Pub Date : 2024-11-12DOI: 10.1016/j.resourpol.2024.105382
Ling Liu
This paper examines the relationship between private investment, digitalization, and coal rent in major coal-consuming countries from 1999 to 2019. Using the CS-FMOLS technique, the results show that a 1% increase in the ICT Development Index raises coal rent by 0.24%, underscoring digitalization's role in enhancing coal industry profitability. Conversely, a 1% increase in private participation in infrastructure reduces coal rent by 0.35%, as private investments focus on sustainable energy. The study concludes that while private investment supports clean energy, digitalization extends coal reliance. To support coal transition, policies should promote green ICT production, renewable energy, green finance, and good governance in sustainable projects.
{"title":"Private climate investment, coal transition and digitalization in the major coal-consuming countries","authors":"Ling Liu","doi":"10.1016/j.resourpol.2024.105382","DOIUrl":"10.1016/j.resourpol.2024.105382","url":null,"abstract":"<div><div>This paper examines the relationship between private investment, digitalization, and coal rent in major coal-consuming countries from 1999 to 2019. Using the CS-FMOLS technique, the results show that a 1% increase in the ICT Development Index raises coal rent by 0.24%, underscoring digitalization's role in enhancing coal industry profitability. Conversely, a 1% increase in private participation in infrastructure reduces coal rent by 0.35%, as private investments focus on sustainable energy. The study concludes that while private investment supports clean energy, digitalization extends coal reliance. To support coal transition, policies should promote green ICT production, renewable energy, green finance, and good governance in sustainable projects.</div></div>","PeriodicalId":20970,"journal":{"name":"Resources Policy","volume":"99 ","pages":"Article 105382"},"PeriodicalIF":10.2,"publicationDate":"2024-11-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142658051","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 : 2024-11-11DOI: 10.1016/j.resourpol.2024.105373
Haithem Awijen , Sami Ben Jabeur , Houssein Ballouk
This study investigates the complex interplay between natural resources policy amendments in the Global South countries and their subsequent impact on equity market volatility, particularly in Asian countries. It scrutinizes how legislative, statute, act, code, or executive decree changes jointly provoke equity market volatility. Utilizing the asymmetric volatility Multiplicative Error Model, our research reveals how alterations in mineral policies significantly affect equity market volatility across various nations in the Global South. Notably, China is the most significant influencer, alongside India and Malaysia. The results indicate a strong link between government actions, including policy reforms and fiscal strategies, and the propagation of market volatility. This connection underscores the growing interdependence among Asian stock indices. This study provides valuable perspectives for policymakers, investors, and stakeholders in the Global South seeking to navigate the complex economic implications of natural resources policy decisions on equity markets.
{"title":"Mineral policy dynamics and their impact on equity market volatility in the global south: A multi-country analysis","authors":"Haithem Awijen , Sami Ben Jabeur , Houssein Ballouk","doi":"10.1016/j.resourpol.2024.105373","DOIUrl":"10.1016/j.resourpol.2024.105373","url":null,"abstract":"<div><div>This study investigates the complex interplay between natural resources policy amendments in the Global South countries and their subsequent impact on equity market volatility, particularly in Asian countries. It scrutinizes how legislative, statute, act, code, or executive decree changes jointly provoke equity market volatility. Utilizing the asymmetric volatility Multiplicative Error Model, our research reveals how alterations in mineral policies significantly affect equity market volatility across various nations in the Global South. Notably, China is the most significant influencer, alongside India and Malaysia. The results indicate a strong link between government actions, including policy reforms and fiscal strategies, and the propagation of market volatility. This connection underscores the growing interdependence among Asian stock indices. This study provides valuable perspectives for policymakers, investors, and stakeholders in the Global South seeking to navigate the complex economic implications of natural resources policy decisions on equity markets.</div></div>","PeriodicalId":20970,"journal":{"name":"Resources Policy","volume":"99 ","pages":"Article 105373"},"PeriodicalIF":10.2,"publicationDate":"2024-11-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142658050","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 : 2024-11-09DOI: 10.1016/j.resourpol.2024.105383
Ting Cai , Xinchun Shi , Zhaoyan Shang , Xinxin Zhu , Jingjing Qi
As ESG investment becomes a key sustainability goal, its importance grows amid technological advancements. This study explores the effect of blockchain on ESG investments in 100 Chinese A-listed firms in the metal and mining sectors from 2016 to 2019. CS-FMOLS estimates show that a 1% rise in blockchain use increases ESG investments by 0.017%, underscoring blockchain's role in boosting transparency and efficiency. Additionally, a 1% increase in profits results in a 0.362% rise in ESG investments, and a 1% boost in EPS yields a 0.177% increase in ESG investments. Conversely, a 1% growth in personnel leads to a 0.42% decrease in ESG investment, highlighting a gap in green jobs and literacy. Changes in R&D spending have no significant effect on ESG investments. To enhance ESG investments, policies should include sustainable education, industry-specific cryptocurrencies, blockchain-based credit references, and expanded use in carbon markets.
{"title":"The role of blockchain technology in facilitating finance for metal and mining resources","authors":"Ting Cai , Xinchun Shi , Zhaoyan Shang , Xinxin Zhu , Jingjing Qi","doi":"10.1016/j.resourpol.2024.105383","DOIUrl":"10.1016/j.resourpol.2024.105383","url":null,"abstract":"<div><div>As ESG investment becomes a key sustainability goal, its importance grows amid technological advancements. This study explores the effect of blockchain on ESG investments in 100 Chinese A-listed firms in the metal and mining sectors from 2016 to 2019. CS-FMOLS estimates show that a 1% rise in blockchain use increases ESG investments by 0.017%, underscoring blockchain's role in boosting transparency and efficiency. Additionally, a 1% increase in profits results in a 0.362% rise in ESG investments, and a 1% boost in EPS yields a 0.177% increase in ESG investments. Conversely, a 1% growth in personnel leads to a 0.42% decrease in ESG investment, highlighting a gap in green jobs and literacy. Changes in R&D spending have no significant effect on ESG investments. To enhance ESG investments, policies should include sustainable education, industry-specific cryptocurrencies, blockchain-based credit references, and expanded use in carbon markets.</div></div>","PeriodicalId":20970,"journal":{"name":"Resources Policy","volume":"99 ","pages":"Article 105383"},"PeriodicalIF":10.2,"publicationDate":"2024-11-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142658089","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 : 2024-11-09DOI: 10.1016/j.resourpol.2024.105381
Yonglin Li , Zhili Zuo , Jinhua Cheng , Deyi Xu
As a globally emerging critical mineral, lithium is increasingly prominent in international trade, emphasizing the importance for energy transition and industrial structure upgrading to understand the evolution and formation of the global lithium trade networks (GLTN). From the perspective of industry chain, this paper uses complex network theory to construct GLTN for 2000–2021, investigates the determinants of network structure dependence through an exponential random graph model (ERGM), for analyzing the evolutionary characteristics and formation mechanisms of trade networks in both the holistic and local dimensions. The results show that, firstly, GLTN exhibits the overall characteristics of a "sparse upstream and tight midstream and downstream" network. The downstream exhibits a distinctive small-world network feature. China, the United States and Europe are the most active countries and regions in GLTN, covering the whole industry chains. Second, endogenous structure, node attributes and exogenous network effects all exert an influence on network structure. Regarding the impact of network structural dependence, lithium trade has transitivity effect, connectivity effect, and popularity effect. Third, the shocks of COVID-19 cut off the transitivity effect formed by indirect dependencies to the downstream industry chain first, resulting in a high network volatility. There is a strong heterogeneity in the network structural dependency for the industry chain.
{"title":"Evolutionary characteristics and structural dependence determinants of global lithium trade network: An industry chain perspective","authors":"Yonglin Li , Zhili Zuo , Jinhua Cheng , Deyi Xu","doi":"10.1016/j.resourpol.2024.105381","DOIUrl":"10.1016/j.resourpol.2024.105381","url":null,"abstract":"<div><div>As a globally emerging critical mineral, lithium is increasingly prominent in international trade, emphasizing the importance for energy transition and industrial structure upgrading to understand the evolution and formation of the global lithium trade networks (GLTN). From the perspective of industry chain, this paper uses complex network theory to construct GLTN for 2000–2021, investigates the determinants of network structure dependence through an exponential random graph model (ERGM), for analyzing the evolutionary characteristics and formation mechanisms of trade networks in both the holistic and local dimensions. The results show that, firstly, GLTN exhibits the overall characteristics of a \"sparse upstream and tight midstream and downstream\" network. The downstream exhibits a distinctive small-world network feature. China, the United States and Europe are the most active countries and regions in GLTN, covering the whole industry chains. Second, endogenous structure, node attributes and exogenous network effects all exert an influence on network structure. Regarding the impact of network structural dependence, lithium trade has transitivity effect, connectivity effect, and popularity effect. Third, the shocks of COVID-19 cut off the transitivity effect formed by indirect dependencies to the downstream industry chain first, resulting in a high network volatility. There is a strong heterogeneity in the network structural dependency for the industry chain.</div></div>","PeriodicalId":20970,"journal":{"name":"Resources Policy","volume":"99 ","pages":"Article 105381"},"PeriodicalIF":10.2,"publicationDate":"2024-11-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142658088","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}
The aim of this paper is twofold. First, we assess the impact of natural resource dependence on inclusive growth in Africa and the channels through which this impact is transmitted; and second, we investigate the moderating role of energy in the relationship between natural resources and inclusive growth. Using data from 48 African countries over the period 1995–2020, we then mobilized several recent methods to effectively address the endogeneity issue, including Driscoll-Kraay, the Generalized Method of Moments in System (GMM-S) and the Two-stage Instrumental Variables (2SIV) approach. Several results emerge from the econometric analysis. First, natural resource dependence significantly reduces inclusive growth in Africa. Second, trade openness, human capital, and institutional quality mediate this effect by 46%, 65%, and 18%, respectively. Third, energy use moderates the relationship between natural resources and inclusive growth in Africa. Specifically, access to electricity and clean cooking energy improves the region's inclusive growth, while renewable energy and energy intensity worsen it. Fourth, the control variables significantly affect inclusive growth in line with the literature. First, we suggest large government investments in renewable energy infrastructure to reduce dependence on non-renewable resources, diversify the economy, and promote inclusive, sustainable economic growth in the long run. Second, public policies targeting workers, firms, and communities are needed to ensure an equitable transition to renewable energy to improve energy efficiency on the continent.
{"title":"When energy dispels curse: Linking natural resources, energy and inclusive growth in Africa","authors":"Fabrice Ewolo Bitoto , Augustin Borice Ngounou , Thierry Pondie Messie , Emmanuel Wayisovia Juakaly , Clément Nicodème Mefire Njikam","doi":"10.1016/j.resourpol.2024.105384","DOIUrl":"10.1016/j.resourpol.2024.105384","url":null,"abstract":"<div><div>The aim of this paper is twofold. First, we assess the impact of natural resource dependence on inclusive growth in Africa and the channels through which this impact is transmitted; and second, we investigate the moderating role of energy in the relationship between natural resources and inclusive growth. Using data from 48 African countries over the period 1995–2020, we then mobilized several recent methods to effectively address the endogeneity issue, including Driscoll-Kraay, the Generalized Method of Moments in System (GMM-S) and the Two-stage Instrumental Variables (2SIV) approach. Several results emerge from the econometric analysis. First, natural resource dependence significantly reduces inclusive growth in Africa. Second, trade openness, human capital, and institutional quality mediate this effect by 46%, 65%, and 18%, respectively. Third, energy use moderates the relationship between natural resources and inclusive growth in Africa. Specifically, access to electricity and clean cooking energy improves the region's inclusive growth, while renewable energy and energy intensity worsen it. Fourth, the control variables significantly affect inclusive growth in line with the literature. First, we suggest large government investments in renewable energy infrastructure to reduce dependence on non-renewable resources, diversify the economy, and promote inclusive, sustainable economic growth in the long run. Second, public policies targeting workers, firms, and communities are needed to ensure an equitable transition to renewable energy to improve energy efficiency on the continent.</div></div>","PeriodicalId":20970,"journal":{"name":"Resources Policy","volume":"99 ","pages":"Article 105384"},"PeriodicalIF":10.2,"publicationDate":"2024-11-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142658048","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 : 2024-11-09DOI: 10.1016/j.resourpol.2024.105379
Yanwei Lyu , Wenqiang Wang , You Wu , Jinning Zhang
As a new economic driver, the digital economy emerged globally in recent years. However, its potential role in alleviating the mineral resource curse may be disregarded. In this paper, urban mineral resource curse and digital economy are scientifically quantified through the data of 265 Chinese cities in 2009–2019. The FE model and spatial Durbin model are employed to examine the direct effects, specific mechanisms as well as spillover effects of digital economy on mineral resource curse. When digital economy is less than 0.123, the digital economy results in a worse mineral resource curse, but when digital economy exceeds 0.123, it turns into an enabler for breaking the mineral resource curse. Green total factor productivity, industrial structure upgrading and technological innovation are not only the major mechanisms for digital economy to break mineral resource curse, but also essential channels for the inverted U-shaped relationship. According to the heterogeneity analysis, mineral resource-based cities or cursed cities derive greater benefits for breaking mineral resource curse from digitalization process.
{"title":"Breaking mineral resource curse through digital economy: Resource-based regions' sustainable path in the age of digitalization","authors":"Yanwei Lyu , Wenqiang Wang , You Wu , Jinning Zhang","doi":"10.1016/j.resourpol.2024.105379","DOIUrl":"10.1016/j.resourpol.2024.105379","url":null,"abstract":"<div><div>As a new economic driver, the digital economy emerged globally in recent years. However, its potential role in alleviating the mineral resource curse may be disregarded. In this paper, urban mineral resource curse and digital economy are scientifically quantified through the data of 265 Chinese cities in 2009–2019. The FE model and spatial Durbin model are employed to examine the direct effects, specific mechanisms as well as spillover effects of digital economy on mineral resource curse. When digital economy is less than 0.123, the digital economy results in a worse mineral resource curse, but when digital economy exceeds 0.123, it turns into an enabler for breaking the mineral resource curse. Green total factor productivity, industrial structure upgrading and technological innovation are not only the major mechanisms for digital economy to break mineral resource curse, but also essential channels for the inverted U-shaped relationship. According to the heterogeneity analysis, mineral resource-based cities or cursed cities derive greater benefits for breaking mineral resource curse from digitalization process.</div></div>","PeriodicalId":20970,"journal":{"name":"Resources Policy","volume":"99 ","pages":"Article 105379"},"PeriodicalIF":10.2,"publicationDate":"2024-11-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142658049","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 : 2024-11-06DOI: 10.1016/j.resourpol.2024.105385
Mahboubeh Jafari
This paper aims to investigate how institutional quality can influence the relationship between uncertainty and entrepreneurial activities in a sample of 20 oil-rich developing countries. The World Uncertainty Index (WUI) is employed as the indicator for uncertainty. To mitigate endogeneity issues, we employ a series of panel data models estimated using the Generalized Method of Moments (GMM). We find a higher level of WUI is negatively associated with the new business formation. Furthermore, our findings underscore the vital role of institutional quality in moderating the adverse effects of uncertainty on entrepreneurship. These results remain consistent across various measurements of institutional quality, uncertainty, and new business formation. Additionally, the estimation results confirm the existence of the oil curse hypothesis. The results of this research offer valuable insights for both policy development and management practices.
{"title":"Uncertainty and entrepreneurship in oil-rich developing countries: Does institution matter?","authors":"Mahboubeh Jafari","doi":"10.1016/j.resourpol.2024.105385","DOIUrl":"10.1016/j.resourpol.2024.105385","url":null,"abstract":"<div><div>This paper aims to investigate how institutional quality can influence the relationship between uncertainty and entrepreneurial activities in a sample of 20 oil-rich developing countries. The World Uncertainty Index (WUI) is employed as the indicator for uncertainty. To mitigate endogeneity issues, we employ a series of panel data models estimated using the Generalized Method of Moments (GMM). We find a higher level of WUI is negatively associated with the new business formation. Furthermore, our findings underscore the vital role of institutional quality in moderating the adverse effects of uncertainty on entrepreneurship. These results remain consistent across various measurements of institutional quality, uncertainty, and new business formation. Additionally, the estimation results confirm the existence of the oil curse hypothesis. The results of this research offer valuable insights for both policy development and management practices.</div></div>","PeriodicalId":20970,"journal":{"name":"Resources Policy","volume":"99 ","pages":"Article 105385"},"PeriodicalIF":10.2,"publicationDate":"2024-11-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142593068","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 : 2024-11-05DOI: 10.1016/j.resourpol.2024.105365
Zhang Shuo , Xi laiwang , Gao Junjun
This research analyzes the impact of natural resource revenues on global economic trends in the RCEP countries, emphasizing the importance of resource exploitation in the financial development process. The work explores complex interdependencies between resource extraction, geopolitical risk, economic environment, and trade relationships. Energy efficiency, geopolitical risk, and GDP are the control variables. These findings highlight the importance of natural resource rents, GDP, geopolitical risk, and energy conservation on the trade structure of the RCEP trading partners. Quantile regression studies show the negative effect of oil revenues on world trade, thus providing evidence of the multifaceted link between natural resource earnings and trade outcomes. The findings underscore the significance of policymakers and businesses understanding these interrelated links and their implications for global trade relations. The report offers policy directions for RCEP countries to foster sustainable economic development and enhance export competitiveness. These recommendations aim to further the resource sector's growth, financial infrastructure, and managing geopolitical risks.
{"title":"Impact of natural resource rents on global trade dynamics in RCEP: Economic and geopolitical interdependencies","authors":"Zhang Shuo , Xi laiwang , Gao Junjun","doi":"10.1016/j.resourpol.2024.105365","DOIUrl":"10.1016/j.resourpol.2024.105365","url":null,"abstract":"<div><div>This research analyzes the impact of natural resource revenues on global economic trends in the RCEP countries, emphasizing the importance of resource exploitation in the financial development process. The work explores complex interdependencies between resource extraction, geopolitical risk, economic environment, and trade relationships. Energy efficiency, geopolitical risk, and GDP are the control variables. These findings highlight the importance of natural resource rents, GDP, geopolitical risk, and energy conservation on the trade structure of the RCEP trading partners. Quantile regression studies show the negative effect of oil revenues on world trade, thus providing evidence of the multifaceted link between natural resource earnings and trade outcomes. The findings underscore the significance of policymakers and businesses understanding these interrelated links and their implications for global trade relations. The report offers policy directions for RCEP countries to foster sustainable economic development and enhance export competitiveness. These recommendations aim to further the resource sector's growth, financial infrastructure, and managing geopolitical risks.</div></div>","PeriodicalId":20970,"journal":{"name":"Resources Policy","volume":"99 ","pages":"Article 105365"},"PeriodicalIF":10.2,"publicationDate":"2024-11-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142587132","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 : 2024-11-05DOI: 10.1016/j.resourpol.2024.105398
Kirtiranjan Das , Manoranjan Sahoo , Sarbeswar Mohanty
Sri Lanka's economy heavily depends on remittance inflows to finance its import of essential and intermediate goods. A decline in remittances could severely limit the country's import capacity, affecting overall economic growth and development. This study investigates the impact of crude oil prices on Sri Lankan remittance inflows from 1980 to 2020, while accounting for per capita GDP, financial development, and exchange rates as additional explanatory variables. Employing a nonlinear autoregressive distributed lag (NARDL) model, the analysis reveals significant asymmetric effects of oil price shocks on remittance inflows. In the short run, positive oil price shocks lead to increased remittance inflows, whereas negative shocks reduce them. However, in the long run, both positive and negative oil price shocks have an adverse impact on remittance inflows. Furthermore, changes in per capita GDP, financial development, and exchange rates also play a crucial role in influencing remittance inflows. The findings highlight Sri Lanka's vulnerability to global oil market fluctuations and suggest policy measures to mitigate these risks. Key recommendations include diversifying labor export markets, enhancing financial infrastructure, and reducing dependence on remittance inflows to sustain import capacity and promote long-term economic resilience.
{"title":"Asymmetric relationship between crude oil price and remittance inflows in a small island economy: Evidence from non-linear ARDL approach","authors":"Kirtiranjan Das , Manoranjan Sahoo , Sarbeswar Mohanty","doi":"10.1016/j.resourpol.2024.105398","DOIUrl":"10.1016/j.resourpol.2024.105398","url":null,"abstract":"<div><div>Sri Lanka's economy heavily depends on remittance inflows to finance its import of essential and intermediate goods. A decline in remittances could severely limit the country's import capacity, affecting overall economic growth and development. This study investigates the impact of crude oil prices on Sri Lankan remittance inflows from 1980 to 2020, while accounting for per capita GDP, financial development, and exchange rates as additional explanatory variables. Employing a nonlinear autoregressive distributed lag (NARDL) model, the analysis reveals significant asymmetric effects of oil price shocks on remittance inflows. In the short run, positive oil price shocks lead to increased remittance inflows, whereas negative shocks reduce them. However, in the long run, both positive and negative oil price shocks have an adverse impact on remittance inflows. Furthermore, changes in per capita GDP, financial development, and exchange rates also play a crucial role in influencing remittance inflows. The findings highlight Sri Lanka's vulnerability to global oil market fluctuations and suggest policy measures to mitigate these risks. Key recommendations include diversifying labor export markets, enhancing financial infrastructure, and reducing dependence on remittance inflows to sustain import capacity and promote long-term economic resilience.</div></div>","PeriodicalId":20970,"journal":{"name":"Resources Policy","volume":"99 ","pages":"Article 105398"},"PeriodicalIF":10.2,"publicationDate":"2024-11-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142587133","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}
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