How disaggregated natural resources rents affect financial development: From the perspective of sustainable development

被引：0
作者：
Yang X. [1 ]
Zhang P. [1 ,2 ]
Zhao Z. [3 ]
Koondhar M.A. [4 ]
机构：
[1] School of Public Policy and Administration, Chongqing University, Chongqing
[2] Research Centre for Public Economy and Public Policy, Chongqing University, Chongqing
[3] School of Economics and Management, Beijing University of Chemical Technology, Beijing
[4] College of Economics and Management, Northwest A&F University, Yangling
来源：
Resources Policy | 2024年 / 92卷
关键词：
Financial development; Fourier ARDL; Natural resources rent; Sustainable development;
D O I：
10.1016/j.resourpol.2024.104982
中图分类号：
学科分类号：
摘要：
Enhancing financial development has emerged as a paramount goal for nations worldwide, reflecting its pivotal role in fostering economic growth, stability, and prosperity. A developed financial system is inevitable for achieving sustainable development in a country. Therefore, it is essential to take measures that promote financial development. Also, promoting financial development entails knowledge of the determinants of financial development. Therefore, the present study intends to investigate whether during the period from 1989 to 2021, whether coal, oil, and natural gas rents have any impact on financial development in China. To that end, we adopt the novel Fourier ARDL modeling. The results claim that oil rent escalates financial development in the long run, while gas and coal rent impede it. On the contrary, oil rent mitigates financial development in the short run, whereas gas and coal rent promote it. Thus, we direct several policy stances to promote financial development. © 2024 Elsevier Ltd
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