Izvorni znanstveni članak
https://doi.org/10.1080/1331677X.2023.2170900
Sustainable economic growth via human capital and cleaner energy: evidence from non-parametric panel methods
Boya Sun
Wenzhong Zhu
Nafeesa Mughal
Tolassa Temesgen Hordofa
Rinat Zhanbayev
Iskandar Muda
Sažetak
The association between resource rents and economic growth is one
of the key issues that have attracted the attention of both policymakers
and scholars. Several attempts have been made regarding
the association, yet the literature holds the gap. The present research
intends to explore the connection between natural resource volatility
and economic performance in seven (G-7) countries. For the time
frame from1990 to 2020, this study also examines the role of technological
innovation (TI), human capital (HCI), and research and development
budget for renewable energy (RER&D). Empirical results
asserted that the variables under study are cointegrated. Employing
a novel non-parametric panel quantile method of moments regression
and quantile-on-quantile, the outcomes propose that natural
resources volatility significantly affects EP throughout the quantiles.
This negative impact is valid for the aggregate panel of countries
and cross-sections. Natural resource volatility supports the resource
curse hypothesis for G7 economies. On the other hand, HCI and TI
are significant economic performance factors. From lower to higher
quantiles, the magnitude and significance levels increase. The variable
for cleaner energy investment is also positively related to economic
performance yet insignificant in the higher quantile. The
study recommends channeling natural resource rents to effectively
and fully transfer the full potential of natural resources to other real
sectors of the economy to fully utilize the benefit from it.
Ključne riječi
Human capital; economic performance; technological innovation; method of moments quantile regression
Hrčak ID:
306825
URI
Datum izdavanja:
30.4.2023.
Posjeta: 250 *