Role of financial performance and natural resources development on economic recovery: Empirical evidence from an Asian perspective

Abstract

The COVID-19 pandemic has had a significant impact on the world economy, with many countries struggling to recover and seeing a decline in economic activity. This study examines the effects of economic risk, renewable energy, and technological advancement, as well as the relationship between natural resources and the performances of Asian economies from 1990 to 2020. The data were analyzed using the second-generation unit root test, and panel regression analysis demonstrates that the economies under study greatly profit from having access to natural resources. Economic growth is fueled by technological advancements and renewable energy sources, and as one moves up the quantile scale, more environmental resources and sustainable power are being used. Based on the dynamic ordinary least squares report, it was determined that the empirical results were trustworthy. The study emphasizes the significance of effective management of renewable energy sources and natural resources to guarantee ongoing economic growth.