Pub Date : 2025-03-19DOI: 10.1016/j.resourpol.2025.105560
Marc Bascompta, Lluís Sanmiquel, Nor Sidki-Rius, Enrique Bonet, Maria Teresa Yubero
A Corporate Social Responsibility (CSR) index is introduced to quantitatively evaluate quarrying activities. The index is based on fifteen indicators representing the environmental, social, and economic dimensions, providing a straightforward and flexible tool to analyze and enhance the value of quarrying projects at any stage. The proposed method enables the assessment of a quarry through three levels: individual indicators, dimensions (comprising multiple indicators), and an aggregated value encompassing all three dimensions. The Quarrying CSR index has been applied to three case studies, demonstrating its effectiveness and potential applications within the sector. Additionally, it relies on easily verifiable data, promoting transparency in evaluations and fostering stronger engagement with stakeholders. The system also facilitates the analysis of patterns and trends across subsectors and regions within the quarrying industry, as well as the evaluation of policy implementation in the sector.
{"title":"Quarrying CSR index: Social, economic and environmental factors in the analysis of the quarrying industry","authors":"Marc Bascompta, Lluís Sanmiquel, Nor Sidki-Rius, Enrique Bonet, Maria Teresa Yubero","doi":"10.1016/j.resourpol.2025.105560","DOIUrl":"10.1016/j.resourpol.2025.105560","url":null,"abstract":"<div><div>A Corporate Social Responsibility (CSR) index is introduced to quantitatively evaluate quarrying activities. The index is based on fifteen indicators representing the environmental, social, and economic dimensions, providing a straightforward and flexible tool to analyze and enhance the value of quarrying projects at any stage. The proposed method enables the assessment of a quarry through three levels: individual indicators, dimensions (comprising multiple indicators), and an aggregated value encompassing all three dimensions. The Quarrying CSR index has been applied to three case studies, demonstrating its effectiveness and potential applications within the sector. Additionally, it relies on easily verifiable data, promoting transparency in evaluations and fostering stronger engagement with stakeholders. The system also facilitates the analysis of patterns and trends across subsectors and regions within the quarrying industry, as well as the evaluation of policy implementation in the sector.</div></div>","PeriodicalId":20970,"journal":{"name":"Resources Policy","volume":"103 ","pages":"Article 105560"},"PeriodicalIF":10.2,"publicationDate":"2025-03-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143643914","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-03-19DOI: 10.1016/j.resourpol.2025.105562
Nitish Kumar, Kumar Shaurav
The paper examines the aggregated total natural resources and disaggregated resources such as oil, gas and coal impact on financial development in India from 1970 to 2020 including the role of energy consumption and physical capital. For the analysis, the study utilizes the linear as well as non-linear Autoregressive Distributed Lag model and the Breitung-Candelon spectral causality test. The findings from the linear model illustrate those natural resources, whether considered in aggregate or disaggregated forms, play a significant role in financial development in both the long and short term. The non-linear autoregressive model, on the other hand, reveals that shocks in total natural resources, at both aggregated and disaggregated levels, have a significant positive impact on financial development. The causality analysis highlights that total natural resources, coal, oil, gas resources and physical capital have a long-term relationship with financial development, while energy consumption has a medium and short-term relationship with financial development. Our finding highlights the importance of studying natural resources for policy formulation. The study provides pragmatic insights for India, focusing on efficient resource management and its utilization, investment in critical infrastructure, and sustainable energy consumption for financial growth.
{"title":"Do disaggregated natural resources foster financial development? Evidence from linear and non-linear approaches","authors":"Nitish Kumar, Kumar Shaurav","doi":"10.1016/j.resourpol.2025.105562","DOIUrl":"10.1016/j.resourpol.2025.105562","url":null,"abstract":"<div><div>The paper examines the aggregated total natural resources and disaggregated resources such as oil, gas and coal impact on financial development in India from 1970 to 2020 including the role of energy consumption and physical capital. For the analysis, the study utilizes the linear as well as non-linear Autoregressive Distributed Lag model and the Breitung-Candelon spectral causality test. The findings from the linear model illustrate those natural resources, whether considered in aggregate or disaggregated forms, play a significant role in financial development in both the long and short term. The non-linear autoregressive model, on the other hand, reveals that shocks in total natural resources, at both aggregated and disaggregated levels, have a significant positive impact on financial development. The causality analysis highlights that total natural resources, coal, oil, gas resources and physical capital have a long-term relationship with financial development, while energy consumption has a medium and short-term relationship with financial development. Our finding highlights the importance of studying natural resources for policy formulation. The study provides pragmatic insights for India, focusing on efficient resource management and its utilization, investment in critical infrastructure, and sustainable energy consumption for financial growth.</div></div>","PeriodicalId":20970,"journal":{"name":"Resources Policy","volume":"103 ","pages":"Article 105562"},"PeriodicalIF":10.2,"publicationDate":"2025-03-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143643912","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-03-18DOI: 10.1016/j.resourpol.2025.105563
Jean Marie Stevy Sama , Théodore Patrice Nna Nna , Flavian Emmanuel Sapnken , Jean Gaston Tamba
The development of a country's energy resources is strongly influenced by its institutional environment. This study analyses the symmetric and asymmetric effects, as well as the causal relationships between political stability and crude oil production in Cameroon, taking into account government efficiency, foreign direct investment (FDI) and GDP per capita over the period 1996–2022. To do this, we used the Toda Yamamoto causality test, as well as linear autoregressive models (ARDL) and non-linear autoregressive models (NARDL). The results show that the short-term negative impacts on crude oil production are due to foreign direct investment (FDI), GDP per capita and political stability. However, in the long term, political stability, FDI and government efficiency have a positive effect on crude oil production. An abruptly favourable shift in political stability leads to a reduction in crude oil production in the short term, while there is no significant impact in the long term. In terms of causality, we identified a unidirectional relationship from political stability to crude oil production and government effectiveness, as well as a bidirectional relationship between GDP per capita and political stability. These results suggest that political stability contributes to reversing Cameroon's oil curse through government efficiency, FDI and economic growth. It is therefore imperative for the Cameroonian government to strengthen political stability as an essential pillar of economic prosperity. This study stands out from previous work by integrating three complementary analytical approaches: ARDL, NARDL and the causality test, to analyse the complex relationship between crude oil production and political stability. In addition to this innovative combination of methods, it also represents the first initiative to explore this dynamic in sub-Saharan Africa, with a particular focus on Cameroon.
{"title":"The role of political stability on crude oil production in Cameroon: Evidence from the ARDL and NARDL models","authors":"Jean Marie Stevy Sama , Théodore Patrice Nna Nna , Flavian Emmanuel Sapnken , Jean Gaston Tamba","doi":"10.1016/j.resourpol.2025.105563","DOIUrl":"10.1016/j.resourpol.2025.105563","url":null,"abstract":"<div><div>The development of a country's energy resources is strongly influenced by its institutional environment. This study analyses the symmetric and asymmetric effects, as well as the causal relationships between political stability and crude oil production in Cameroon, taking into account government efficiency, foreign direct investment (FDI) and GDP per capita over the period 1996–2022. To do this, we used the Toda Yamamoto causality test, as well as linear autoregressive models (ARDL) and non-linear autoregressive models (NARDL). The results show that the short-term negative impacts on crude oil production are due to foreign direct investment (FDI), GDP per capita and political stability. However, in the long term, political stability, FDI and government efficiency have a positive effect on crude oil production. An abruptly favourable shift in political stability leads to a reduction in crude oil production in the short term, while there is no significant impact in the long term. In terms of causality, we identified a unidirectional relationship from political stability to crude oil production and government effectiveness, as well as a bidirectional relationship between GDP per capita and political stability. These results suggest that political stability contributes to reversing Cameroon's oil curse through government efficiency, FDI and economic growth. It is therefore imperative for the Cameroonian government to strengthen political stability as an essential pillar of economic prosperity. This study stands out from previous work by integrating three complementary analytical approaches: ARDL, NARDL and the causality test, to analyse the complex relationship between crude oil production and political stability. In addition to this innovative combination of methods, it also represents the first initiative to explore this dynamic in sub-Saharan Africa, with a particular focus on Cameroon.</div></div>","PeriodicalId":20970,"journal":{"name":"Resources Policy","volume":"103 ","pages":"Article 105563"},"PeriodicalIF":10.2,"publicationDate":"2025-03-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143643913","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-03-15DOI: 10.1016/j.resourpol.2025.105549
Roussos Dimitrakopoulos, Maria Fernanda Del Castillo
This paper aims to identify the sources of value created in the strategic plan of a mining complex when the adaptive simultaneous stochastic optimization of mining complex (ASSOMC) approach is used. This approach considers operational and investment alternatives dynamically within the simultaneous stochastic optimization of mining complex (SSOMC) framework, providing an adaptive strategic plan that manages technical risk and maximizes value. A case study on a world-class mining complex illustrates the effects of this optimization model, comparing the adaptive alternatives of the ASSOMC with the fixed SSOMC case. Results show that considering the SSOMC without alternatives was a starting point, including either investment or operational alternatives in a fixed manner, provides an increase in NPV of 4.4 % and 2.8 %, respectively; whereas considering both jointly increases the NPV by 10.3 %. On the other hand, when adaptive changes are considered over investments, such as additional crushers or conveyor belts, the NPV increases further, by about 20 %. The focus is placed on identifying the location and components where this extra value is created within the mining complex, understanding the effect that the alternatives have, and capitalizing from them. This study finds that, due to the non-linear synergies that exist between the different components of a mining complex, the adaptive aspect of the approach allows the production plan optimization to be proactive and to tailor its configuration according to possible changes and future developments.
{"title":"Adaptive simultaneous stochastic optimization of mining complexes: Where is the value coming from?","authors":"Roussos Dimitrakopoulos, Maria Fernanda Del Castillo","doi":"10.1016/j.resourpol.2025.105549","DOIUrl":"10.1016/j.resourpol.2025.105549","url":null,"abstract":"<div><div>This paper aims to identify the sources of value created in the strategic plan of a mining complex when the adaptive simultaneous stochastic optimization of mining complex (ASSOMC) approach is used. This approach considers operational and investment alternatives dynamically within the simultaneous stochastic optimization of mining complex (SSOMC) framework, providing an adaptive strategic plan that manages technical risk and maximizes value. A case study on a world-class mining complex illustrates the effects of this optimization model, comparing the adaptive alternatives of the ASSOMC with the fixed SSOMC case. Results show that considering the SSOMC without alternatives was a starting point, including either investment or operational alternatives in a fixed manner, provides an increase in NPV of 4.4 % and 2.8 %, respectively; whereas considering both jointly increases the NPV by 10.3 %. On the other hand, when adaptive changes are considered over investments, such as additional crushers or conveyor belts, the NPV increases further, by about 20 %. The focus is placed on identifying the location and components where this extra value is created within the mining complex, understanding the effect that the alternatives have, and capitalizing from them. This study finds that, due to the non-linear synergies that exist between the different components of a mining complex, the adaptive aspect of the approach allows the production plan optimization to be proactive and to tailor its configuration according to possible changes and future developments.</div></div>","PeriodicalId":20970,"journal":{"name":"Resources Policy","volume":"103 ","pages":"Article 105549"},"PeriodicalIF":10.2,"publicationDate":"2025-03-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143628651","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-03-13DOI: 10.1016/j.resourpol.2025.105547
Yang Miao , Yule Tian , Jian Cao , Xinqi Yu
Despite growing awareness of environmental issues, there is limited understanding of how various economic factors, such as green finance and private sector investment, impact the sustainability of this industry. This study examines the sustainability challenges faced by the oil industry in selected OECD countries, focusing on factors that influence its long-term environmental viability. The findings indicate that green finance plays a crucial role in enhancing sustainability, with a 1% increase leading to a 0.31% improvement by promoting eco-friendly investments and reducing carbon emissions. Conversely, private sector investment has a negative impact, with a 1% rise causing a 0.36% decline in sustainability due to the focus on short-term financial returns. Additionally, power generation from fossil fuels and urbanization hinder sustainability by increasing emissions and resource consumption. The study suggests that to improve sustainability, OECD countries should focus on expanding green finance, incentivizing sustainable investments, and advancing digitization in green finance.
{"title":"Green finance and privatization of green projects in the fossil fuels industry","authors":"Yang Miao , Yule Tian , Jian Cao , Xinqi Yu","doi":"10.1016/j.resourpol.2025.105547","DOIUrl":"10.1016/j.resourpol.2025.105547","url":null,"abstract":"<div><div>Despite growing awareness of environmental issues, there is limited understanding of how various economic factors, such as green finance and private sector investment, impact the sustainability of this industry. This study examines the sustainability challenges faced by the oil industry in selected OECD countries, focusing on factors that influence its long-term environmental viability. The findings indicate that green finance plays a crucial role in enhancing sustainability, with a 1% increase leading to a 0.31% improvement by promoting eco-friendly investments and reducing carbon emissions. Conversely, private sector investment has a negative impact, with a 1% rise causing a 0.36% decline in sustainability due to the focus on short-term financial returns. Additionally, power generation from fossil fuels and urbanization hinder sustainability by increasing emissions and resource consumption. The study suggests that to improve sustainability, OECD countries should focus on expanding green finance, incentivizing sustainable investments, and advancing digitization in green finance.</div></div>","PeriodicalId":20970,"journal":{"name":"Resources Policy","volume":"103 ","pages":"Article 105547"},"PeriodicalIF":10.2,"publicationDate":"2025-03-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143620273","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-03-12DOI: 10.1016/j.resourpol.2025.105545
Parul Tomar , Amit Kumar
Poormirzaee et al. (Resour. Policy 77 (2022) 102768) proposed a new approach for solving Z-number (ZN) based multi-criteria decision-making problems (MCDMPs) (MCDMPs in which the rating value of each alternative over each criterion is represented by a ZN). To show the applicability of their proposed approach, Poormirzaee et al. applied their proposed approach to solve a ZN-based MCDMP having five alternatives (A1-A5) and eleven criteria (C1-C11) for implementing Industry 4.0 technologies in the large-scale mines of Iran. Finally, based on the obtained results, Poormirzaee et al. recommended that the third alternative (A3) i.e., the investment of mine owners in providing the required infrastructure is the most appropriate alternative. In this paper, it is pointed out that Poormirzaee et al. have used incorrect arithmetic operations of triangular fuzzy numbers to solve the above-mentioned real-life problem. Therefore, the results of the real-life problem, obtained by Poormirzaee et al. are not correct. Hence, it is inappropriate to follow Poormirzaee et al.’s recommendations for implementing Industry 4.0 technologies in the large-scale mines of Iran.
{"title":"Comment on Smart mining policy: Integrating fuzzy-VIKOR technique and the Z-number concept to implement industry 4.0 strategies in mining engineering (by Poormirzaee et al.)","authors":"Parul Tomar , Amit Kumar","doi":"10.1016/j.resourpol.2025.105545","DOIUrl":"10.1016/j.resourpol.2025.105545","url":null,"abstract":"<div><div>Poormirzaee et al. (Resour. Policy 77 (2022) 102768) proposed a new approach for solving Z-number (ZN) based multi-criteria decision-making problems (MCDMPs) (MCDMPs in which the rating value of each alternative over each criterion is represented by a ZN). To show the applicability of their proposed approach, Poormirzaee et al. applied their proposed approach to solve a ZN-based MCDMP having five alternatives (A1-A5) and eleven criteria (C1-C11) for implementing Industry 4.0 technologies in the large-scale mines of Iran. Finally, based on the obtained results, Poormirzaee et al. recommended that the third alternative (A3) i.e., the investment of mine owners in providing the required infrastructure is the most appropriate alternative. In this paper, it is pointed out that Poormirzaee et al. have used incorrect arithmetic operations of triangular fuzzy numbers to solve the above-mentioned real-life problem. Therefore, the results of the real-life problem, obtained by Poormirzaee et al. are not correct. Hence, it is inappropriate to follow Poormirzaee et al.’s recommendations for implementing Industry 4.0 technologies in the large-scale mines of Iran.</div></div>","PeriodicalId":20970,"journal":{"name":"Resources Policy","volume":"103 ","pages":"Article 105545"},"PeriodicalIF":10.2,"publicationDate":"2025-03-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143600946","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-03-11DOI: 10.1016/j.resourpol.2025.105528
Kelly Lynn Anderson, Shannon Halinski, Khoi Hua, John A. Rupp, John D. Graham
The surge in demand for lithium-ion batteries, driven by the increase in production of electric vehicles, necessitates a robust supply of critical materials. At present, there is no efficient way for scholars or practitioners to access project-specific information about policy-aspects of the critical-material mining sector in the U.S. To address this gap, this article presents the Database of EV Critical Material Projects (DEV-CaMP), a comprehensive and publicly accessible resource to analyze the state of the EV-specific critical material mining sector in the U.S. The database describes planned and active U.S. mines and processing facilities for seven key EV-related materials: cobalt, copper, graphite, lithium, manganese, nickel, and neodymium. Included are 91 project sites, chiefly located in Nevada, Arizona, California, and Idaho. Most developers are headquartered outside the U.S., primarily in Canada and Australia. Lithium and copper projects dominate, with 32 and 31 sites respectively, while fewer projects focus on the other five minerals. Key findings include (1) only thirteen sites are currently active (mostly for copper), with 24 projects delayed indefinitely; most projects [54] are in the exploration or development stages; (2) regulatory and public opposition challenges – like conflicts over water rights, land ownership, and environmental concerns – have impacted 27 sites; (3) federal financial support from the Department of Energy, the Department of Defense, and the Export–Import Bank of the United States has been awarded to 21 projects, mostly for processing rather than mining. Overall, the pioneering database reveals that the U.S. mining sector for EV-related critical materials is emergent yet vulnerable.
{"title":"Hoping to mine: The nascent critical materials industry in the United States","authors":"Kelly Lynn Anderson, Shannon Halinski, Khoi Hua, John A. Rupp, John D. Graham","doi":"10.1016/j.resourpol.2025.105528","DOIUrl":"10.1016/j.resourpol.2025.105528","url":null,"abstract":"<div><div>The surge in demand for lithium-ion batteries, driven by the increase in production of electric vehicles, necessitates a robust supply of critical materials. At present, there is no efficient way for scholars or practitioners to access project-specific information about policy-aspects of the critical-material mining sector in the U.S. To address this gap, this article presents the Database of EV Critical Material Projects (DEV-CaMP), a comprehensive and publicly accessible resource to analyze the state of the EV-specific critical material mining sector in the U.S. The database describes planned and active U.S. mines and processing facilities for seven key EV-related materials: cobalt, copper, graphite, lithium, manganese, nickel, and neodymium. Included are 91 project sites, chiefly located in Nevada, Arizona, California, and Idaho. Most developers are headquartered outside the U.S., primarily in Canada and Australia. Lithium and copper projects dominate, with 32 and 31 sites respectively, while fewer projects focus on the other five minerals. Key findings include (1) only thirteen sites are currently active (mostly for copper), with 24 projects delayed indefinitely; most projects [54] are in the exploration or development stages; (2) regulatory and public opposition challenges – like conflicts over water rights, land ownership, and environmental concerns – have impacted 27 sites; (3) federal financial support from the Department of Energy, the Department of Defense, and the Export–Import Bank of the United States has been awarded to 21 projects, mostly for processing rather than mining. Overall, the pioneering database reveals that the U.S. mining sector for EV-related critical materials is emergent yet vulnerable.</div></div>","PeriodicalId":20970,"journal":{"name":"Resources Policy","volume":"103 ","pages":"Article 105528"},"PeriodicalIF":10.2,"publicationDate":"2025-03-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143593616","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-03-10DOI: 10.1016/j.resourpol.2025.105523
Zia Ur Rahman , Shakil Ahmad , Abbas Khan
In modern times, one of the most significant difficulties many nations confront is fostering economic development and employment while maintaining environmental sustainability. To accomplish this, this research seeks to empirically analyze the impact of unemployment (UE), innovation in environmental technology (IiT), GDP per capita, and energy consumption per capita on carbon emissions (CO2e) per capita among China's top emitters. A new Environmental PhilipshCurve (EPC) framework is used to adjust for other relevant factors, such as natural resource rent (NR), using data ranging from 1990 to 2020. This is the first research investigating the asymmetric effect (increase/decrease) in UE and IiT. Long-run empirical findings of non-linear N-ARDL show that energy and NR are substantial positive contributors to CO2e. Furthermore, negative shocks (reduction) in UE increase CO2e, while positive shocks (increase) in IiT significantly reduce CO2e. The results were further tested using fully modified and dynamic ordinary least squares techniques to ensure robustness. These empirical findings imply that lowering UE levels via adequate climate change mitigation technology adaption would enhance environmental quality. To combat environmental degradation and unemployment (UE), authorities must emphasize programs connected to innovation in environmental technology and renewable energy development.
{"title":"Bridging the EPC and IPAT in the presence of natural resources in China: Considering asymmetries in environmental-related technologies and unemployment","authors":"Zia Ur Rahman , Shakil Ahmad , Abbas Khan","doi":"10.1016/j.resourpol.2025.105523","DOIUrl":"10.1016/j.resourpol.2025.105523","url":null,"abstract":"<div><div>In modern times, one of the most significant difficulties many nations confront is fostering economic development and employment while maintaining environmental sustainability. To accomplish this, this research seeks to empirically analyze the impact of unemployment (UE), innovation in environmental technology (IiT), GDP per capita, and energy consumption per capita on carbon emissions (CO2e) per capita among China's top emitters. A new Environmental PhilipshCurve (EPC) framework is used to adjust for other relevant factors, such as natural resource rent (NR), using data ranging from 1990 to 2020. This is the first research investigating the asymmetric effect (increase/decrease) in UE and IiT. Long-run empirical findings of non-linear N-ARDL show that energy and NR are substantial positive contributors to CO2e. Furthermore, negative shocks (reduction) in UE increase CO2e, while positive shocks (increase) in IiT significantly reduce CO2e. The results were further tested using fully modified and dynamic ordinary least squares techniques to ensure robustness. These empirical findings imply that lowering UE levels via adequate climate change mitigation technology adaption would enhance environmental quality. To combat environmental degradation and unemployment (UE), authorities must emphasize programs connected to innovation in environmental technology and renewable energy development.</div></div>","PeriodicalId":20970,"journal":{"name":"Resources Policy","volume":"103 ","pages":"Article 105523"},"PeriodicalIF":10.2,"publicationDate":"2025-03-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143579380","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-03-09DOI: 10.1016/j.resourpol.2025.105527
Naveed Khan , OlaOluwa S. Yaya , Xuan Vinh Vo , Hassan Zada
In this paper, we examine the volatility and time-frequency connectedness among the financial stress index (FSI), cryptocurrencies namely, Bitcoin, Ethereum, Tether, BNB, Solana, and commodities namely, Gold, Silver, Copper, Platinum, and Brent Oil, using the quantile vector autoregressive (QVAR) frequency connectedness, wavelet coherence, and hedging effectiveness techniques, for the period spanning from June 2020 to December 2023. Findings indicate that the spillover effect among FSI, cryptocurrencies, and commodities substantially varies across different volatility conditions. Also, some cryptocurrencies are net receivers of shocks during normal market conditions, while other cryptocurrencies are net transmitters during extreme market conditions. We also find that, during the bullish market, some commodities (Platinum and Brent oil) are net receivers, while other commodities are net transmitters under extreme market conditions (lower quantiles). Similarly, findings further show that, under extreme volatility conditions (higher quantiles), cryptocurrencies and commodities are net receivers of shocks, while FSI is a net transmitter during these volatility conditions. Using frequency co-movement analysis, we find strong and weak correlations between these series in the short- and long-run for shorter periods. Furthermore, findings provide important implications for policymakers and portfolio managers to pay attention to long-term dynamics and design appropriate policies that mitigate the spillover effects.
{"title":"Quantile time-frequency connectedness and spillovers among financial stress, cryptocurrencies and commodities","authors":"Naveed Khan , OlaOluwa S. Yaya , Xuan Vinh Vo , Hassan Zada","doi":"10.1016/j.resourpol.2025.105527","DOIUrl":"10.1016/j.resourpol.2025.105527","url":null,"abstract":"<div><div>In this paper, we examine the volatility and time-frequency connectedness among the financial stress index (FSI), cryptocurrencies namely, Bitcoin, Ethereum, Tether, BNB, Solana, and commodities namely, Gold, Silver, Copper, Platinum, and Brent Oil, using the quantile vector autoregressive (QVAR) frequency connectedness, wavelet coherence, and hedging effectiveness techniques, for the period spanning from June 2020 to December 2023. Findings indicate that the spillover effect among FSI, cryptocurrencies, and commodities substantially varies across different volatility conditions. Also, some cryptocurrencies are net receivers of shocks during normal market conditions, while other cryptocurrencies are net transmitters during extreme market conditions. We also find that, during the bullish market, some commodities (Platinum and Brent oil) are net receivers, while other commodities are net transmitters under extreme market conditions (lower quantiles). Similarly, findings further show that, under extreme volatility conditions (higher quantiles), cryptocurrencies and commodities are net receivers of shocks, while FSI is a net transmitter during these volatility conditions. Using frequency co-movement analysis, we find strong and weak correlations between these series in the short- and long-run for shorter periods. Furthermore, findings provide important implications for policymakers and portfolio managers to pay attention to long-term dynamics and design appropriate policies that mitigate the spillover effects.</div></div>","PeriodicalId":20970,"journal":{"name":"Resources Policy","volume":"103 ","pages":"Article 105527"},"PeriodicalIF":10.2,"publicationDate":"2025-03-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143579379","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-03-09DOI: 10.1016/j.resourpol.2025.105544
Dagmawe Tenaw
This study estimates traditional and green productivity growth, including natural capital as an input. The key novelty is the use of an alternative output measure (instead of GDP) that accounts for the depreciation of produced capital, depletion of natural resources, and environmental damages to estimate green productivity growth. The study also examines the effects of disregarding capital losses and ecological damages and the role of sectoral composition in differences between the two productivity measures. In doing so, we apply the translog-stochastic production frontier models in a panel of 100 countries from 1999 to 2018. Among our sample countries, only 46 percent had good compliance with the sustainability path; and the average share of capital losses and environmental damages in actual GDP is about 18 percent. Our findings also indicate a decline in global and regional average green productivity growth over the study period. Ignoring the loss of capital stocks and environmental costs of the economy tends to overestimate traditional productivity growth by 0.8–1.6 percent. Sectoral composition plays a crucial role, as tertiarization closes the gap between traditional and green productivity growth while industrialization widens the gap. Overall, countries should actively foster green practices, technologies, and policies to improve green productivity.
{"title":"Green and traditional productivity growth with natural capital: The role of resource depletion, environmental damages and sectoral composition","authors":"Dagmawe Tenaw","doi":"10.1016/j.resourpol.2025.105544","DOIUrl":"10.1016/j.resourpol.2025.105544","url":null,"abstract":"<div><div>This study estimates traditional and green productivity growth, including <strong>natural capital</strong> as an input. The key novelty is the use of an alternative output measure (instead of GDP) that accounts for the depreciation of produced capital, depletion of natural resources, and environmental damages to estimate <strong>green productivity growth</strong>. The study also examines the effects of disregarding capital losses and ecological damages and the role of sectoral composition in differences between the two productivity measures. In doing so, we apply the translog-stochastic production frontier models in a panel of 100 countries from 1999 to 2018. Among our sample countries, only 46 percent had good compliance with the sustainability path; and the average share of capital losses and environmental damages in actual GDP is about 18 percent. Our findings also indicate a decline in global and regional average green productivity growth over the study period. Ignoring the loss of capital stocks and environmental costs of the economy tends to overestimate traditional productivity growth by 0.8–1.6 percent. <strong>Sectoral composition</strong> plays a crucial role, as tertiarization closes the gap between traditional and green productivity growth while industrialization widens the gap. Overall, countries should actively foster green practices, technologies, and policies to improve green productivity.</div></div>","PeriodicalId":20970,"journal":{"name":"Resources Policy","volume":"103 ","pages":"Article 105544"},"PeriodicalIF":10.2,"publicationDate":"2025-03-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143579378","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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