Journal
RESOURCES POLICY
Volume 76, Issue -, Pages -Publisher
ELSEVIER SCI LTD
DOI: 10.1016/j.resourpol.2022.102612
Keywords
Natural resource abundance; Financial development; Financial resource curse; Business regulations; ASEAN countries
Categories
Ask authors/readers for more resources
This paper examines the financial resource curse hypothesis by studying the relationship between financial development and natural resources rent. The empirical results validate the hypothesis and suggest that business regulations can mitigate the negative impact of natural resources on financial development. This has important policy implications for sustainable development in ASEAN countries.
The natural resource curse hypothesis is largely discussed in the empirical literature; however, little is known regarding the financial resource curse hypothesis through the integration of business regulations. Also, most empirical research in the literature has used conventional estimation methods. To address these research gaps, this paper examines the financial resource curse hypothesis by scrutinizing the linkage between financial development and natural resources rent from 1984 to 2018. Empirical results validate the financial resource curse hypothesis. Business regulations encourage financial development and neutralize the negative consequences of natural resources on financial development. It implies that conducive business regulations mitigate the financial resource curse in ASEAN countries. This condition may be considered essential for the sustainability of natural resource rent-related advancements in financial development, and appropriate policy recommendations could be put forward.
Authors
I am an author on this paper
Click your name to claim this paper and add it to your profile.
Reviews
Recommended
No Data Available