Natural resources management efficiency, green finance and economic outlook: A new perspective into the resources curse hypothesis with green finance for China
摘要
Scholars and academicians today aimed to develop measures for better management of natural resources and how the contribution of green finance can enhance economic development. The current research assesses the intricate link between natural resources, green finance and economic growth of the provinces of China over the period 2000–2017. This research also addresses the significance of institutional quality and technological innovations. The use of a novel moment quantile regression technique is enabled by the non-linear distributional properties of panel data. The empirical findings suggested that green financing has a negative effect on the regional economy. On the contrary, the positive influence of natural resources confirms the resource-blessings hypothesis in the region. Moreover, the quality of institutions and technological innovation are the main factors that affect economic wellbeing. The empirical results of this study are verified using non-parametric and parametric methods, which includes bootstrap quantile regression, the mean group, fixed effect and random effect. Nevertheless, the effect of green finance is noted asymmetric in these estimators. The findings of this study propose formulation of effective policies, that includes improved investments in research and development and technology sectors, and strengthening of institutional quality to improve economic performance in China.