Studying the role of fiscal policy to utilize natural resources development: Leads to sustainable development goals

Abstract

Every country's primary economic objective is to accomplish sustainable economic growth. In this area, there has been much discussion of the significance of natural resources in the research; moreover, there has yet to be much research on how these resources affect the monetary inclusion of emerging nations. This research utilized China's management of funds, technological development, and unpredictability of economic strategy to examine the viability of the resources curse theory concerning financial growth. Quantile autoregressive distribution lag (QARDL), a cutting-edge methodology, was used to evaluate the asymmetry relationship between variables from 1970 to 2015. The resources constraint theory, which contends that the rents from environmental assets constrain economic advancement, is backed up by research data for China. Volatility in economic strategy also harms financial growth. Contrarily, financial diversification and technical advancement sped up economic development and offset the drawbacks of environmental assets. According to the results, appropriate natural resource utilization, funding redistribution at local administration levels, and a shift towards green initiatives should all be put in place as semiconducting short- and long-term marketing strategies and regulatory requirements to turn the blight into a full endorsement.