India’s Total Natural Resource Rents (NRR) and GDP: An Augmented Autoregressive Distributed Lag (ARDL) Bound Test

Sanjay Taneja, Mukul Bhatnagar, Pawan Kumar and Ramona Rupeika-Apoga ()
Additional contact information
Sanjay Taneja: University School of Business, Chandigarh University, Mohali 140413, India
Mukul Bhatnagar: University School of Business, Chandigarh University, Mohali 140413, India
Pawan Kumar: University School of Business, Chandigarh University, Mohali 140413, India
Ramona Rupeika-Apoga: Faculty of Business, Management and Economics, University of Latvia, LV-1586 Riga, Latvia

JRFM, 2023, vol. 16, issue 2, 1-14

Abstract: Utilizing natural resources wisely, reducing pollution, and taking other environmental factors into account are now critical to the prospects for long-term economic growth and, by extension, sustainable development. We investigate the impact of total natural resource rents (NRR) on India’s GDP in this study. The data sample consists of NRR and GDP data from the World Bank’s official website collected between 1993 and 2020. In the study, the Granger causality test and an augmented autoregressive distributed lag (ARDL) bound test were used. The NNR have a significant impact on India’s GDP, according to the results of the ARDL model on the framed time series data set. Furthermore, the ARDL bound test reveals that the NRR have a significant short-term and long-term impact on the GDP of the Indian economy. This research contributes to understanding whether an exclusive policy is required for effective management of the complex interactions between various forces in the economic, political, and social environments. This is significant because there is no standard policy in India to improve the efficiency of utility extraction from natural resources.

Keywords: total natural resource rents; GDP; sustainable development; ARDL bound test; India (search for similar items in EconPapers)
JEL-codes: C E F2 F3 G (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (7)

Downloads: (external link)
https://www.mdpi.com/1911-8074/16/2/91/pdf (application/pdf)
https://www.mdpi.com/1911-8074/16/2/91/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:gam:jjrfmx:v:16:y:2023:i:2:p:91-:d:1056954

Access Statistics for this article

JRFM is currently edited by Ms. Chelthy Cheng

More articles in JRFM from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().