Interlinking dynamics of natural resources, financial development, industrialization, and energy intensity: Implications for natural resources policy in emerging seven countries
Keren Chen,
Rabia Qammar,
Abdul Quddus,
Ning Lyu and
Ibrahim Alnafrah
Resources Policy, 2024, vol. 90, issue C
Abstract:
The study examines the intricate relationship between energy poverty, natural resources rents, energy intensity, financial development, and industrialization, with CO2 emissions in the E−7 countries from 1996 to 2021. This study utilizes a nonparametric econometric approach known as the method of moments quantile regression. The findings highlight significant associations among these variables. Higher energy poverty levels are linked to increased CO2 emissions, indicating a correlation between energy poverty and carbon emissions. Likewise, higher energy intensity, reflecting lower energy efficiency, contributes to greater carbon emissions. Furthermore, reliance on natural resources for economic development is positively associated with CO2 emissions, suggesting potential environmental deterioration. The financial development shows a positive association with CO2 emissions, suggesting that increased financial resources may lead to higher carbon emissions. However, this relationship diminishes at higher levels of financial development, indicating a potential decoupling of financial progress from carbon emissions. Industrialization and natural resources display a positive relationship with CO2 emissions, highlighting the contribution of industrialization to carbon emissions. Policymakers are urged to prioritize energy efficiency promotion, facilitate the transition to renewable energy sources, and encourage sustainable industrial practices. Integrating innovation activities that prioritize green technologies and sustainable development can effectively reduce CO2 emissions while supporting economic growth. These findings hold crucial implications for policymakers in the E−7 countries, emphasizing the need for sustainable development and environmental stewardship. Striking a balance between economic growth and environmental preservation is essential for a sustainable future in the E−7 countries.
Keywords: CO2 emissions; Energy poverty; Energy intensity; Natural resources rents; Financial development; Industrialization (search for similar items in EconPapers)
Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)
Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0301420724001764
Full text for ScienceDirect subscribers only
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:eee:jrpoli:v:90:y:2024:i:c:s0301420724001764
DOI: 10.1016/j.resourpol.2024.104809
Access Statistics for this article
Resources Policy is currently edited by R. G. Eggert
More articles in Resources Policy from Elsevier
Bibliographic data for series maintained by Catherine Liu ().