Pub Date : 2025-02-01DOI: 10.1016/j.resourpol.2024.105388
Xuewen Yang
This study investigates the intricate relationship between fossil fuel intensity and sustainable development goals in 24 countries from 2000 to 2020, including 12 high-income and 12 low- and lower-middle-income nations. The findings indicate that higher fossil fuel intensity in high-income countries is linked to reduced death rates and better health outcomes, attributed to advanced technologies and strong healthcare systems. In contrast, low- and lower-middle-income countries experience increased death rates and challenges to sustainability due to poor pollution control and healthcare infrastructure. Additionally, unemployment negatively affects health and sustainability across all countries, while ICT development and income equality have positive impacts. The study suggests that high-income countries should continue investing in clean energy and healthcare, while low- and lower-middle-income nations require support to lessen fossil fuel dependence and enhance healthcare infrastructure.
{"title":"Is fossil fuel intensity adversely affecting health improvement and sustainability?","authors":"Xuewen Yang","doi":"10.1016/j.resourpol.2024.105388","DOIUrl":"10.1016/j.resourpol.2024.105388","url":null,"abstract":"<div><div>This study investigates the intricate relationship between fossil fuel intensity and sustainable development goals in 24 countries from 2000 to 2020, including 12 high-income and 12 low- and lower-middle-income nations. The findings indicate that higher fossil fuel intensity in high-income countries is linked to reduced death rates and better health outcomes, attributed to advanced technologies and strong healthcare systems. In contrast, low- and lower-middle-income countries experience increased death rates and challenges to sustainability due to poor pollution control and healthcare infrastructure. Additionally, unemployment negatively affects health and sustainability across all countries, while ICT development and income equality have positive impacts. The study suggests that high-income countries should continue investing in clean energy and healthcare, while low- and lower-middle-income nations require support to lessen fossil fuel dependence and enhance healthcare infrastructure.</div></div>","PeriodicalId":20970,"journal":{"name":"Resources Policy","volume":"101 ","pages":"Article 105388"},"PeriodicalIF":10.2,"publicationDate":"2025-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143100658","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 : 2025-02-01DOI: 10.1016/j.resourpol.2024.105455
Clement Olalekan Olaniyi, Nicholas Mbaya Odhiambo
Unlike earlier studies, this study explores the role of institutional quality in modifying the impact of natural resource wealth on economic complexity in resource-rich African countries. It also investigates the thresholds of institutional quality in the relationship between natural resource wealth and economic complexity from 1995 to 2021. This study employs fully modified least squares, robust standard error Driscoll-Kraay regression, dynamic common correlated effects, the method of moments quantile regression, and the dynamic panel threshold approach to achieve these objectives. The findings from all estimators indicate that both natural resource wealth and institutional quality independently contribute to improving the economic complexity of resource-rich African countries. However, the interaction between natural resource wealth and institutional quality impedes economic complexity. This finding suggests that institutional quality creates inadequacies that promote negative behaviour, such as racketeering, political interference, corruption, and opportunism, in natural resource wealth management. This phenomenon hampers and undermines the efficient allocation of resource incomes to economic complexity in resource-rich African countries. The study identifies an institutional quality threshold of 5.59 on a scale of 10, above which natural resource wealth strongly stimulates economic complexity. However, most resource-rich African countries fall below this threshold. Therefore, the study concludes that institutions weaken the positive effects of natural resource wealth on economic complexity in resource-rich African countries.
{"title":"Finding explanations for weak economic complexity in resource-rich African countries: Exploring the role of natural resource endowment and institutional quality","authors":"Clement Olalekan Olaniyi, Nicholas Mbaya Odhiambo","doi":"10.1016/j.resourpol.2024.105455","DOIUrl":"10.1016/j.resourpol.2024.105455","url":null,"abstract":"<div><div>Unlike earlier studies, this study explores the role of institutional quality in modifying the impact of natural resource wealth on economic complexity in resource-rich African countries. It also investigates the thresholds of institutional quality in the relationship between natural resource wealth and economic complexity from 1995 to 2021. This study employs fully modified least squares, robust standard error Driscoll-Kraay regression, dynamic common correlated effects, the method of moments quantile regression, and the dynamic panel threshold approach to achieve these objectives. The findings from all estimators indicate that both natural resource wealth and institutional quality independently contribute to improving the economic complexity of resource-rich African countries. However, the interaction between natural resource wealth and institutional quality impedes economic complexity. This finding suggests that institutional quality creates inadequacies that promote negative behaviour, such as racketeering, political interference, corruption, and opportunism, in natural resource wealth management. This phenomenon hampers and undermines the efficient allocation of resource incomes to economic complexity in resource-rich African countries. The study identifies an institutional quality threshold of 5.59 on a scale of 10, above which natural resource wealth strongly stimulates economic complexity. However, most resource-rich African countries fall below this threshold. Therefore, the study concludes that institutions weaken the positive effects of natural resource wealth on economic complexity in resource-rich African countries.</div></div>","PeriodicalId":20970,"journal":{"name":"Resources Policy","volume":"101 ","pages":"Article 105455"},"PeriodicalIF":10.2,"publicationDate":"2025-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143100660","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 : 2025-01-30DOI: 10.1016/j.resourpol.2025.105482
Sławomir Mazurek , Katarzyna Derkowska , Anna Januszewska , Cezary Sroga
In this study, we present findings from a comprehensive program in Poland aimed at identifying historical mining heaps, sedimentation ponds, and industrial waste dumps. This program is part of a broader initiative that evaluates past and present waste streams to determine their potential as secondary sources of metals, with a special emphasis on critical resources, aligning with Poland's Raw Materials Policy. This article primarily outlines the methodology used to create an inventory, analyze the identified sites, and draw conclusions regarding their suitability for future utilization. We highlight the importance of investigating historical waste heaps and processing related objects in the context of transitioning to a circular economy while also considering environmental constraints. We emphasize the critical aspects of the inventory process that provide essential information and stress the significance of a comprehensive historical waste inventory initiative. Additionally, we suggest a framework for evaluation that can be adapted for use in other regions, aiming to enhance recognition of domestic and regional resources. The aim is to present the methodological process of a wide-range historical mining heaps inventory program as well as its objectives and achievements - for other countries or surveys planned in the future.
Historical mining and processing activities in Poland have left numerous facilities containing waste mineral raw materials of varying types and sizes. The Polish Geological Institute – National Research Institute documented approx. 1400 of these objects, recording various parameters related to their dimensions, locations, and waste characteristics. The results are available in an open geodatabase named 'HAŁDY' (meaning ‘HEAPS’). Using the collected data, GIS software, and the multi-criteria analysis we conducted a thorough analytical assessment to identify objects with the highest potential as secondary sources of critical elements and potential for further re-use in other applications. The research revealed that waste heaps from hard coal mining, iron ore extraction, and polymetallic ore extraction are the most abundant in terms of quantity and that objects of significant size in Upper Silesia present the highest potential for detailed valorization. We also conducted detailed, site-specific analysis for 10 objects from different parts of the country, recommending accumulated waste for various possible services.
{"title":"Towards sustainable resource management: A national assessment of historical mining waste in Poland","authors":"Sławomir Mazurek , Katarzyna Derkowska , Anna Januszewska , Cezary Sroga","doi":"10.1016/j.resourpol.2025.105482","DOIUrl":"10.1016/j.resourpol.2025.105482","url":null,"abstract":"<div><div>In this study, we present findings from a comprehensive program in Poland aimed at identifying historical mining heaps, sedimentation ponds, and industrial waste dumps. This program is part of a broader initiative that evaluates past and present waste streams to determine their potential as secondary sources of metals, with a special emphasis on critical resources, aligning with Poland's Raw Materials Policy. This article primarily outlines the methodology used to create an inventory, analyze the identified sites, and draw conclusions regarding their suitability for future utilization. We highlight the importance of investigating historical waste heaps and processing related objects in the context of transitioning to a circular economy while also considering environmental constraints. We emphasize the critical aspects of the inventory process that provide essential information and stress the significance of a comprehensive historical waste inventory initiative. Additionally, we suggest a framework for evaluation that can be adapted for use in other regions, aiming to enhance recognition of domestic and regional resources. The aim is to present the methodological process of a wide-range historical mining heaps inventory program as well as its objectives and achievements - for other countries or surveys planned in the future.</div><div>Historical mining and processing activities in Poland have left numerous facilities containing waste mineral raw materials of varying types and sizes. The Polish Geological Institute – National Research Institute documented approx. 1400 of these objects, recording various parameters related to their dimensions, locations, and waste characteristics. The results are available in an open geodatabase named 'HAŁDY' (meaning ‘HEAPS’). Using the collected data, GIS software, and the multi-criteria analysis we conducted a thorough analytical assessment to identify objects with the highest potential as secondary sources of critical elements and potential for further re-use in other applications. The research revealed that waste heaps from hard coal mining, iron ore extraction, and polymetallic ore extraction are the most abundant in terms of quantity and that objects of significant size in Upper Silesia present the highest potential for detailed valorization. We also conducted detailed, site-specific analysis for 10 objects from different parts of the country, recommending accumulated waste for various possible services.</div></div>","PeriodicalId":20970,"journal":{"name":"Resources Policy","volume":"102 ","pages":"Article 105482"},"PeriodicalIF":10.2,"publicationDate":"2025-01-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143177476","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 : 2025-01-30DOI: 10.1016/j.resourpol.2025.105487
Juan Sebastián Lara-Rodríguez , Morgane M.C. Fritz
This article examines the necessary conditions for sustainable artisanal and small-scale Platinum mining (ASPM) in Colombia as a critical raw material (CRM). Hypothesising the environmental, social, economic and institutional dimensions based upon the Sustainable Development Goals (SDGs) frame, we employ generalised and ordinary least squares to analyse variables within each dimension that impact on ASPM. Through legal instruments, namely, Right to Petition and Constitutional Right Enforcement, we gathered comprehensive data from mining authorities regarding extraction, formalisation and miner registration across 1122 municipalities throughout the 2010s. Our findings reveal multifaceted associations across dimensions: in environment, whilst illegal gold mining shows a positive causal effect on ASPM, coca cultivation displays varying impacts. In the social dimension, higher multidimensional poverty has a significant positive effect on platinum extraction, while violence exhibits a negative causal bond. In the economic dimension, both infrastructure improvements and rural technological progress have significant negative effects on ASPM activity. In the institutional pillar, higher corruption levels show a positive causal link with extraction, whilst armed illegal groups display divergent effects - FARC-EP rebels relate negatively to production, while paramilitary presence connects positively. These findings underscore that sustainable ASPM requires coordinated interventions: strengthening environmental enforcement, addressing poverty whilst improving security, developing infrastructure and rural technification for formalisation, and implementing anticorruption measures alongside peacebuilding efforts. Indeed, we posit some multi-stakeholder actions towards these ends. This case could enhance both local development and global CRMs supply diversification originating from artisanal and small-scale mining (ASM).
{"title":"Conditions for sustainable platinum mining: Insights from artisanal and small-scale mining in Colombia","authors":"Juan Sebastián Lara-Rodríguez , Morgane M.C. Fritz","doi":"10.1016/j.resourpol.2025.105487","DOIUrl":"10.1016/j.resourpol.2025.105487","url":null,"abstract":"<div><div>This article examines the necessary conditions for sustainable artisanal and small-scale Platinum mining (ASPM) in Colombia as a critical raw material (CRM). Hypothesising the environmental, social, economic and institutional dimensions based upon the Sustainable Development Goals (SDGs) frame, we employ generalised and ordinary least squares to analyse variables within each dimension that impact on ASPM. Through legal instruments, namely, Right to Petition and Constitutional Right Enforcement, we gathered comprehensive data from mining authorities regarding extraction, formalisation and miner registration across 1122 municipalities throughout the 2010s. Our findings reveal multifaceted associations across dimensions: in environment, whilst illegal gold mining shows a positive causal effect on ASPM, coca cultivation displays varying impacts. In the social dimension, higher multidimensional poverty has a significant positive effect on platinum extraction, while violence exhibits a negative causal bond. In the economic dimension, both infrastructure improvements and rural technological progress have significant negative effects on ASPM activity. In the institutional pillar, higher corruption levels show a positive causal link with extraction, whilst armed illegal groups display divergent effects - FARC-EP rebels relate negatively to production, while paramilitary presence connects positively. These findings underscore that sustainable ASPM requires coordinated interventions: strengthening environmental enforcement, addressing poverty whilst improving security, developing infrastructure and rural technification for formalisation, and implementing anticorruption measures alongside peacebuilding efforts. Indeed, we posit some multi-stakeholder actions towards these ends. This case could enhance both local development and global CRMs supply diversification originating from artisanal and small-scale mining (ASM).</div></div>","PeriodicalId":20970,"journal":{"name":"Resources Policy","volume":"102 ","pages":"Article 105487"},"PeriodicalIF":10.2,"publicationDate":"2025-01-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143177921","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 : 2025-01-30DOI: 10.1016/j.resourpol.2025.105490
Muhammad Ikram, Rabie Nahdi
Morocco faces the challenge of balancing industrial growth with environmental sustainability, as increasing economic activities have led to rising CO2 emissions. Understanding how key economic factors contribute to mitigating this challenge is essential for achieving sustainable development. Therefore, this study aims to explore the nexus between exports of goods and services, foreign direct investment (FDI), gross capital formation, total natural resource rent, unemployment, and low-carbon transition in Morocco, with a focus on their role in sustainable development. We developed a comprehensive framework to investigate the impact of these variables on low-carbon development via novel mathematical models such as grey relational analysis (GRA) and the grey technique for order of preference by similarity to ideal solution (TOPSIS). The analysis draws on data covering the period from 2000 to 2022. The results reveal that exports of goods and services play a pivotal role, contributing significantly to CO2 emissions and serving as a key indicator of industrial growth, followed by foreign direct investments, which have a weight of 0.580. This study offers actionable insights for decision-makers, businesses, governments, and policymakers, encouraging a shift toward green production in manufacturing exports to reduce CO2 emissions and promote sustainable development in Morocco.
{"title":"Toward sustainable development: Unfolding the nexus among exports, foreign direct investment, capital formation, natural resource rent, unemployment, and low-carbon transition in Morocco","authors":"Muhammad Ikram, Rabie Nahdi","doi":"10.1016/j.resourpol.2025.105490","DOIUrl":"10.1016/j.resourpol.2025.105490","url":null,"abstract":"<div><div>Morocco faces the challenge of balancing industrial growth with environmental sustainability, as increasing economic activities have led to rising CO<sub>2</sub> emissions. Understanding how key economic factors contribute to mitigating this challenge is essential for achieving sustainable development. Therefore, this study aims to explore the nexus between exports of goods and services, foreign direct investment (FDI), gross capital formation, total natural resource rent, unemployment, and low-carbon transition in Morocco, with a focus on their role in sustainable development. We developed a comprehensive framework to investigate the impact of these variables on low-carbon development via novel mathematical models such as grey relational analysis (GRA) and the grey technique for order of preference by similarity to ideal solution (TOPSIS). The analysis draws on data covering the period from 2000 to 2022. The results reveal that exports of goods and services play a pivotal role, contributing significantly to CO<sub>2</sub> emissions and serving as a key indicator of industrial growth, followed by foreign direct investments, which have a weight of 0.580. This study offers actionable insights for decision-makers, businesses, governments, and policymakers, encouraging a shift toward green production in manufacturing exports to reduce CO<sub>2</sub> emissions and promote sustainable development in Morocco.</div></div>","PeriodicalId":20970,"journal":{"name":"Resources Policy","volume":"102 ","pages":"Article 105490"},"PeriodicalIF":10.2,"publicationDate":"2025-01-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143177918","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 : 2025-01-01DOI: 10.1016/j.resourpol.2024.105451
Zhongwen Chen , Usama Awan , Abdelmohsen A. Nassani , Khalid M. Al-Aiban , Khalid Zaman
Achieving sustainable economic development is a prevalent challenge faced by mineral-rich countries in the Global South. The study examines the role of mineral resource rents, government regulatory quality, technological advancement, local downstream processing, supply chain efficiency, and environmental sustainability in fostering regional development in a panel of 10 rich mineral resource-endowed countries of the Global South. Panel data from 2000 to 2022 are utilized for analysis. The study employs a panel ARDL-Bounds testing approach for parameter estimation. Results indicate that, in the long run, mineral resource rents positively boost regional economic growth, supporting the ‘Resource Blessing Hypothesis’. Conversely, a lack of technological innovation decreases regional economic growth, though it has a positive effect in the short run. Both local downstream processing and environmental sustainability have a positive impact on fostering regional growth in both the short and long run. Supply chain efficiency decreases regional growth in the short run but has a positive effect in the long run. The study concluded that sustainable practices and balanced technology strategies are essential to long-term economic prosperity.
{"title":"Enhancing sustainable growth in the global south: The role of mineral resource management, supply chain efficiency, technology advancement, and local downstream processing","authors":"Zhongwen Chen , Usama Awan , Abdelmohsen A. Nassani , Khalid M. Al-Aiban , Khalid Zaman","doi":"10.1016/j.resourpol.2024.105451","DOIUrl":"10.1016/j.resourpol.2024.105451","url":null,"abstract":"<div><div>Achieving sustainable economic development is a prevalent challenge faced by mineral-rich countries in the Global South. The study examines the role of mineral resource rents, government regulatory quality, technological advancement, local downstream processing, supply chain efficiency, and environmental sustainability in fostering regional development in a panel of 10 rich mineral resource-endowed countries of the Global South. Panel data from 2000 to 2022 are utilized for analysis. The study employs a panel ARDL-Bounds testing approach for parameter estimation. Results indicate that, in the long run, mineral resource rents positively boost regional economic growth, supporting the ‘Resource Blessing Hypothesis’. Conversely, a lack of technological innovation decreases regional economic growth, though it has a positive effect in the short run. Both local downstream processing and environmental sustainability have a positive impact on fostering regional growth in both the short and long run. Supply chain efficiency decreases regional growth in the short run but has a positive effect in the long run. The study concluded that sustainable practices and balanced technology strategies are essential to long-term economic prosperity.</div></div>","PeriodicalId":20970,"journal":{"name":"Resources Policy","volume":"100 ","pages":"Article 105451"},"PeriodicalIF":10.2,"publicationDate":"2025-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143092731","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}
Mining is one of the biggest industries in terms of product generation and revenue earned, and is deemed as the lifeline for countries around the world. However, in current times, it is ridden with several problems right from environmental threats to the slow turnover and throughput rate of production it offers. As a result, the demand of digitization and advancement of the mining process emerges so as to improve efficiency. With so many technological breakthroughs, there exists a need to realize what technologies are best suited for the development of a more sustainable mining industry. This study aims to recognize the enabling technologies for digitization of the mining processes using a three-step novel methodology. The findings indicate that sustainability is the most important criterion while big data analytics, machine learning, autonomous vehicles and artificial intelligence are most important technologies that enables digitization of the mining processes for sustainable mining.
{"title":"Digitization of the mining industry: Pathways to sustainability through enabling technologies","authors":"Chinmayee Chatterjee , Rahul Sindhwani , Sachin Kumar Mangla , Nitasha Hasteer","doi":"10.1016/j.resourpol.2024.105450","DOIUrl":"10.1016/j.resourpol.2024.105450","url":null,"abstract":"<div><div>Mining is one of the biggest industries in terms of product generation and revenue earned, and is deemed as the lifeline for countries around the world. However, in current times, it is ridden with several problems right from environmental threats to the slow turnover and throughput rate of production it offers. As a result, the demand of digitization and advancement of the mining process emerges so as to improve efficiency. With so many technological breakthroughs, there exists a need to realize what technologies are best suited for the development of a more sustainable mining industry. This study aims to recognize the enabling technologies for digitization of the mining processes using a three-step novel methodology. The findings indicate that sustainability is the most important criterion while big data analytics, machine learning, autonomous vehicles and artificial intelligence are most important technologies that enables digitization of the mining processes for sustainable mining.</div></div>","PeriodicalId":20970,"journal":{"name":"Resources Policy","volume":"100 ","pages":"Article 105450"},"PeriodicalIF":10.2,"publicationDate":"2025-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143097619","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 : 2025-01-01DOI: 10.1016/j.resourpol.2024.105430
Beni Trojbicz , Mariane Santos Françoso
This study used a Political Economy framework to analyze the political dynamics underlying the design of Local Content Policies (LCPs) and the interaction between technical and political factors in shaping policy guidelines in Brazil from 2003 to 2017. Using a case study, we drew up in-depth interviews, document analysis, and quantitative data to understand the roles of diverse stakeholders in the LCP design process. LCPs are commonly implemented by resource-rich countries to stimulate economic development. The Brazilian oil and gas industry has significantly increased in the early twenty-first century following significant hydrocarbon reserves found in the Continental Shelf. Consequently, LCPs were introduced to maximize the economic benefits of hydrocarbon exploration. However, corruption scandals and corporate bankruptcies negatively affected these policies. Our analysis showed that LCPs faced design failures and inconsistencies over time due to the dominance of vested interests over fundamental technical considerations. Furthermore, ideological shifts within the government intensified policy instability. This study contributes to the discussion on industrial policy design by highlighting the complexities and challenges that undermine the effective implementation of LCP objectives.
{"title":"The Political Economy of local content policy: The Brazilian Oil Industry in the 21st century","authors":"Beni Trojbicz , Mariane Santos Françoso","doi":"10.1016/j.resourpol.2024.105430","DOIUrl":"10.1016/j.resourpol.2024.105430","url":null,"abstract":"<div><div>This study used a Political Economy framework to analyze the political dynamics underlying the design of Local Content Policies (LCPs) and the interaction between technical and political factors in shaping policy guidelines in Brazil from 2003 to 2017. Using a case study, we drew up in-depth interviews, document analysis, and quantitative data to understand the roles of diverse stakeholders in the LCP design process. LCPs are commonly implemented by resource-rich countries to stimulate economic development. The Brazilian oil and gas industry has significantly increased in the early twenty-first century following significant hydrocarbon reserves found in the Continental Shelf. Consequently, LCPs were introduced to maximize the economic benefits of hydrocarbon exploration. However, corruption scandals and corporate bankruptcies negatively affected these policies. Our analysis showed that LCPs faced design failures and inconsistencies over time due to the dominance of vested interests over fundamental technical considerations. Furthermore, ideological shifts within the government intensified policy instability. This study contributes to the discussion on industrial policy design by highlighting the complexities and challenges that undermine the effective implementation of LCP objectives.</div></div>","PeriodicalId":20970,"journal":{"name":"Resources Policy","volume":"100 ","pages":"Article 105430"},"PeriodicalIF":10.2,"publicationDate":"2025-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143141129","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 : 2025-01-01DOI: 10.1016/j.resourpol.2024.105457
Changwoo Chung , Taeyoung Jin
This study investigates the resource curse hypothesis, focusing on the roles of institutional quality and geopolitical risk. Using panel data from 43 countries between 1990 and 2022, we employ robust econometric methods, including the Panel Corrected Standard Error (PCSE) estimator and quantile regression, to test three hypotheses: (1) the resource curse varies by resource type, (2) institutional quality and geopolitical risk act as mediating factors, and (3) the resource curse's impact differs by a country's economic development stage. Our findings reveal that oil, mineral, and forest rents negatively impact economic growth, with institutional quality partially mediating these effects. Conversely, natural gas rent supports the resource blessing hypothesis through the fully mediating effect of institutional quality, while coal rent boosts economic growth but reduces institutional quality. The resource curse behavior varies across economic development. These findings highlight the complex interactions between resource types, institutional quality, geopolitical risk, and economic growth, suggesting that policy improvements in institutional quality can transform resource curses into blessings. The study contributes to the literature by providing new insights into the pathways through which natural resources affect economic growth and offers valuable policy implications for resource-rich countries aiming for sustainable development.
{"title":"Revealing the role of institutional quality and geopolitical risk in natural resources curse hypothesis","authors":"Changwoo Chung , Taeyoung Jin","doi":"10.1016/j.resourpol.2024.105457","DOIUrl":"10.1016/j.resourpol.2024.105457","url":null,"abstract":"<div><div>This study investigates the resource curse hypothesis, focusing on the roles of institutional quality and geopolitical risk. Using panel data from 43 countries between 1990 and 2022, we employ robust econometric methods, including the Panel Corrected Standard Error (PCSE) estimator and quantile regression, to test three hypotheses: (1) the resource curse varies by resource type, (2) institutional quality and geopolitical risk act as mediating factors, and (3) the resource curse's impact differs by a country's economic development stage. Our findings reveal that oil, mineral, and forest rents negatively impact economic growth, with institutional quality partially mediating these effects. Conversely, natural gas rent supports the resource blessing hypothesis through the fully mediating effect of institutional quality, while coal rent boosts economic growth but reduces institutional quality. The resource curse behavior varies across economic development. These findings highlight the complex interactions between resource types, institutional quality, geopolitical risk, and economic growth, suggesting that policy improvements in institutional quality can transform resource curses into blessings. The study contributes to the literature by providing new insights into the pathways through which natural resources affect economic growth and offers valuable policy implications for resource-rich countries aiming for sustainable development.</div></div>","PeriodicalId":20970,"journal":{"name":"Resources Policy","volume":"100 ","pages":"Article 105457"},"PeriodicalIF":10.2,"publicationDate":"2025-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143097618","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 : 2025-01-01DOI: 10.1016/j.resourpol.2024.105447
Dejan Živkov , Boris Kuzman , Miloš Japundžić
In recent years, carbon allowances have experienced significant volatility as a mechanism for reducing CO2 emissions. This study constructs two five-asset portfolios that include carbon emission allowances and various metals, to evaluate which portfolio offers lower exposure to extreme risk and a more favourable return-to-risk profile. Extreme risk is assessed using several parametric VaR models, such as the traditional normal VaR, two non-normal models (logistic and hyper-secant), and the CVaR model. The Omega ratio is utilized to gauge performance in terms of return-to-risk. The portfolios are constructed for both pre-crisis and crisis periods. The similarities in the structure of the constructed VaR portfolios suggest that different objective functions have a limited impact on portfolio design. However, the selection of the VaR model does affect the estimated downside risk, which is crucial for the accuracy of the model and effective extreme risk assessment. Both portfolios function as effective hedges for carbon allowances, achieving a reduction in extreme risk of over 60% during both periods. Nevertheless, the precious metals portfolio, dominated by gold, outperforms the industrial metals portfolio. Analysis of the Omega ratio shows that the precious metals portfolio consistently provides better risk-adjusted returns at all threshold levels, indicating that investors can enhance their returns by combining carbon allowances with precious metals. This outperformance is largely attributed to the significantly lower risk of gold compared to other metal commodities. The results may provide essential guidance for investors and decision-makers alike.
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