Natural resources, financial globalization, renewable energy, and environmental quality: Novel findings from top natural resource abundant countries

Abstract

Natural resources impact our ecosystem's constituents, affecting ecological quality. In this context, the goal is to explore the effect of natural resources (NRR), financial globalization, and renewable energy on environmental quality by paying particular attention to natural resource abundanteconomiess from 1990 to 2016. To do this, we used the method of moment quantile regression to evaluate the interrelationship between the focused variables. The study makes significant contributions to the empirical body of knowledge by examining the primary factors that influence the load capacity factor (LCF) in countries with the abundance of natural resources. The empirical outcomes reveal that: (i)renewable energy and financial globalization cause a surge in LCF; (ii) NRR and economic advancements degrade environmental quality in the leading natural resource abundantcountries; (iii) a bidirectional causal effect is observed among natural resources, global financial, and LCF. The outcomes of the present study offer new insights for governments of natural resource abundant economies on effective strategies and policies for achieving environmental quality.