Abstract
The shift in China’s economy towards green development may benefit significantly from an analysis of the impact of natural resources on economic growth and the transmission mechanism behind this relationship. This research employs the GMM model to empirically examine the effects of natural resource availability and dependency on the resource sector on green economic growth and its transmission mechanism. It draws on statistical data from 30 Chinese provinces for the period 1985–2020. The efficiency with which China uses its natural resources has suffered because of its shifting industrial structure. Industrialisation boosts natural resource productivity. Investment in higher efficiency and economic performance areas might be encouraged, with the proceeds redistributed to the financial sector, allowing for the optimisation and retooling of more traditional enterprises. However, compared to government investment behaviour as a control variable, FDI resulted in much greater efficiency in the utilisation of natural resources. The coefficient value was relatively small, and the significance test for urbanisation effects failed. Recommendations and countermeasures are provided for achieving sustainable development based on the study’s empirical results.
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