3553-243X</orcidid></display><links><openurl>$$Topenurl_article</openurl><openurlfulltext>$$Topenurlfull_article</openurlfulltext><thumbnail>$$Tsyndetics_thumb_exl</thumbnail><linktohtml>$$Uhttps://www.sciencedirect.com/science/article/pii/S0301420720309090$$EHTML$$P50$$Gelsevier$$H</linktohtml><link.rule.ids>314,776,780,3537,27843,27901,27902,65306</link.rule.ids></links><search><creatorcontrib>Huang, Yongming</creatorcontrib><creatorcontrib>Raza, Syed Muhammad Faraz</creatorcontrib><creatorcontrib>Hanif, Imran</creatorcontrib><creatorcontrib>Alharthi, Majed</creatorcontrib><creatorcontrib>Abbas, Qaiser</creatorcontrib><creatorcontrib>Zain-ul-Abidin, Syed</creatorcontrib><title>The role of forest resources, mineral resources, and oil extraction in economic progress of developing Asian economies</title><title>Resources policy</title><description>This study determines the role of natural resources’ utilization, foreign direct investment (FDI), and fossil fuel consumption in economic growth by utilizing panel data of 25 developing Asian countries from the period 1996 to 2016. Pool Mean Group (PMG) regression is used for this purpose, and the results show that the rent received from forests has a sizeable share in the economic growth of developing Asian Countries. The study shows that an increase in FDI is stimulating economic growth in developing countries. However, although the utilization of natural resources has a positive impact on economic growth, the results show a statistically insignificant role of natural resources in improving economic growth. Finally, the results show that the rent obtained from forest resources, mineral resources, and oil extraction makes a significant contribution to economic growth. The findings highlight that FDI and the rent received from the pool of natural resources are significant contributors to economic growth, as they are both helping to develop industrialization in the nations concerned and improve the level of per capita income. However, the findings also suggest that there is a need to consider the limited availability of natural resources and to deal with this situation by (a) developing policies that can ensure the efficient use of such rent received from the natural resources by importing advanced technologies from developed nations and (b) using the rents from natural resources to promote the business environment and attract FDI in developing countries.
•The rent received from forests has a sizeable share in the economic growth of developing Asian economies.•The rent obtained from forest resources makes a significant contribution to economic growth.•The rent obtained from mineral resources and oil extraction is fostering economic growth.•Utilization of natural resources has a positive but insignificant impact on economic growth.•The study shows that increase in FDI is stimulating economic growth in developing Asian countries.</description><subject>Developed countries</subject><subject>Developing countries</subject><subject>Economic development</subject><subject>Economic growth</subject><subject>Economics</subject><subject>Extraction</subject><subject>Foreign investment</subject><subject>Forest resources</subject><subject>Forests</subject><subject>Fossil fuels</subject><subject>Impact analysis</subject><subject>Industrialization</subject><subject>LDCs</subject><subject>Mineral resources</subject><subject>Minerals</subject><subject>Natural resources</subject><subject>Panel data</subject><subject>Petroleum</subject><subject>Rents</subject><issn>0301-4207</issn><issn>1873-7641</issn><fulltext>true</fulltext><rsrctype>article</rsrctype><creationdate>2020</creationdate><recordtype>article</recordtype><sourceid>7TQ</sourceid><recordid>eNqFkFFLwzAUhYMoOKe_wYCvdiZpm2SPY-gUBr7M55CmtzOlS2rSDf33ZlaGbz5duJzz3XsOQreUzCih_KGdBYh-H3rfzRhhP1sp5BmapJFnghf0HE1ITmhWMCIu0VWMLSGkFJJP0GHzDjj4DrBvcOMTasAjz0C8xzvrIOju70q7GnvbYfgcgjaD9Q5bh8F453fW4D74bVLHI6-GA3S-t26LF9HqkwriNbpodBfh5ndO0dvT42b5nK1fVy_LxTozueBDpgsiKt4wBrwhwOeVLjkXBa-J4LTShlSUlUbnhlIAmZtG51LKojas4nRO5_kU3Y3c9NbHPoVTbcrh0knFCsklLwtKkkqMKhN8jAEa1Qe70-FLUaKOJatWnUpWx5LVWHJyLkYnpBAHC0FFY8EZqG0AM6ja238Z3079jAY</recordid><startdate>202012</startdate><enddate>202012</enddate><creator>Huang, Yongming</creator><creator>Raza, Syed Muhammad Faraz</creator><creator>Hanif, Imran</creator><creator>Alharthi, Majed</creator><creator>Abbas, Qaiser</creator><creator>Zain-ul-Abidin, Syed</creator><general>Elsevier Ltd</general><general>Elsevier Science Ltd</general><scope>AAYXX</scope><scope>CITATION</scope><scope>7TA</scope><scope>7TQ</scope><scope>8BJ</scope><scope>8FD</scope><scope>DHY</scope><scope>DON</scope><scope>FQK</scope><scope>JBE</scope><scope>JG9</scope><orcidid>https://orcid.org/0000-0003-3553-243X</orcidid></search><sort><creationdate>202012</creationdate><title>The role of forest resources, mineral resources, and oil extraction in economic progress of developing Asian economies</title><author>Huang, Yongming ; Raza, Syed Muhammad Faraz ; Hanif, Imran ; Alharthi, Majed ; Abbas, Qaiser ; Zain-ul-Abidin, Syed</author></sort><facets><frbrtype>5</frbrtype><frbrgroupid>cdi_FETCH-LOGICAL-c376t-a407b6f22e6f0e69ba566746d0761bac0b125ca3c11ee83cfa38884dc2b619193</frbrgroupid><rsrctype>articles</rsrctype><prefilter>articles</prefilter><language>eng</language><creationdate>2020</creationdate><topic>Developed countries</topic><topic>Developing countries</topic><topic>Economic development</topic><topic>Economic growth</topic><topic>Economics</topic><topic>Extraction</topic><topic>Foreign investment</topic><topic>Forest resources</topic><topic>Forests</topic><topic>Fossil fuels</topic><topic>Impact analysis</topic><topic>Industrialization</topic><topic>LDCs</topic><topic>Mineral resources</topic><topic>Minerals</topic><topic>Natural resources</topic><topic>Panel data</topic><topic>Petroleum</topic><topic>Rents</topic><toplevel>peer_reviewed</toplevel><toplevel>online_resources</toplevel><creatorcontrib>Huang, Yongming</creatorcontrib><creatorcontrib>Raza, Syed Muhammad Faraz</creatorcontrib><creatorcontrib>Hanif, Imran</creatorcontrib><creatorcontrib>Alharthi, Majed</creatorcontrib><creatorcontrib>Abbas, Qaiser</creatorcontrib><creatorcontrib>Zain-ul-Abidin, Syed</creatorcontrib><collection>CrossRef</collection><collection>Materials Business File</collection><collection>PAIS Index</collection><collection>International Bibliography of the Social Sciences (IBSS)</collection><collection>Technology Research Database</collection><collection>PAIS International</collection><collection>PAIS International (Ovid)</collection><collection>International Bibliography of the Social Sciences</collection><collection>International Bibliography of the Social Sciences</collection><collection>Materials Research Database</collection><jtitle>Resources policy</jtitle></facets><delivery><delcategory>Remote Search Resource</delcategory><fulltext>fulltext</fulltext></delivery><addata><au>Huang, Yongming</au><au>Raza, Syed Muhammad Faraz</au><au>Hanif, Imran</au><au>Alharthi, Majed</au><au>Abbas, Qaiser</au><au>Zain-ul-Abidin, Syed</au><format>journal</format><genre>article</genre><ristype>JOUR</ristype><atitle>The role of forest resources, mineral resources, and oil extraction in economic progress of developing Asian economies</atitle><jtitle>Resources policy</jtitle><date>2020-12</date><risdate>2020</risdate><volume>69</volume><spage>101878</spage><pages>101878-</pages><artnum>101878</artnum><issn>0301-4207</issn><eissn>1873-7641</eissn><abstract>This study determines the role of natural resources’ utilization, foreign direct investment (FDI), and fossil fuel consumption in economic growth by utilizing panel data of 25 developing Asian countries from the period 1996 to 2016. Pool Mean Group (PMG) regression is used for this purpose, and the results show that the rent received from forests has a sizeable share in the economic growth of developing Asian Countries. The study shows that an increase in FDI is stimulating economic growth in developing countries. However, although the utilization of natural resources has a positive impact on economic growth, the results show a statistically insignificant role of natural resources in improving economic growth. Finally, the results show that the rent obtained from forest resources, mineral resources, and oil extraction makes a significant contribution to economic growth. The findings highlight that FDI and the rent received from the pool of natural resources are significant contributors to economic growth, as they are both helping to develop industrialization in the nations concerned and improve the level of per capita income. However, the findings also suggest that there is a need to consider the limited availability of natural resources and to deal with this situation by (a) developing policies that can ensure the efficient use of such rent received from the natural resources by importing advanced technologies from developed nations and (b) using the rents from natural resources to promote the business environment and attract FDI in developing countries.
•The rent received from forests has a sizeable share in the economic growth of developing Asian economies.•The rent obtained from forest resources makes a significant contribution to economic growth.•The rent obtained from mineral resources and oil extraction is fostering economic growth.•Utilization of natural resources has a positive but insignificant impact on economic growth.•The study shows that increase in FDI is stimulating economic growth in developing Asian countries.</abstract><cop>Kidlington</cop><pub>Elsevier Ltd</pub><doi>10.1016/j.resourpol.2020.101878</doi><orcidid>https://orcid.org/0000-0003-3553-243X</orcidid></addata></record> |
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| subjects | Developed countries Developing countries Economic development Economic growth Economics Extraction Foreign investment Forest resources Forests Fossil fuels Impact analysis Industrialization LDCs Mineral resources Minerals Natural resources Panel data Petroleum Rents |
| title | The role of forest resources, mineral resources, and oil extraction in economic progress of developing Asian economies |
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