Natural resources for policy makers: Revisiting COVID-19 perspective of aggregate South Asian economies

Xiaoming Yang, Jia Zhang and Zhaoyi Xu

Resources Policy, 2023, vol. 83, issue C

Abstract: The global pandemic of covid-19 affected human lives and the global environment. Further, literature on the nexus of natural resources and economic growth, initiating the pandemic in the 21st century has confronted policymakers with uncertainty. This requires revisiting the link between natural resources and the economic performance of the South Asian economies. For this purpose, the present study has tried to investigate the role of natural resources in the economic growth of the aggregate South Asian economies during the Covid-19 challenge. The analysis has been completed by a novel approach of MMQR taking data from 1980 to 2021. The oil rents have negatively affected the economic growth may be due to its lower demand during the pandemic caused by lockdown activity. The trade and electricity produced from renewable improve the economic performance of the designated sample economies. The results provide evidence of the irreversible investment theory. The analysis implies that efficient policies for natural resources, specifically oil prices, are required to encourage the South Asian economies' role. Further, the positivity of electricity production from renewable gives rise to the growth hypothesis, which depicts that using renewable energy enhances the economic growth of South Asian economies.

Keywords: Covid-19; Natural resources; MMQR; Economic growth; Irreversible investment theory (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:eee:jrpoli:v:83:y:2023:i:c:s0301420723004427

DOI: 10.1016/j.resourpol.2023.103731

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