Total Natural Resources Research Articles

Research on Evaluation Method of Natural Gas Hydrate Resources Based on Probability Distribution Model

Natural gas hydrate, as a highly efficient and clean energy source, has garnered significant attention from both developed and energy-deficient nations. However, to achieve industrial application, several technical challenges must be addressed, including resource exploration, spatial positioning, resource assessment, economic production evaluation, and climate change impact assessment. Currently, our exploration and evaluation system for gas hydrate resources remains immature. This study aims to determine the probability distribution of effective thickness, porosity, and saturation of natural gas hydrate resource parameters in the study area and their variations. Utilizing probability statistics theory, we calculated specific values for all gas hydrate resource parameters from open-source data of 14 exploration well locations, determined their probability distributions, and conducted distribution detection to identify specific distributions. Data analysis was performed using linear graphs and bar charts to summarize patterns. Subsequently, by applying the mathematical formula Q = A×Z×∅×S×E, we categorized natural gas hydrate resource parameters, calculated gas hydrate resources at each effective depth, determined the probability distribution of each obtained data point, and ultimately solved for the total natural gas hydrate resources, yielding a final solution of 31875763695.08.

Energy Security and Women’s Empowerment: A Generalized Method of Moments Approach from a Global Perspective

The importance of energy security is emphasized in Goal 7 of the 17 Sustainable Development Goals (SDGs) of the 2030 Agenda to guarantee that everyone has affordable, dependable, and contemporary energy access. In addition to transforming human life, whole economies, and even the planet, sustainable energy offers a chance for a better future. The absence of energy security impacts serious health problems, education, and household difficulties. Research on energy security has emphasized various angles worldwide. However, investigations of the impact of energy security on women’s empowerment are still scant. This study thus investigates the relationship between energy security and women’s empowerment (WE) in 167 countries from 2002 to 2021, as well as the influence of urbanization development levels on this nexus. Moreover, this study explores the variation in women’s empowerment between geographical regions by referencing the MENA, OECD, and SAARC countries. A two-step system GMM was used to achieve the objectives of this research. The findings show first that renewable energy availability has a significant effect on WE worldwide. Secondly, in terms of energy security, the variables total availability of natural resource rents and renewable energy both have a positive impact on women’s empowerment in the MENA, while in the OECD and SAARC countries, they have an indirect link with WE. Third, the integrating effect of total natural resource rents with urbanization significantly affects WE in all five models. Fourth, we used access to electricity to represent resource affordability. Unexpectedly, the results show its negative and significant association with WE. Fifth, in terms of energy security, both energy availability and affordability favor WE in OECD countries. Finally, the coefficient of integration of access to electricity and urbanization shows a positive and significant association with WE in the OECD, MENA, and SAARC regions. However, it is noteworthy to mention that access to electricity alone does not influence WE worldwide. Additionally, a series of tests confirm the robustness of the results. This research provides insight into the development and implications of energy security-related women’s empowerment policies.

Do the Energy-Related Uncertainties Stimulate Renewable Energy Demand in Developed Economies? Fresh Evidence from the Role of Environmental Policy Stringency and Global Economic Policy Uncertainty

Despite earlier research on green energy, there is still a significant gap in understanding how energy-related uncertainties affect renewable energy consumption (REN), especially in developed nations. Thus, this study explicitly looks into how the energy-related uncertainty index (EUI) can promote (or diminish) REN in sixteen wealthy nations between 2000 and 2020. Furthermore, we attempt to specify the factors of REN and explore whether environmental policy stringency (EPS) and global economic policy uncertainty (GEPU) could help moderate (or intensify) the EUI-REN nexus. To achieve this, we employ different panel data methods. The results underscore that the EUI significantly impacts REN, denoting that higher uncertainties related to energy markets lead to promoting REN. Additionally, the (EUI × EPS) underlines that EPS has a favorable role in increasing the positive effect of the EUI on REN in sample developed countries while (EUI × GEPU) has a detrimental effect. Remarkably, the findings underline that the effect of the EUI on REN is more positive in high EPS countries and that the positive effect of the EUI is more moderate when GEPU is high. The findings also underscore that the development of the financial market, FDI, personal remittances, and EPS positively stimulate REN whereas CO2, total natural resources rents, economic activity, and GEPU have a detrimental impact. The results are robust, and authorities and policymakers are advised to implement a wide range of policy proposals to accomplish sustainable development goals (SDGs) 7 and 13.

Multifaceted natural resources and green energy transformation for sustainable industrial development

Climate change is the most phenomenal challenge to humanity, and its roots are intervened with unsustainable industrialization, exercising overexploitation of natural resources. Therefore, the departure from non-renewable to renewables has become inevitable, though thought-provoking. In this respect, we explore how green energy transformation moderates the impacts of multifaceted natural resources on sustainable industrial development in the presence of other covariates involving technological progress, financial development, and economic progress. We compiled data from Group of Seven (G-7) members over the 1995−2018 period and applied panel quantile regression (PQREG) to capture the effects across varying levels of quantiles of sustainable industrial development. Results revealed a positive role of natural gas rents, while coal, forest, and total natural resource rents contributed adverse implications for sustainable industrial development. However, the green energy transformation proved to be the game changer because it not only directly induced sustainable industrial development improvement but also turned the unfavorable effects of coal, forest, and total natural resources into favorable ones by interacting with those multifaceted natural resources. Technological, financial, and economic progress supported sustainable industrial development in G-7 nations, particularly in members with existing middle and upper scales of sustainable industrial development. These findings are robust enough when subjected to different estimation tools. In light of these outcomes, the interaction between green energy transformation and natural resource policy is inevitably critical to attaining natural resource efficiency for sustainable industrial development. Therefore, it is imperative to establish a close policy coordination between advancing green energy technology and allocating natural resource revenue to achieve sustainable development goals (SDGs), with a particular emphasis on SDG-7 and SDG-13.

Energy efficiency, economic growth, and natural resource rent: A trilemma analysis of environmental sustainability in Africa

Climate change, exacerbated by a global economic model reliant on carbon-intensive industrialization and unchecked growth, disproportionately affects vulnerable regions such as Africa. Therefore, transitioning to an ecologically sustainable development paradigm is imperative for developing countries facing climate disruptions. The current study analyzes the trilemma effect of energy efficiency, economic growth, and total natural resource rent on environmental quality in Africa from 2010 to 2018 using SMB-DEA and PMG ARDL methods. The results are as follows: first, SMB-DEA analysis found traditional and renewable energy efficiency at 89 % and 58 %, respectively, indicating infrastructure and policy deficiencies in optimizing renewables. Second, economic expansion poses significant environmental costs; energy efficiency has an insignificant ameliorating effect on efficiency; and counterintuitively, natural resource rents become less environmentally harmful over time, though remain detrimental in the short term. Third, country-specific analyses presented heterogeneous outcomes, reflecting the complexity of global climate solutions. Fourth, transforming inefficient energy-growth-emission systems onto sustainable trajectories requires 262 % CO2 emission cuts and 46.7 % increased renewables capacity to reach efficiency frontiers. Fifth, Bidirectional causal relationships exist between income, energy efficiency, emissions, and resource rents, mutually influencing one another. These findings support suggestions for upscaling green energy capacity and improving green energy efficiency.

The Effect of Green Bonds on Natural Capital Protection: Worldwide Evidence

The continued destruction of nature, including the degradation of natural capital and biodiversity, threatens ecosystem services and human well-being. Natural capital is crucial for providing the conditions necessary for human survival and ecosystem services. Without protecting natural capital, this degradation will have lasting effects on current and future generations. Existing studies increasingly show that Green Bonds can finance environmental projects effectively, but few have examined their impact on natural capital protection. This study investigates the effect of Green Bonds on natural capital protection globally, using IMF Climate Data and World Bank data from 2019 to 2022. By applying the Green Investment theory and quantile-panel regression analysis, the results show that Green Bonds significantly enhance natural capital protection at the 25th and 50th percentiles. This indicates that countries can improve their natural capital protection through the issuance of Green Bonds. Moreover, the study finds that renewable energy positively correlates with natural capital protection, while population growth and total natural resource rents have negative impacts. Hence, this study recommends that governments prioritize the issuance of Green Bonds to fund environmental initiatives.

Role of natural resource and mineral rent on economic development: Perspective on green reforms and financial management

This study aims to establish an empirical framework to determine the role of total natural resource rent and forest rent in financial development and to shed light on the perspective of green growth and technological advancement by using time-series data between 1990 and 2022 in the context of Chile. According to econometric testing, Technological Innovation (0.31) and Total Natural Resource Rent (0.02) positively affect financial development. However, the coefficient of forest rent (−0.06) has a negative and significant impact on Chile's financial development. Energy from renewable sources (−0.69)in Chile negatively impacts green growth, whereas trade openness increases green growth. In Chile, wavelet coherence analysis revealed a high correlation between financial development, green reforms, technological innovation, and carbon emission. The study suggested that, first, policymakers should carefully evaluate the forest management techniqueas studies have shown the adverse effect of forest rent on financial development. Second, encouraging renewable energy resources and guaranteeing ongoing economic developmentaccording to the detrimental impact of renewable energy on green growth should be balanced. Last, capacity building at different levels should be invested in to implement policies regarding natural resources.

Natural resource rents and financial inclusion nexus: Evidence from Africa

A significant gap in total natural resources wealth and financial inclusion studies on the African continent stems from their impact and variation. To address these deficiencies, this study investigates the effect of total natural resource rents on financial inclusion, employing data from 27 African economies from 2004 to 2019. This study uses the most recent panel estimators, causality test and variance decomposition analysis for accuracy and reliability. Findings reveal that total natural resources wealth and economic progress significantly reduces financial inclusion, while fossil and renewable energy promote financial inclusion. Moreover, financial globalization had an insignificant outcome on financial inclusion. The causality test revealed bi-directional causation between financial inclusion in renewable energy and financial inclusion in economic progress. Again uni-directional causation from financial inclusion to fossil energy and financial inclusion to natural resources wealth. At the same time, a neutral causal effect was found from financial inclusion to financial globalization. Regarding variations, financial inclusion had the highest effect on natural resource rents. Our findings grasp new insight into financial inclusion in Africa, and policymakers are advised to support natural resources rent by directing its impact into the economy's real sector.

How do natural resource rents and productive capacity affect carbon emissions? Evidence from developed and developing countries

This study re-examines the determinants of CO2 emissions, considering 36 developing and developed economies from 2000 to 2020. The study uses a new indicator of economic cycles, i.e., the productive capacity index. The panel models also control for the impacts of geopolitical risk, globalisation, renewable energy share, and total natural resource rents. After diagnosing the data for necessary panel diagnostics, the Westerlund cointegration test indicates a significant long-run relationship. In this context, two-step System Generalised Method of Moments (SGMM) estimations demonstrate the positive effects of geopolitical risk, productive capacity index, and natural resource rents on per capita CO2 emissions. In contrast, globalisation and the share of renewable energy reduce CO2 emissions. The Panel-Correlated Standard Errors (PCSE) and the Feasible Generalised Least Squares (FGLS) confirm the long-run reliability of these baseline findings. Policy implications concerning the issue of rising CO2 emissions are also discussed.

Are Natural Resources Harmful to the Ecology? Fresh Insights from Middle East and North African Resource-Abundant Countries

The Middle East and North African (MENA) region is among the regions most impacted by global warming and climate change. At the same time, the region accounts for 58% of global oil reserves and 43% of global natural gas reserves. It is, therefore, important to assess the role of natural resource abundance in the environmental degradation faced by MENA resource-abundant countries. This study contributes to this research area by exploring the short- and long-term repercussions of natural resources on the ecological footprint (EFP) of eight resource-rich MENA countries between 2000 and 2021. The research performs both aggregate and disaggregate assessments by considering the total resource rents, as well as specific rents of oil, natural gas, and minerals. The pooled mean group estimator indicates that a rise of 1% in total natural resources induces an increase of 0.053% in the EFP, implying that natural resources are harmful to the environment. The disaggregate analysis shows that oil rents have the most adverse environmental effects in the long run, followed by natural gas. Finally, mineral rents are determined to be neutral vis-à-vis the environment. In light of these findings, policy recommendations for reducing the adverse environmental impacts of natural resources are suggested.

Nexus between total natural resource rents and public debt within symmetric and asymmetric framework: Fresh insight from resource-rich economy

Many economies abundant in natural resources often leverage the rents from these resources as collateral for borrowing during periods of economic boom, intending to repay debts during periods of windfall. However, this practice can cultivate irresponsible borrowing tendencies, potentially leading to debt trap scenarios when global resource prices decline. Thus, our study delves into the interaction between public debt (PD) and total natural resource rents (TNR), examining both aggregate and disaggregate forms, with a specific focus on India spanning from 1980-81 to 2021–22.Our aggregate analysis reveals that PD exhibits heightened responsiveness to negative shocks in TNR compared to positive shocks, indicating an asymmetric impact of TNR on PD within the Indian context. Additionally, disaggregate analysis uncovers that both positive and negative shocks in coal rents (CR), natural gas rents (NGR), and forest rents (FR) significantly and adversely affect PD. Furthermore, a positive shock in mineral rents (MR) demonstrates a negative and significant impact on PD, while a negative shock in MR yields a positive but insignificant impact on PD. Overall, barring oil rents (OR), other forms of resource rents such as CR, NGR, FR, and MR showcase asymmetric and negative effects on PD. These findings underscore the importance of prudent institutional behavior and sound economic policies in overseeing and managing debt sustainability in resource-rich economies.

The role of green finance, environmental benefits, fintech development, and natural resource management in advancing sustainability

Green finance, generally considered as financial support for green growth, significantly reduces greenhouse gas and air pollutant emissions. Green finance in agriculture, green buildings and other green projects should increase the economic development of a country. Rapid advances in digital technology are revolutionizing the financial landscape. The rise of fintech has the potential to make financial systems more efficient and competitive and broaden financial inclusion. With greater technological complexity, however, fintech also brings potential systemic risks. Thus, using a panel dataset from the G7 and E7 countries, this investigation explores the interplay between green finance, environmental benefits, total natural resource management, fintech and economic sustainability. The panel dataset is subject to rigorous estimation techniques, including quantile regression and the generalized method of moments (GMM) for long-run estimation. The cointegrations among the variables are validated using the Johansen Fisher panel test. In the long-run estimation, the quantile regression shows significant influences of environmental benefits and total natural resource management. The GMM strengthens the analysis due to its effectiveness and reliability in the presence of heteroskedasticity. The outcomes of the GMM technique support the negative and significant impact of fintech, green finance and total natural resource management on GDP, while environmental benefits are significantly positively linked with GDP. The study enhances our understanding of the nexus between environmental factors and economic sustainability. Therefore, it has value in terms of its practical implications, offering policymakers insights for enhancing economic sustainability. Despite the significant contribution of the study, the limitations are acknowledged, which provide future researchers opportunities to expand on the topic.

Role of Remittance on Sustainable Economic Development in Developing and Emerging Economies: New Insights from Panel Cross-Sectional Augmented Autoregressive Distributed Lag Approach

In this study, we aim to investigate the effects of remittance on sustainable economic development in 52 developing and emerging economies from 1996 to 2021. The study uses other variables such as real GDP per capita, total natural resource rents, globalization, and foreign direct investment. To achieve the mentioned objective, we apply a series of second-generation panel estimation approaches. These include CIPS unit root, Westerlund cointegration, cross-sectional augmented autoregressive distributed lag (CS-ARDL), and robustness using augmented mean group (AMG) and common correlated mean group (CCEMG). These methods are useful provided they are robust towards cross-country dependencies, slope heterogeneity, endogeneity, and serial correlation, which are disregarded in the conventional panel estimations. The empirical findings indicate that remittance accelerates sustainable economic development. Additionally, real GDP per capita and globalization also positively contribute towards sustainable economic development. However, total resource rents deteriorate sustainable economic development. This study offers key policy implications based on the empirical findings for the developing and emerging economies.

Natural resource‐driven prosperity: Unveiling the catalysts of sustainable economic development in the United States

AbstractAchieving economic progress hinges upon the active and strategic utilization of a nation's inherent resources in economic and financial endeavors. This comprehensive study investigates the intricate dynamics influencing the economic development of the United States, employing a time series dataset spanning from 1991 to 2022. Key factors including total natural resource rents, domestic capital formation, the ‘financial risk index (FRI),’ and the count of patents filed by both domestic and foreign investors. Rigorous statistical analyses, including the ‘Modified Dickey‐Fuller’ test and ‘Bayer‐Hanck cointegration’ strategy, were employed to extract meaningful insights from the data. Addressing concerns related to endogeneity and serial correlation, advanced techniques such as ‘Dynamic Ordinary Least Squares’ and ‘Fully Modified Ordinary Least Squares’ were applied. The findings illuminate the pivotal roles played by natural resource rents and domestic capital formation in propelling sustainable economic development in the United States. Notably, this study sheds light on the positive contributions of both domestic and foreign patent filings to the nation's economic trajectory. Furthermore, enhancements in the FRI are identified as catalysts for fostering sustainable economic growth. In essence, our research contributes to the existing body of knowledge by offering nuanced insights into the multifaceted influences shaping the economic landscape of the United States. The results not only underscore the significance of effective resource management and capital formation but also emphasize the positive impact of innovation, represented by patent filings, and improvements in the FRI on the nation's journey towards sustainable economic growth.

Tourism development and ecological footprint indicators in island destinations: evidence from the members of the alliance of small island states

ABSTRACT Considering the crucial debates on sustainable development it is significant to understand the link between the development of tourism in small island countries and the ecological footprint. However, to date, little knowledge is available about the contribution of tourism to the EF of small island states. Therefore, the study aims to investigate the effects of international tourism, tourism revenues, total natural resource rents, urbanisation, energy intensity, and per capita gross domestic product (GDP) on ecological footprint among the Members of the Alliance of Small Island States (AOSIS). The results of our study provide new empirical results on the impact of tourism, economic growth, energy intensity, natural resource rents, and urbanisation on the ecological footprint of the 7 AOSIS member countries. Cross-sectional dependency and cointegration test results are positive for the variables of interest. Our estimates based on CCEMG and AMG regressions showed which factors contribute to environmental degradation at the AOSIS and country levels.

Exploring the dynamics: Biodiversity impacts of natural resource extraction with moderating influence of FinTech for sustainable practices in resource-rich nations

The relationship between biodiversity and natural resource extraction is a complex interplay where resource extraction can positively or negatively impact the diversity of life in ecosystems, depending on the specific context and management practices. Resource rich countries are facing this challenge to balance the growing economy natural resource needs against the richness of natural habitat. So, the study objective is to validate the non-linear impact of total natural resource extraction on biodiversity. For this purpose, 19 resource-rich countries have been considered from 2000 to 2021. A Common Correlated Mean Group (CCMG) specification is adopted in quantile regression to address cross-sectional dependence and non-normality of data. This model is specifically utilized to control for the spillover effects of natural resource markets across resource rich countries. According to the estimated results, an inverted U-shaped relationship is validated between natural resource extraction and biodiversity. Interestingly, the incorporation of financial technology encourages biodiversity. Further, the moderating effect of fintech evolves sustainable practices in natural resource extraction and promotes biodiversity. Energy intensity and population density as controlling factors of the model are damaging and improving biodiversity, respectively. Considering the inverted U-shaped relationship, policymakers are urged to design adaptive regulations that incentivize sustainable resource extraction practices. Using financial technology can play a vital role in promoting innovation and transparency, making it a critical strategy to consider.

Green policies and financial development in G7 economies: An in‐depth analysis of environmental regulations and green economic growth

AbstractThis comprehensive study explores the nuanced relationship between financial development and its determinants within the G7 nations, spanning the years 1990 to 2020. Motivated by the need to understand long‐term financial trends, we meticulously analyze key variables including total natural resource rent, Environmental Policy Stringency Index, total energy consumption, green gross domestic product (GDP), and foreign direct investment inflow. Employing rigorous diagnostic tests to ensure the robustness of our findings, advanced methodologies such as “Method of Moment Quantile Regression,” along with simulations of “Bootstrap Quantile Regression," “Panel Corrected Standard Errors,” and “Feasible Generalized Least Squares” regressions uncover the statistical significance and practical implications of our results. Our pivotal findings carry substantial implications for both individual G7 member states and the collective group. Highlighting a positive correlation between stringent environmental policies, measured by the Environmental Policy Stringency Index, and financial development, our study emphasizes the imperative for these nations to align economic and environmental policies. Striking a harmonious balance between resource management and sustainable environmental regulations not only fosters financial growth but also addresses global environmental concerns. Furthermore, the adverse impact of total energy consumption on financial development underscores the urgent need for G7 nations to prioritize energy efficiency and transition to sustainable sources, aligning with the global trend towards eco‐friendly practices. In response to these critical findings, we propose actionable policy measures. To align with the growing climate crisis and standardize green finance practices, we advocate for the establishment of a jointly funded Climate Resilience and Adaptation Fund and a unified Green Bond Framework within the G7. These measures not only enhance climate resilience and streamline sustainable investments but also demonstrate the G7's collective commitment to a greener and more prosperous future.

The Relationship between Natural Resource Abundance and Human Development in Belt and Road Initiative Countries: The Role of Financial Development

The goal of this study is to explore the relationship between natural resource abundance and human development. In particular, account for the role of financial development. This study uses data from 51 BRI countries over the period 2000-2018. Concerning the HDI, the results suggest U-shaped relationship between total natural resource rents and HDI. Similarly, gas rents, mineral rents and oil rents are non-linearly related to HDI in BRI countries. For example, in the case of total rents, once its share in GDP exceeds 42.8%, further dependence on natural resources leads to increase in HDI. In our sample, only Iraq, Kuwait, Saudi Arabia and Oman were above the turning points at some observation years. The interaction term is positive and significant. This implies that increase in natural resource rents in countries with higher levels of financial development does not lead to a reduction of human development. In a similar vein, domestic credit to private sector alleviates negative effect of oil and mineral rents.

Beyond the resource curse: The multifaceted impact of mineral resources, financial systems, and workforce competence

This research provides a fresh perspective by examining the impact of natural resources and the financial development index on the economic growth of the USA from 1983 to 2021. It utilizes foreign direct investment (FDI) and the human capital index as control variables. Several methodological approaches were employed, including DF-GLS and ADF with breaks for unit root testing, Bayer-Hanck for long-run co-integration, and FMOLS, DOLS, and CCR to ascertain the long-run elasticities among the variables. Robustness checks were performed using various techniques, including least squares regression—with and without breaks—robust least squares and quantile regression as non-parametric methods. To determine the causality, Granger causality analysis was employed. Results identified stable differences in the variables, confirming long-run equilibrium. Principal findings suggest that natural resources positively and significantly impact long-term economic growth, underscoring the ‘resource blessing’ effect in the USA. Moreover, the financial development index was found to stimulate economic growth. Findings from control variables notably affirmed the economic growth in the USA. These outcomes remained consistent and valid across both parametric and non-parametric robustness checks. Causality analysis revealed that FDI, the financial development index, and total natural resources have an uni-directional effect on economic growth, while human capital has a bi-directional causality with economic growth. This study suggests policies to utilize natural resources in tangible sectors further, emphasizing the role of financial development, human capital enhancement, and FDI stimulation.

Linking per capita income, renewable energy, natural resources, trade, and Urbanisation to material footprint: insights from Saudi Arabia

In view of growing greenhouse gases and climate change, this paper investigates the effect of per capita income, renewable energy, natural resources, trade, and urbanisation on the material footprint of Saudi Arabia. This study uses data from 1990 to 2019. Autoregressive Distributed Lag, Fully Modified Ordinary Least Squares, Dynamic Ordinary Least Squares, and Canonical Cointegrating Regression are used as estimation techniques. The result hints that per capita income, renewable energy, natural resources, trade, and urbanisation are determinants of material footprint in Saudi Arabia. Furthermore, the short- and long-run results show that per capita income, trade, and urbanisation increase material footprint, contributing significantly to Saudi Arabia's ecological damage. However, renewable energy and total natural resources rent reduce the material footprint in both periods. Other cointegration techniques also support the long-run estimates. The implications of the result for a sustainable environment were discussed.