Natural resources lineage, high technology exports and economic performance: RCEP economies perspective of human capital and energy resources efficiency

Abstract

Natural resources play a crucial role in economic growth and development. The presence of abundant natural resources can provide countries with opportunities for economic expansion, job creation, and increased export revenues. However, the utilization of natural resources also carries significant risks and challenges that can affect macroeconomic and environmental outcomes. This paper examines the impact of natural resource rents, high technology exports, human capital, and energy efficiency on economic growth of five RCEP nations over the period of 1989–2021. We use quantile regression method, which is useful for analyzing the relationship between two variables, especially when the effect of one variable on the other is anticipated to vary across various parts of the response variable's distribution. We find that natural resource rents are harmful for economic growth. However, high technology exports, human capital and energy efficiency positively affect economic growth. The findings also suggest that policies intended to promote growth should be tailored to the unique requirements and characteristics of countries at various stages of economic development.