Pub Date : 2024-11-20DOI: 10.1016/j.resourpol.2024.105416
Ghulam Ghouse , Mubasher Iqbal
Resource-rich countries hold potential for the alleviation of social disparities and the promotion of equal opportunities. Well-managed natural resource extraction can spur economic growth, create employment, and provide funds for some of the vital social programs that improve social accessibility to education, healthcare, and infrastructure altogether. Contingent upon such change, this study investigates the impact of natural resource extraction on equitable access for all members of society across countries that happen to be endowed with resources, using data for the period 2011–2022. The Driscoll-Kraay and Panel Quantile Regression methods are used to see how an improvement in resource extraction could benefit society by mainly reducing inequality. Key findings confirm that natural resource extraction positively influences equal access across social domains. FinTech improves directly on the degree of social accessibility and moderates toward sustainable, more inclusive outcomes in the effect of natural resource extraction. The control variables point towards the productive capacities supporting equal access. In contrast, military spending and high energy consumption have adverse effects. The results reveal a dual role of resource extraction and FinTech in helping to achieve inclusive development and underscore policies that would ensure optimal resource management in facilitating equitable societal growth.
{"title":"Resource extraction, FinTech, and social equal access: A quantitative analysis of resource-rich countries","authors":"Ghulam Ghouse , Mubasher Iqbal","doi":"10.1016/j.resourpol.2024.105416","DOIUrl":"10.1016/j.resourpol.2024.105416","url":null,"abstract":"<div><div>Resource-rich countries hold potential for the alleviation of social disparities and the promotion of equal opportunities. Well-managed natural resource extraction can spur economic growth, create employment, and provide funds for some of the vital social programs that improve social accessibility to education, healthcare, and infrastructure altogether. Contingent upon such change, this study investigates the impact of natural resource extraction on equitable access for all members of society across countries that happen to be endowed with resources, using data for the period 2011–2022. The Driscoll-Kraay and Panel Quantile Regression methods are used to see how an improvement in resource extraction could benefit society by mainly reducing inequality. Key findings confirm that natural resource extraction positively influences equal access across social domains. FinTech improves directly on the degree of social accessibility and moderates toward sustainable, more inclusive outcomes in the effect of natural resource extraction. The control variables point towards the productive capacities supporting equal access. In contrast, military spending and high energy consumption have adverse effects. The results reveal a dual role of resource extraction and FinTech in helping to achieve inclusive development and underscore policies that would ensure optimal resource management in facilitating equitable societal growth.</div></div>","PeriodicalId":20970,"journal":{"name":"Resources Policy","volume":"99 ","pages":"Article 105416"},"PeriodicalIF":10.2,"publicationDate":"2024-11-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142703430","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 : 2024-11-19DOI: 10.1016/j.resourpol.2024.105401
Chuanzhi Huo , Weijie Leng , Yuy Xiang
The evolution of the digital economy has emerged as a critical feature in redefining the contribution of controversial factors, such as mineral extraction, especially in the developing world. This study investigates integrating innovative financial technologies with natural resource extraction in developing Asian economies. The objective is to assess the impact of financial integration (both financial innovation and innovative technology) on improving the efficiency of natural resource utilization. For this purpose, this study employs CS-ARDL regression analysis to examine the long-run correlation between the variables from 1990 to 2021. It establishes a positive and enduring correlation between financial innovation and natural resource conservation. Moreover, innovative technologies favorably influence resource consumption as they improve the efficiency and transparency of financial processes. Thus, the results show that financial innovation and innovative technologies have emerged as potent instruments, facilitating access to financial services, improving efficient resource management, and helping conserve resources.Therefore, this study determined that advancing finance integration with technological innovation has emerged as a crucial element in achieving sustainable resource consumption, balance between economic growth, environmental preservation, and social equity in developing economies.
{"title":"Efficient natural resources management through financial and innovative technologies in developing nations from the lens of economic development","authors":"Chuanzhi Huo , Weijie Leng , Yuy Xiang","doi":"10.1016/j.resourpol.2024.105401","DOIUrl":"10.1016/j.resourpol.2024.105401","url":null,"abstract":"<div><div>The evolution of the digital economy has emerged as a critical feature in redefining the contribution of controversial factors, such as mineral extraction, especially in the developing world. This study investigates integrating innovative financial technologies with natural resource extraction in developing Asian economies. The objective is to assess the impact of financial integration (both financial innovation and innovative technology) on improving the efficiency of natural resource utilization. For this purpose, this study employs CS-ARDL regression analysis to examine the long-run correlation between the variables from 1990 to 2021. It establishes a positive and enduring correlation between financial innovation and natural resource conservation. Moreover, innovative technologies favorably influence resource consumption as they improve the efficiency and transparency of financial processes. Thus, the results show that financial innovation and innovative technologies have emerged as potent instruments, facilitating access to financial services, improving efficient resource management, and helping conserve resources.Therefore, this study determined that advancing finance integration with technological innovation has emerged as a crucial element in achieving sustainable resource consumption, balance between economic growth, environmental preservation, and social equity in developing economies.</div></div>","PeriodicalId":20970,"journal":{"name":"Resources Policy","volume":"99 ","pages":"Article 105401"},"PeriodicalIF":10.2,"publicationDate":"2024-11-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142703432","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 : 2024-11-18DOI: 10.1016/j.resourpol.2024.105411
Asif Raihan , Filiz Guneysu Atasoy , Mehmet Burhanettin Coskun , Tipon Tanchangya , Junaid Rahman , Mohammad Ridwan , Tapan Sarker , Ahmed Elkassabgi , Murat Atasoy , Huseyin Yer
This research aims to investigate the influence of FinTech implementation on responsible mineral resources management in Brazilian economy. For the study purposes it has utilized data set from 1990 to 2022 and for data analysis the autoregressive distributed lag (ARDL) approach has been used. The results show cointegration correlation between FinTech adoption, investment in eco-friendly mining, government funding for FinTech in the mining industry, environmental compliance, technological readiness, and sustainable mineral extraction. The result shows that a 1% increase in FinTech adoption and technology infrastructure readiness would improve sustainable mineral management by 0.01% and 0.03% respectively. However, a 1% increase in the government funding for FinTech in the mining industry, environmental compliance, and investments in sustainable mining technology adversely affect sustainable mineral management by 0.2%, 0.1%, and 0.1% over the long term. The finding provides insight about how variables may affect sustainable mining policies in the future. FinTech adoption and technology flexibility are expected to have a favorable impact on natural resources. This research offers important insights for using natural resources responsibly in the shift to Industry 4.0 by utilizing FinTech and technological readiness in Brazil.
{"title":"Fintech adoption and sustainable deployment of natural resources: Evidence from mineral management in Brazil","authors":"Asif Raihan , Filiz Guneysu Atasoy , Mehmet Burhanettin Coskun , Tipon Tanchangya , Junaid Rahman , Mohammad Ridwan , Tapan Sarker , Ahmed Elkassabgi , Murat Atasoy , Huseyin Yer","doi":"10.1016/j.resourpol.2024.105411","DOIUrl":"10.1016/j.resourpol.2024.105411","url":null,"abstract":"<div><div>This research aims to investigate the influence of FinTech implementation on responsible mineral resources management in Brazilian economy. For the study purposes it has utilized data set from 1990 to 2022 and for data analysis the autoregressive distributed lag (ARDL) approach has been used. The results show cointegration correlation between FinTech adoption, investment in eco-friendly mining, government funding for FinTech in the mining industry, environmental compliance, technological readiness, and sustainable mineral extraction. The result shows that a 1% increase in FinTech adoption and technology infrastructure readiness would improve sustainable mineral management by 0.01% and 0.03% respectively. However, a 1% increase in the government funding for FinTech in the mining industry, environmental compliance, and investments in sustainable mining technology adversely affect sustainable mineral management by 0.2%, 0.1%, and 0.1% over the long term. The finding provides insight about how variables may affect sustainable mining policies in the future. FinTech adoption and technology flexibility are expected to have a favorable impact on natural resources. This research offers important insights for using natural resources responsibly in the shift to Industry 4.0 by utilizing FinTech and technological readiness in Brazil.</div></div>","PeriodicalId":20970,"journal":{"name":"Resources Policy","volume":"99 ","pages":"Article 105411"},"PeriodicalIF":10.2,"publicationDate":"2024-11-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142703429","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 : 2024-11-17DOI: 10.1016/j.resourpol.2024.105404
Xiaodong Yang , Asif Razzaq
The extraction and utilization of mineral resources often lead to environmental pollution and resource depletion, highlighting the urgent need to improve green utilization efficiency. At the same time, Fintech, a fusion of financial services and technological innovation, transforms the traditional financial landscape and significantly affects natural resource markets. Given this, we examines the impact of Fintech on the mineral resources green utilization efficiency (Mrgue) across 30 provincial-level administrative regions in China from 2012 to 2021. The results show that Fintech significantly boosts Mrgue, particularly in the eastern regions of China. However, these effects are less pronounced in the central and western regions. The marginal impact of Fintech on Mrgue is notably positive and strengthens at higher quantiles. A significant improvement in Mrgue is observed only after Fintech surpasses a specific threshold. Lastly, Fintech promotes Mrgue by driving green technological innovation and optimizing the energy consumption structure. These findings offer insights for policymakers to understand Fintech's role better and leverage it to advance Mrgue.
{"title":"Does Fintech influence green utilization efficiency of mineral resources? Evidence from China's regional data","authors":"Xiaodong Yang , Asif Razzaq","doi":"10.1016/j.resourpol.2024.105404","DOIUrl":"10.1016/j.resourpol.2024.105404","url":null,"abstract":"<div><div>The extraction and utilization of mineral resources often lead to environmental pollution and resource depletion, highlighting the urgent need to improve green utilization efficiency. At the same time, Fintech, a fusion of financial services and technological innovation, transforms the traditional financial landscape and significantly affects natural resource markets. Given this, we examines the impact of Fintech on the mineral resources green utilization efficiency (Mrgue) across 30 provincial-level administrative regions in China from 2012 to 2021. The results show that Fintech significantly boosts Mrgue, particularly in the eastern regions of China. However, these effects are less pronounced in the central and western regions. The marginal impact of Fintech on Mrgue is notably positive and strengthens at higher quantiles. A significant improvement in Mrgue is observed only after Fintech surpasses a specific threshold. Lastly, Fintech promotes Mrgue by driving green technological innovation and optimizing the energy consumption structure. These findings offer insights for policymakers to understand Fintech's role better and leverage it to advance Mrgue.</div></div>","PeriodicalId":20970,"journal":{"name":"Resources Policy","volume":"99 ","pages":"Article 105404"},"PeriodicalIF":10.2,"publicationDate":"2024-11-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142658087","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 : 2024-11-16DOI: 10.1016/j.resourpol.2024.105407
Mo Bai , Weixuan Wang , Zhigang Li
This paper analyzes the impact of ESG (Environmental, Social, and Governance) investment on China's transition from fossil fuels between 1990 and 2020 using the ARDL approach. The findings indicate that a 1% rise in ESG investment correlates with a 0.18% increase in the fossil fuels transition index in the short term and 0.36% in the long term, facilitating cleaner technologies and lowering CO2 emissions. Additionally, the development of small and medium-sized enterprises (SMEs) enhances the transition index through the adoption of eco-friendly technologies. Conversely, a 1% growth in industrial production or export volume negatively impacts the index, reflecting increased fossil fuel dependency. Furthermore, GDP per capita adversely affects the transition, revealing a higher demand for fossil fuel-dependent goods. Policy suggestions include enhancing ESG reporting and auditing, fostering a strong green finance sector, promoting environmental rankings, and increasing public awareness through media and education.
本文采用ARDL方法分析了1990年至2020年间ESG（环境、社会和治理）投资对中国化石燃料转型的影响。研究结果表明，环境、社会和治理投资每增加 1%，化石燃料转型指数就会在短期内增加 0.18%，在长期内增加 0.36%，从而促进清洁技术的发展，降低二氧化碳排放。此外，中小型企业（SMEs）的发展也会通过采用生态友好型技术提高转型指数。相反，工业生产或出口量每增长 1%，就会对该指数产生负面影响，反映出对化石燃料的依赖性增加。此外，人均 GDP 也会对转型指数产生负面影响，表明对依赖化石燃料的商品需求增加。政策建议包括：加强环境、社会和公司治理报告和审计，培育强大的绿色金融部门，推广环境排名，以及通过媒体和教育提高公众意识。
{"title":"Private enterprises solution for fossil fuels transition: Role of ESG and carbon reporting","authors":"Mo Bai , Weixuan Wang , Zhigang Li","doi":"10.1016/j.resourpol.2024.105407","DOIUrl":"10.1016/j.resourpol.2024.105407","url":null,"abstract":"<div><div>This paper analyzes the impact of ESG (Environmental, Social, and Governance) investment on China's transition from fossil fuels between 1990 and 2020 using the ARDL approach. The findings indicate that a 1% rise in ESG investment correlates with a 0.18% increase in the fossil fuels transition index in the short term and 0.36% in the long term, facilitating cleaner technologies and lowering CO2 emissions. Additionally, the development of small and medium-sized enterprises (SMEs) enhances the transition index through the adoption of eco-friendly technologies. Conversely, a 1% growth in industrial production or export volume negatively impacts the index, reflecting increased fossil fuel dependency. Furthermore, GDP per capita adversely affects the transition, revealing a higher demand for fossil fuel-dependent goods. Policy suggestions include enhancing ESG reporting and auditing, fostering a strong green finance sector, promoting environmental rankings, and increasing public awareness through media and education.</div></div>","PeriodicalId":20970,"journal":{"name":"Resources Policy","volume":"99 ","pages":"Article 105407"},"PeriodicalIF":10.2,"publicationDate":"2024-11-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142658084","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 : 2024-11-16DOI: 10.1016/j.resourpol.2024.105400
Qiang Wang, Fuyu Zhang, Rongrong Li, Siqi Zhang
Understanding the relationship between natural resource rents and carbon emissions is crucial for achieving a balance between economic development and environmental sustainability. This study reinvestigates the impact of natural resource rents on carbon emissions and explores the threshold effects of geopolitical risks and economic complexity, aiming to provide a more comprehensive understanding of their relationship. Based on an empirical analysis of panel data from 38 countries between 1995 and 2021, the conclusions are as follows. (i) The panel ARDL estimation results reveal that natural resource rents increase carbon emissions over the long term, with this finding remaining robust after addressing endogeneity. (ii) The DPTR model results indicate that natural resource rents have a non-linear impact on carbon emissions, shaped by geopolitical risks and economic complexity. As geopolitical risks escalate, the effect of resource rents on carbon emissions shifts from a reduction to an increase. On the contrary, rising economic complexity reverses this impact, causing natural resource rents to reduce carbon emissions. (iii) Heterogeneity analysis results demonstrate that only the impact of oil and natural gas rents on carbon emissions is affected by high geopolitical risks. Additionally, in contexts of high economic complexity, oil, natural gas, and forest rents help reduce carbon emissions, while coal and mineral rents have a negative impact. Finally, policy implications for global resource management and environmental sustainability that combine geopolitical risk and economic complexity are proposed.
{"title":"Reinvestigating the impact of natural resource rents on carbon emissions: Novel insights from geopolitical risks and economic complexity","authors":"Qiang Wang, Fuyu Zhang, Rongrong Li, Siqi Zhang","doi":"10.1016/j.resourpol.2024.105400","DOIUrl":"10.1016/j.resourpol.2024.105400","url":null,"abstract":"<div><div>Understanding the relationship between natural resource rents and carbon emissions is crucial for achieving a balance between economic development and environmental sustainability. This study reinvestigates the impact of natural resource rents on carbon emissions and explores the threshold effects of geopolitical risks and economic complexity, aiming to provide a more comprehensive understanding of their relationship. Based on an empirical analysis of panel data from 38 countries between 1995 and 2021, the conclusions are as follows. (i) The panel ARDL estimation results reveal that natural resource rents increase carbon emissions over the long term, with this finding remaining robust after addressing endogeneity. (ii) The DPTR model results indicate that natural resource rents have a non-linear impact on carbon emissions, shaped by geopolitical risks and economic complexity. As geopolitical risks escalate, the effect of resource rents on carbon emissions shifts from a reduction to an increase. On the contrary, rising economic complexity reverses this impact, causing natural resource rents to reduce carbon emissions. (iii) Heterogeneity analysis results demonstrate that only the impact of oil and natural gas rents on carbon emissions is affected by high geopolitical risks. Additionally, in contexts of high economic complexity, oil, natural gas, and forest rents help reduce carbon emissions, while coal and mineral rents have a negative impact. Finally, policy implications for global resource management and environmental sustainability that combine geopolitical risk and economic complexity are proposed.</div></div>","PeriodicalId":20970,"journal":{"name":"Resources Policy","volume":"99 ","pages":"Article 105400"},"PeriodicalIF":10.2,"publicationDate":"2024-11-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142658086","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 : 2024-11-16DOI: 10.1016/j.resourpol.2024.105408
Parisa Pakrooh , Matteo Manera
The EU carbon market serves as an innovative financial instrument with the primary objective of contributing to mitigating the impacts of climate change. This market demonstrates significant interconnectedness with fossil energy, precious metal, and financial markets, although limited research has focused on the causality, dependency, intensity and direction of time-varying spillover effects. This study examines how the energy, metal, and financial markets have an impact on the EU carbon market. It focuses on three main research questions, namely: 1) how do these markets affect each other?; 2) how do they connect?; 3) how do volatilities spillover among them? By answering these questions, the study aims to assist EU decision makers to develop effective carbon policies, help investors manage risks and promote practices that are consistent with the EU's climate goal. To achieve these objectives, this paper proposes a novel methodological approach that combines the most recent econometrics methods, such as Directed Acyclic Graph analysis, Canonical Vine Copula models, and Time-Varying parameter Vector Auto Regressive models with Stochastic Volatility with the use of a comprehensive sample of daily data from April 26, 2005 to December 31, 2022. The major findings of this study demonstrate that causality predominantly runs from energy, metal, and financial markets to the EU carbon market. The dependency structure, although varying across different sub-periods, shows a strong relationship observed between oil, coal, silver, copper, EuroStoxx600, and market. Additionally, the oil and copper futures prices exhibit the highest dependence on EUA prices. Furthermore, the study establishes that the EU carbon market is a net receiver of shocks from all other markets, with the energy, metal, and financial markets significantly influencing volatility in EUA prices. The time-varying spillover effect is most pronounced with a one-day lag, and the duration of the spillover effects ranges from 2 to 15 days, gradually diminishing over time. These results have the potential to increase the understanding of the EU carbon market and offer practical guidance for policymakers, investors, and companies involved in this domain.
{"title":"Causality, Connectedness, and Volatility pass-through among Energy-Metal-Stock-Carbon Markets: New Evidence from the EU","authors":"Parisa Pakrooh , Matteo Manera","doi":"10.1016/j.resourpol.2024.105408","DOIUrl":"10.1016/j.resourpol.2024.105408","url":null,"abstract":"<div><div>The EU carbon market serves as an innovative financial instrument with the primary objective of contributing to mitigating the impacts of climate change. This market demonstrates significant interconnectedness with fossil energy, precious metal, and financial markets, although limited research has focused on the causality, dependency, intensity and direction of time-varying spillover effects. This study examines how the energy, metal, and financial markets have an impact on the EU carbon market. It focuses on three main research questions, namely: 1) how do these markets affect each other?; 2) how do they connect?; 3) how do volatilities spillover among them? By answering these questions, the study aims to assist EU decision makers to develop effective carbon policies, help investors manage risks and promote practices that are consistent with the EU's climate goal. To achieve these objectives, this paper proposes a novel methodological approach that combines the most recent econometrics methods, such as Directed Acyclic Graph analysis, Canonical Vine Copula models, and Time-Varying parameter Vector Auto Regressive models with Stochastic Volatility with the use of a comprehensive sample of daily data from April 26, 2005 to December 31, 2022. The major findings of this study demonstrate that causality predominantly runs from energy, metal, and financial markets to the EU carbon market. The dependency structure, although varying across different sub-periods, shows a strong relationship observed between oil, coal, silver, copper, EuroStoxx600, and <span><math><mrow><msub><mtext>CO</mtext><mrow><mn>2</mn><mspace></mspace></mrow></msub></mrow></math></span> market. Additionally, the oil and copper futures prices exhibit the highest dependence on EUA prices. Furthermore, the study establishes that the EU carbon market is a net receiver of shocks from all other markets, with the energy, metal, and financial markets significantly influencing volatility in EUA prices. The time-varying spillover effect is most pronounced with a one-day lag, and the duration of the spillover effects ranges from 2 to 15 days, gradually diminishing over time. These results have the potential to increase the understanding of the EU carbon market and offer practical guidance for policymakers, investors, and companies involved in this domain.</div></div>","PeriodicalId":20970,"journal":{"name":"Resources Policy","volume":"99 ","pages":"Article 105408"},"PeriodicalIF":10.2,"publicationDate":"2024-11-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142658085","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 : 2024-11-15DOI: 10.1016/j.resourpol.2024.105405
Shabnam Zeinedini , Mohammad Sharif Karimi , Azad Khanzadi , Ali Falahati
Political tensions between countries and geopolitical events can create significant uncertainty in financial markets, impacting the prices of traditional assets such as oil and gold, as well as the emerging asset, Bitcoin. This study investigates the effect of gold and oil prices, including their price shocks, on Bitcoin price during two specific conflicts: the Russia-Ukraine war and the Israel-Gaza conflict. To achieve this, we employed the Vector Auto-Regression (VAR) method and wavelet coherence analysis. The data used spans daily observations from January 2022 to April 2024.The findings indicate that gold prices have a positive impact on Bitcoin prices. Specifically, there is a predominantly short-term relationship between gold prices and Bitcoin prices throughout the entire period under review, with this influence gradually decreasing over the medium and long term. Conversely, the relationship between Brent oil prices and Bitcoin prices during the same period shows that crude oil prices generally have a negative and insignificant effect on Bitcoin prices in the short term.
{"title":"Impact of oil and gold prices on Bitcoin price during Russia-Ukraine and Israel-Gaza wars","authors":"Shabnam Zeinedini , Mohammad Sharif Karimi , Azad Khanzadi , Ali Falahati","doi":"10.1016/j.resourpol.2024.105405","DOIUrl":"10.1016/j.resourpol.2024.105405","url":null,"abstract":"<div><div>Political tensions between countries and geopolitical events can create significant uncertainty in financial markets, impacting the prices of traditional assets such as oil and gold, as well as the emerging asset, Bitcoin. This study investigates the effect of gold and oil prices, including their price shocks, on Bitcoin price during two specific conflicts: the Russia-Ukraine war and the Israel-Gaza conflict. To achieve this, we employed the Vector Auto-Regression (VAR) method and wavelet coherence analysis. The data used spans daily observations from January 2022 to April 2024.The findings indicate that gold prices have a positive impact on Bitcoin prices. Specifically, there is a predominantly short-term relationship between gold prices and Bitcoin prices throughout the entire period under review, with this influence gradually decreasing over the medium and long term. Conversely, the relationship between Brent oil prices and Bitcoin prices during the same period shows that crude oil prices generally have a negative and insignificant effect on Bitcoin prices in the short term.</div></div>","PeriodicalId":20970,"journal":{"name":"Resources Policy","volume":"99 ","pages":"Article 105405"},"PeriodicalIF":10.2,"publicationDate":"2024-11-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142658083","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 : 2024-11-14DOI: 10.1016/j.resourpol.2024.105406
Ping Wang , Chengcheng Huang , Gang Zhou , Wenjun Wu , Xinmeng Wu
In recent years, fintech advancements have influenced global coal trade patterns. This study analyzes the impact of fintech on coal trade across 80 countries from 2012 to 2019. Findings from the MGARDL model reveal that increased fintech activity reduces coal imports while boosting exports, suggesting enhanced trade efficiency and access to capital. Income inequality and private infrastructure investment negatively impact coal trade, likely due to restricted financial access and infrastructure limitations. Meanwhile, ICT development supports coal trade by streamlining logistics and finance. The study confirms a bidirectional relationship between fintech and coal trade, emphasizing mutual influence. Policy recommendations include promoting fintech adoption, encouraging sustainable investments, improving financial access, and expanding ICT infrastructure to foster a more sustainable coal trade.
{"title":"Digitalization of the financial market and green coal trade","authors":"Ping Wang , Chengcheng Huang , Gang Zhou , Wenjun Wu , Xinmeng Wu","doi":"10.1016/j.resourpol.2024.105406","DOIUrl":"10.1016/j.resourpol.2024.105406","url":null,"abstract":"<div><div>In recent years, fintech advancements have influenced global coal trade patterns. This study analyzes the impact of fintech on coal trade across 80 countries from 2012 to 2019. Findings from the MGARDL model reveal that increased fintech activity reduces coal imports while boosting exports, suggesting enhanced trade efficiency and access to capital. Income inequality and private infrastructure investment negatively impact coal trade, likely due to restricted financial access and infrastructure limitations. Meanwhile, ICT development supports coal trade by streamlining logistics and finance. The study confirms a bidirectional relationship between fintech and coal trade, emphasizing mutual influence. Policy recommendations include promoting fintech adoption, encouraging sustainable investments, improving financial access, and expanding ICT infrastructure to foster a more sustainable coal trade.</div></div>","PeriodicalId":20970,"journal":{"name":"Resources Policy","volume":"99 ","pages":"Article 105406"},"PeriodicalIF":10.2,"publicationDate":"2024-11-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142658053","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 : 2024-11-13DOI: 10.1016/j.resourpol.2024.105380
N.A. Vafeas , P. Slezak , M.W. Hitzman
The European Union's objectives under the Green and Digital transitions, are contingent on the decarbonisation of essential sectors such as energy, transportation, and communications. At present, the EU does not have sufficient identified mineral resources, nor processing capacity, to supply many of its strategically defined materials. The success of these objectives hinges on the EU's ability to secure a stable and consistent supply of critical raw materials (CRM). Using a systematic three-part assessment of mandated and non-mandated EU policies, European Commission communications, and a review of CRM, the findings reveal that despite efforts to enhance local supply and diversify foreign sources of CRM, there is a lack of cross-sector coherence across social, economic, and technical aspects of recycling. This is further exacerbated by inefficient retention of waste-hosted critical raw materials. Failure to adopt integrative policy measures may result in the EU's continued dependency on undiversified foreign sources for its supply of critical raw materials, thereby compromising its strategic autonomy as well as the goals of the Green and Digital transitions. Improved design of electrical and electronic equipment and processing of waste from these products could conceivably provide a mechanism for a continuous and retained supply of critical raw materials, culminating in a potentially significant resource stream for the Union. The EU can improve resource efficiency, reduce its dependence on imports, and facilitate a truly circular economy by adopting a comprehensive and symbiotic policy framework that quantifies material resources in waste and that recognises the product design stage as an integral facet of the product recycling stage, herein referred to as “forwardcycling”.
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