How does natural resource abundance affect green total factor productivity in the era of green finance? Global evidence

Assessing the impact of natural resources on green economic development in a global context and exploring the impact mechanism are important for addressing the resource curse and achieving Sustainable Development Goals (SDGs). Therefore, this study constructs an econometric model to explore the impact of natural resource abundance (NRA) on green total factor productivity (GTFP) based on a balanced panel dataset of 149 countries from 2001 to 2019. In addition, this study further performs heterogeneity and asymmetry checks and examines the moderating effect of green finance. The main findings are: (1) NRA inhibits the increase of GTFP, i.e., the resource curse hypothesis is verified; (2) the inhibitory effect of NRA on GTFP is greater in regions with higher green productivity than in other regions; (3) green finance can effectively mitigate the inhibitory effect of NRA on GTFP. Finally, the results of this paper provide valuable reference suggestions for relevant policymakers.

Automated summary

This study constructs an econometric model to explore the impact of natural resource abundance (NRA) on green total factor productivity (GTFP) based on a balanced panel dataset of 149 countries from 2001 to 2019. The main findings are: (1) NRA inhibits the increase of GTFP, verifying the resource curse hypothesis; (2) the inhibitory effect of NRA on GTFP is greater in regions with higher green productivity than in other regions; (3) green finance can effectively mitigate the inhibitory effect of NRA on GTFP. The results of this paper provide valuable reference suggestions for relevant policymakers.