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Abstract:
In this uncertain world, every economy is facing challenges to achieve sustainable development with available resources. Ample research has explored the nexus of natural resources and financial development. However, world uncertainty and financial development's nexus are uncommon in literature. Therefore, this study is planned to re-investigate the nexus of natural resource rents and financial development by recruiting world uncertainty, human capital, and consumer price index. Theoretically, the natural resource curse hypothesis is being followed. To empirically estimate the linkages, "the Method of Moments Quantile Regression (MMQR)" and "Bootstrap Quantile Regression (BSQR)" are employed. Findings report the negative role of world uncertainty with the existence of the natural resource curse. Whereases, human capital, and consumer prices are found to support for financial development in high-income countries. High-income economies are suggested to invest more in human capital and plan to minimize uncertainty in the long-run. Findings have robust policy implications.
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RESOURCES POLICY
ISSN: 0301-4207
Year: 2023
Volume: 81
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JCR@2023
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JCR@2023
ESI Discipline: SOCIAL SCIENCES, GENERAL;
ESI HC Threshold:17
CAS Journal Grade:2
Cited Count:
WoS CC Cited Count: 9
SCOPUS Cited Count: 9
ESI Highly Cited Papers on the List: 0 Unfold All
WanFang Cited Count:
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30 Days PV: 0
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