The nexus between natural resources and exports of goods and services in the OECD countries

Wanxing Jiang and Han Gao

Resources Policy, 2023, vol. 85, issue PA

Abstract: Natural resources and exports of goods are essential components of any nation's economy. Urbanization can provide many benefits, but it also has some risks that must be considered. Finally, renewable energy is becoming increasingly important today as nations strive to reduce their dependence on non-renewable energy sources. This study investigates the impact of export restrictions for commercial services on the natural resources of OECD countries. It moderates the roles of urbanization, economic growth, and renewable energy consumption from 1990 to 2020. This study involves the development of an empirical analysis, the application of advanced econometric methodologies, and the development of a comprehensive policy report. The result explains that natural resources are positively associated with exports of goods and services and the renewable energy consumption is negatively associated with urbanization and economic growth. Natural resources are further depleted by urbanization and economic development, as well as increased exports of goods and services. OECD countries must develop a clear understanding of the impact of trade on natural resources. This should include the collection and analysis of data on resource use, production processes, and the development of policies that are tailored to the specific challenges faced by each country. Moreover, OECD governments should ensure that the natural resources in their countries remain within sustainable limits. This can be achieved by introducing policies that promote efficient resource use, such as resource pricing and regulations that support the reuse and recycling of resources.

Keywords: Natural resources; Exports of goods and services; Urbanization; Renewable energy; OECD countries (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:eee:jrpoli:v:85:y:2023:i:pa:s030142072300661x

DOI: 10.1016/j.resourpol.2023.103950

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