Commodity prices volatility and economic growth: Empirical evidence from natural resources industries of China

Li Li

Resources Policy, 2023, vol. 80, issue C

Abstract: Volatility in the prices of natural resource commodities even before pandemic hit, viewed as a major concerns by scholars. Especially, after the crisis like global financial crisis and Asian financial crisis, not only natural resources commodity prices are affected but due to it economic growth of countries has also been affected. Therefore, the current study scrutinizes the effectiveness of natural resources commodity price volatility dimensions such as livestock, agriculture, coal, crude oil, and precious metal on the economic growth of the Chinese economy. The authors used secondary data and E-views for the data analysis. The data was gathered from two sources; world bank indicators and the GSC index. Since the study focuses on pre-pandemic era, thereby, the selected period was from 1981 to 2019. The researchers have examined the stationarity using the augmented dickey-Fuller method and tested the association between the constructs through Error Correction Model. The results indicated that all the chosen constructs are correlated with the economic growth of the Chinese economy in a positive manner. This article provides guidelines to the policy development authorities while formulating regulations regarding the said contemporary issue.

Keywords: Natural resources commodity prices; Livestock; Agriculture; Coal; Crude oil; Precious metal; Economic growth (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:eee:jrpoli:v:80:y:2023:i:c:s0301420722005955

DOI: 10.1016/j.resourpol.2022.103152

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