Resources Policy 80 (2023) 103192

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Resources Policy
journal homepage: www.elsevier.com/locate/resourpol

China’s resources curse hypothesis: Evaluating the role of green innovation

and green growth
Shu Lin a, *, Ying Yuan b
a
College of Business Administration, Fujian Jiangxia University, Fuzhou, 350108, China
b
School of Business Administration, Jimei University, Xiamen, 361021, China

A R T I C L E I N F O A B S T R A C T

Keywords: Recently, policymakers and scholars have been uncertain about the role that natural resources (TNRR) play in
Natural resources development due to the contradictory evidence in the existing literature. This study aims to investigate the true
Economic growth relationship between TNRR and economic growth in China from 1991 to 2014. This study also considers various
Resource curse
green innovations and renewable energy as control variables. The estimated results asserted that the cointe­
Green innovation
Renewable energy
gration exists between economic growth (GDP), TNRR, environmentally adjusted multifactor productivity
Method of moment quantile regression growth (EAMFPG), development of environmentally related technological innovation, and renewable energy
consumption (REC). Besides, the novel moment quantile regression method is used to determine each variable’s
long-run elasticities, where TNRR is found to be negatively related to the GDP – validating China’s natural
resource curse paradox. Also, EAMFPG, DERTI, and REC adversely affect the GDP in the region. The results are
robust as validated by the long-run estimators: fully modified ordinary least square, dynamic ordinary least
square, and canonical cointegration regression. This study suggests the sustainable extraction of natural re­
sources with the appropriate intervention of regulatory authorities and investment in environmentally-related
technologies and renewable energy sectors to attain sustainable development.

1. Introduction
Maximizing social welfare is the criteria for people’s well-being,
which is the basic crux of economics (Dorfleitner and Grebler, 2022).
Economic activities utilize natural resources (TNRR) and transform
them into other capital and welfare goods for people besides advanta­
geous for the country’s economic progress. TNRR are the main inputs for
the production and economic activities of the country. However, these
economic activities sometimes harshly affect the environment and GDP
growth (Ibrahim and Alagidede, 2017). The TNRR significantly raises
economic development, though, in some parts of the world, the abun­
dance of TNRR becomes a curse to economic progression. The regions
having poor governance and regulations have a resource curse phe­
nomenon. Nonetheless, the curse can be reformed into a blessing for a
nation with better institutional qualities, environmental innovation, and
an effort to encourage green and clean growth (Jianqiang et al., 2020;
Umar et al., 2021; J. Yang et al., 2021b). In the available literature, the
TNRR heterogeneously influences economic development, while green
growth and technology substantially impact a sustainable economy and
environment (Chen et al., 2022; Rizvi et al., 2022; Su et al., 2022; Umar
et al., 2020a, 2020b). They were adopting green technological innova­
tion for the sustainability of the environment and development benefits
in upgrading economic performance (ECP) (Ji et al., 2021; Wang et al.,
2020, 2021; Xu et al., 2022).
China has reformed its growth structure since the 1980s, which has
created differences between several arts of the country in terms of
growth and development, yet the fastest progressing economy across the
globe. Before that phase, the country was vulnerable to poor economic
development (Morrison, 2013). China has abundant resources; never­
theless, the country is facing a resource curse that impedes sustainable
growth (Ielasi et al., 2018). The government owns the profits from TNRR
and residents get fewer benefits from the resource profits. Further, the
gap between Eastern and Western China has divided the exploitation of
resources. Eastern China and the government utilize revenues from
resource exploitation, whereas the Western Chinese are supposed to
solve environmental sustainability issues without having any adequate
funding (Naqvi et al., 2021; Naseer et al., 2020; Zhang et al., 2020). This
has increased the development gap in the different parts of the country
(Cao et al., 2015). According to the World Bank, China’s low-paid labor
and resource-extensive exports have created economic, social, and

* Corresponding author.
E-mail addresses: profshu_lin@outlook.com (S. Lin), dryingyuan@hotmail.com (Y. Yuan).

https://doi.org/10.1016/j.resourpol.2022.103192
Received 1 July 2022; Received in revised form 15 November 2022; Accepted 29 November 2022
Available online 9 December 2022
0301-4207/© 2022 Elsevier Ltd. All rights reserved.
S. Lin and Y. Yuan
environmental disparities in the economy despite being a developed
country (Bansal and Kumar, 2021; Hmaittane et al., 2019). Hence, the
country needs a sustainable path for development with an accurate
regulatory system and a stable business environment besides encour­
aging green growth (World Bank, 2022). Further, regarding the envi­
ronmental index, China ranks 120th with a value of 37.3 out of 180
countries worldwide (Yang and Zhu, 2022). Consequently, the study
needs to scrutinize the role of sustainable green growth, environmental
and technological innovation in assessing the resource curse that may or
may not lead to the Kuznets trap in the Chinese economy.
Based on the research requirements, the study attempts to have the
following objectives. First, the study aims to investigate the resource
curse phenomenon in China, which is still a debatable concept; attrib­
utable to this; some regions are facing sustainability challenges. Second,
the study scrutinizes the effect of green growth and green innovation on
economic growth (GDP). Green technology and growth are essential
factors for escalating growth in the country and escaping resource pro­
fanity. To achieve such (mentioned) objectives, the authors have used
innovative and modern variables in the study. For green growth, envi­
ronmentally adjusted multi-factor productivity growth is attained by
OECD is employed. Besides, the Development of Environmental Related
Technological Innovation, obtained from OECD, is used as a proxy for
green innovation in China. Additionally, Gross Domestic product is used
as a proxy for GDP, and renewable energy consumption (REC) is another
explanatory factor used in the study.
The study is significant in evaluating green growth and green tech­
nological innovation in weakening the resource curse phenomenon in
China. Green growth and environmental innovation significantly pro­
mote environmental innovation and reduce resources’ negative effects
on growth in the country (Liu et al., 2022). ECP can be enhanced at the
cost of environmental innovation and sustainable growth. Therefore, the
study motivates to assess green growth and environmental technological
advancement for investigating the resource curse. In China, some parts
are experiencing the negative impact of the abundance of TNRR and
facing environmental challenges. Moreover, sustainable development is
attained by improving environmental quality, which can only be ach­
ieved by encouraging technological innovation for environmental
growth. Hence, the study is useful in tackling China’s Kuznets trap
(resource curse) (Kuznets, 1955).
Plentiful literature is available on the connotation between TNRR
and GDP. However, the present research contributes to the prevailing
literature by extending the body of knowledge by scrutinizing the ex­
istence of the resource curse in China (Cao et al., 2015). stated that the
resource curse is depleting TNRR in Western China, hampers the envi­
ronment of the country, and affects growth. Hence the study contributes
by analyzing the resource curse phenomenon by estimating the conse­
quences of green innovation and green growth (Huang et al., 2014). and
(Zhang and Brouwer, 2020) analyzed the resource curse in China.
Nevertheless, this concept needs further investigation. The particular
reason for this circumstance is that the relationship is heterogeneous in
different parts of China. Therefore, the study contributes to the pre­
vailing literature by including explanatory factors like green innovation
and green growth in the study, an innovative contribution. Supple­
mentary, the authors employ Quantile regression for assessing the
in-demand nexus. Second, green growth and green innovation are
imperative for the sustainability of the environment as well as the
development of the country. The outcomes are useful in environmental
policymaking and strategies for escaping the resource curse and
achieving a sustainable energy environment and development.
The arrangement of the rest of the manuscript is in the succeeding
order. Section 2 reviews the literature to assess the nexus between the
study variables. Section 3 documents the data and methodology of the
research. Section 4 elucidates the results and discussions, and Section 5
deals with the conclusion and policy implications.
2
Resources Policy 80 (2023) 103192
2. Literature assessment
Understanding the nexus between the variables under study is
documented in this manuscript section.
2.1. Effect of total natural resource rents and renewable energy on GDP
TNRR and ECP are crucial challenges for sustainable growth and
development. Several authors have scrutinized this nexus and observed
heterogeneous outcomes. Hence, this subsegment sheds some light on
available literature for nexus precision (Ampofo et al., 2020). deter­
mined an asymmetric association between TNRR and GDP in different
countries. The findings depicted that countries like Democratic Congo,
Australia, and India have shown the existence of a resource curse that
the TNRR has a hampering effect on the Gross Domestic Product. While
in Canada and Brazil, the TNRR positively influences GDP growth
(Ben-Salha et al., 2018). discovered a bi-directionally causal and feed­
back linkage between TNRR and GDP in resource-rich countries. The
results demonstrated a positive relationship between GDP to TNRR
(Erum and Hussain, 2019). explored the positive linkage between TNRR
and GDP. The empirical results also demonstrated that countries having
low information communication technologies had shown a negative
effect of TNRR on GDP (Abdulahi et al., 2019). examined the positive
connection between total TNRR and GDP. After the required threshold,
the influence becomes negative and impedes GDP (Mohamed, 2020).
observed positive nexus between total resource rents and GDP in the
short run, which turned outs to be negative in the long run in Sudan. The
long-run effect is highly negative than the positive effect in the short
run. Further, some novel studies by (Khan et al., 2022; Kwakwa et al.,
2021; Xie et al., 2022) determined positive and uni-directional causal
relationships between TNRR and GDP, while (Ouoba, 2016; Rahim
et al., 2021; Shabbir et al., 2020) observed negative nexus between them
which hampers GDP in the country. Likewise (Inuwa et al., 2022), have
an inverse connection in the case of Nigeria. The findings demonstrate
the existence of the resource curse phenomenon between the study
variables.
(Gyimah et al., 2022) examined the nexus between REC and GDP.
The results showed that REC has substantially endorsed GDP in the
economy (Bhattacharya et al., 2016). analyzed the positive and signif­
icant impact of REC on the GDP of the economy (Chen et al., 2020; Li
et al., 2021; Su et al., 2021). determined that renewable energy posi­
tively affects a certain threshold level of GDP in developing economies.
At the same time, developed countries have shown no influence. Simi­
larly (Shahbaz et al., 2020), explored REC’s positive and significant
impact on GDP in energy-consuming nations (Cevik et al., 2021).
discovered inconsistent results between REC and GDP (Maji et al.,
2019). observed an inverse relationship between REC and GDP, i.e.,
increasing energy consumption decreases growth. Since one of the major
disadvantages of natural resources is their negative impact on environ­
mental sustainability, which is due to the excessive increase in carbon
and greenhouse gas emissions and harms public health (Wei et al.,
2022). Therefore, the recent study provided evidence that financial
development and inclusion, fiscal decentralization, related environ­
mental policies, environmental-related research and development,
renewable energy, and investment in the energy industry, etc. may help
recover environmental quality and sustainability (Cai et al., 2022; Jiang
et al., 2022; Khan et al., 2021; Luan et al., 2022; Shahzad et al., 2021).
Therefore, natural resources must be handled more efficiently.
2.2. Nexus between GDP and environmentally adjusted factor
productivity
The literature on environmentally adjusted factor productivity is
scarce. However, a few have evaluated the impact on some variables
(Hao et al., 2021). scrutinized the impact of environmentally adjusted
factor productivity on carbon emissions in G7 nations. The findings
S. Lin and Y. Yuan
depicted an inverse association. The outcomes demonstrated that an
increase in green growth decreases carbon emissions that significantly
promote sustainable economic growth. In another research (Gu et al.,
2019), analyzed the estimates of environmentally adjusted factor pro­
ductivity in the Canadian manufacturing sector. The results explained
that an increase in environmental factor productivity significantly de­
creases pollution emissions in the economy (Rodríguez et al., 2018).
discovered that growth in the OECD countries is attained through factor
productivity. Further, the BRICS nations have increased the factor input
usage for enhancing growth in the country (H. Yang et al., 2021a).
scrutinized the environmentally adjusted factor productivity and carbon
emissions. Environmental factor productivity or green growth promotes
sustainable development (Sun et al., 2022). discovered that the growth
targets have an inverse linkage with green total factor productivity (Lee
and Lee, 2022). explored the nexus between green finance and green
factor productivity. Green finance has a substantial impact on green
factor productivity (Shair et al., 2021). determined a significant impact
between the GDP rate and total factor productivity growth rate in the
banking sector.
2.3. The link between GDP and environmental related technological
innovation
In the prevailing literature, limited studies have observed the role of
environmental-related technological innovation on GDP. For instance,
in China (Long et al., 2017), examined the connection between
environmental-related technological innovation on environmental and
GDP. The empirical findings depict that the development of environ­
mental innovation positively and significantly influences Chinese firms’
economic and environmental sustainability. Similarly (Long et al.,
2017), scrutinized that environmental innovation significantly encour­
ages environmental performance and GDP. However, the effect on
environmental performance is higher than the ECP of Korean firms in
China. In another study, environment-related technological innovation
positively influences the ECP of assets and equities in the firm (Bassetti
et al., 2021; Yurdakul and Kazan, 2020) analyzed and demonstrated a
significant but indirect association between eco-innovation and the GDP
of the firms. Nevertheless, asymmetric relationships were observed in
ten countries with the highest GDP. The examined results represent a
positive and momentous effect of green innovation on GDP and pollu­
tion emissions with authentication of the tourism-led growth hypothesis
(Razzaq et al., 2021). In another novel research (Ahmad et al., 2021),
scrutinized the novel impact of green technology and innovation n on
sustainable green growth. The existence of a positive and long-run as­
sociation between the said variables was detected. Similarly, techno­
logical innovation positively affects a country’s green growth
(Talebzadehhosseini and Garibay, 2022). Also, sending green technol­
ogy, besides its research and development, significantly affects the
economy’s GDP positively associated with a sustainable environment
(Karmaker et al., 2021). suggested that environmental taxes increase
technological advancement, which is substantial for sustainable growth.
Further, in novel research on technological innovation for the environ­
ment (Mughal et al., 2022), emphasized that technological innovation
significantly decreases environmental pollution and encourages GDP
and development (Zhou et al., 2021). examined that environment con­
servation technologies significantly impact economic development.
2.4. Research gap
After an in-depth analysis of the pertinent literature, numerous
studies inspected the association between natural resources and
renewable energy and sustainable development. They emphasized pro­
moting renewable energy for a sustainable environment while natural
resources act as a blessing or curse for the country due to certain factors
that impede or foster growth (Cevik et al., 2021; Gyimah et al., 2022;
Khan et al., 2022; Kwakwa et al., 2021; Xie et al., 2022). However, the
3
Resources Policy 80 (2023) 103192
nexus between environmentally related technology and factor produc­
tivity on sustainable development is scarce in the extant literature. But
then again, a few studies signified the associations between green evo­
lution and environmental innovation meaningfully promote environ­
mental innovation and lessen the adverse impacts of resources on the
growth of the country (Liu et al., 2022). Moreover, as per available in­
formation, China is struggling to eliminate the negative impacts of the
abundance of TNRR besides facing drastic environmental challenges.
Therefore, the study is significant in analyzing the role of green growth
and innovation under the presence of the resource curse hypothesis in
the Chinese economy, which is a valuable input in the academic liter­
ature and fills the gap by providing pragmatic evidence.
3. Data and methodology
3.1. Theoretical framework and construction of model
In the contemporary period, the availability of resources is a signif­
icant measure of national strength and a major driver of GDP. Varying
effects of TNRR on GDP may be seen. For instance, the phrase "gospel of
resources" was coined owing to the belief that TNRR supported indus­
trialization and that the fast growth of industrialized nations was initi­
ated due to the availability of TNRR (Wang et al., 2019). In contrast
(Auty, 2002), argued that TNRR is not conducive to long-term devel­
opment. Some nations’ resource wealth has a negative link with their
economic progress, a phenomenon known as the "resource curse." As in
many emerging nations, China’s regional development is imbalanced,
with resource-rich regions experiencing slower GDP than other regions
(Ahmad et al., 2021). This increased reliance disregards investments in
technology as well as human capital, resulting in low-quality progress in
the long term (Yang and Song, 2019). China is likewise a sufferer of the
resource curse, and the prevailing literature on this topic is extensive.
Nonetheless, the excessive exploitation of TNRR damaged production
efficiency and ecological sustainability. In other words, the degradation
of the resource base may result in greater expenses and slower long-term
growth. In the instance of China, the degradation of natural resources is
believed to have played a key role in the recent slowing of economic
development. Hence, this study presumes that TNRR could negatively
affect the Chinese GDP. The increase in environmentally adjusted
multifactor productivity (EAMFP) has been recognized as a leading in­
dicator of green growth. It assesses a country’s potential to create money
from given inputs while considering the consumption of TNRR and the
generation of harmful environmental outputs. The EAMFP has the po­
tential to supplement the standard measure of output, multifactor pro­
ductivity (MFP), which is extensively used by economic and financial
policymakers, and so encourages greater environmental considerations
and challenges in economic policy choices.1 Besides, the economies are
now greatly concerned about developing environmentally related
technological innovation. However, technological innovation contrib­
utes to the GDP and industrial expansion by enhancing productivity
(Long et al., 2017). Yet, the higher production level boosts traditional
fossil fuel consumption, which harms the environment. Therefore, the
scholars suggested that REC and environmental-related technological
innovation (DERTI) could help tackle the said issue. Still, their several
limitations could lead the DERTI and REC to affect the GDP and progress
of the economy adversely. For instance, the higher research and devel­
opment cost, higher implementation cost, technical issues, lack of
knowledge to the general public, higher production cost, lack of so­
phisticated regulatory framework and institutional quality, and fear of
closing down of several industries. Renewable energy slows economic
development by lowering fossil fuel consumption. This decline in
1
See https://www.oecd-ilibrary.org/environment/environmentally-adjusted
-multifactor-productivity_fdd40cbd-en?crawler=true&mimetype=applicati
on/pdf.
S. Lin and Y. Yuan
demand might result in reduced fossil fuel prices and a reduction in
associated output. In general, it may be said that DERTI and REC hinder
economic development via the following channels: These efforts often
result in higher resource conservation and efficiency, decreasing the
natural resources readily available for economic activity. Secondly,
these solutions often need s in new processes and technologies, which
might raise production costs. Lastly, both DERTI and REC may lead to
improved knowledge of environmental concerns and a decline in con­
sumer demand for environmentally hazardous items and services,
leading to decreased output and economic development. Since China is
an emerging economy, implementing environmental technologies and
renewables could harm the GDP and ECP of the country.
Following the research work of (Sohag et al., 2021), the current
research study developed the model given below:
GDPt = α1 + β1 TNRRt + β2 EAMFPGt + β3 DERTIt + β4 RECt + εt (1)
In this case, GDP indicates the gross domestic product and is referred
to as GDP and a dependent variable. On the other hand, TNRR indicates
the total natural resource rents, EAMFPG reveals environmentally
adjusted multifactor productivity growth and captures the green
growth, DERTI reports the development of environmentally related
technological innovation – captures environmental technologies, and
REC is renewable energy consumption. Besides, α indicates the inter­
cept, β s indicates the slopes for the mentioned variables, and the
′
subscript ’t’ captures the time series, which is 1991–2014, due to the
lack of data availability. The data for all these variables are extracted
from various sources, covering the emerging economy – of China. Spe­
cifically, data for EAMFPG and DERTI is obtained from the official site of
OECD (2022), ,2 while data for GDP, TNRR, and REC is obtained from
the World Bank’s (2022), 3 World Development indicators.
3.2. Estimation strategy
Initially, descriptive statistics comprises the median, mean, and
range (with maximum and lowest observation value) of the dataset are
evaluated. Descriptive statistics assist in summarizing and describing the
data. Additionally, the standard deviation for every variable under
consideration is assessed. Typically, this gauge is used to detect insta­
bility in time series. The standard deviation represents the variation(s)
between the mean value and the value of the observations. Further, this
research investigates the regularity of each variable. Specifically,
skewness and Kurtosis are evaluated to understand whether or not the
data is regularly distributed. According to Byrne (2010), these specifi­
cations have critical value ranges between -2 and +2 (skewness) and -7
and +7 (Kurtosis). This research additionally applies the (Jarque and
Bera, 1987) normalcy test, which asserts both the excess Kurtosis and
skewness concurrently, to evaluate the data distribution more thor­
oughly. According to this test, both the excess Kurtosis and skewness
should be equal to zero. If the estimated values are statistically signifi­
cant, however, the null hypothesis may be rejected. The statistics of
(Jarque and Bera, 1987) may be computed using the following equation:
( )
N (K − 3) 2
JB = S2 + (2)
6 4
After the variable’s description and data normality, this research
aims to evaluate the stationarity of the variables. In order to analyze for
long-run elasticities, it is essential that the study variables must be sta­
tionary. Concerning, this research uses the ADF unit root test proposed
by Dickey and Fuller (1979). The said test is applied on the data at both
level and the first difference. After validating the time series’
2
For data, visit: https://stats.oecd.org/.
3
For data, visit: https://databank.worldbank.org/source/world-developme
nt-indicators.
4
Resources Policy 80 (2023) 103192
stationarity, the cointegration relationship between variables was
investigated. This research used the Bayer-Hanck combined cointegra­
tion test, which consists of the isolated cointegration specifications of
(Banerjee et al., 1998; Boswijk, 1994; Engle and Granger, 1987;
Johansen, 1991), to examine the cointegration connection between the
study variables. Nevertheless, if the above said tests are used indepen­
dently, the explanatory power of the cointegration test could produce
misleading results (Shahbaz et al., 2018). In order to expand cointe­
gration analysis and eradicate unclear or conflicting estimates, we used
the combined cointegration test technique provided by (Bayer and
Hanck, 2009). This test employs Fisher’s F-statistics to unite all previ­
ously reported cointegration tests and produce concise and trustworthy
results (Shahbaz et al., 2018). Further, this test requires a distinct
integrating sequence, i.e. I(1), which is valid for this study. This test
suggests that the variables under investigation are not cointegrated.
Nevertheless, the statement may be refused if the critical values are
found lower than the estimated values. Based on the Fisher’s specifica­
tions, the Bayer-Hanck cointegration equation is explained as follows:
EG − J = − 2 [ln(PEG ) + ln(PJ )] (3)
EG − J − Ba − Bo = − 2 [ln(PEG ) + ln(PJ ) + ln(PBa ) + ln(PBo )] (4)
In the preceding equations, P demonstrates the probability value for
EG (Engle and Granger, 1987), J (Johansen, 1991), Ba (Banerjee et al.,
1998), and Bo (Boswijk, 1994) cointegration tests.
Since the estimated results validates the cointegration between the
variables, therefore, this study uses considers the issue of non-normality,
that allow to adopt the novel estimating approach, i.e., Method of Mo­
ments Quantile Regression (MMQR) (Koenker and Bassett Jr, 1978).
were the first to use panel quantile regression to identify dependent
mean and conditional variance. Quantile regression is deemed effective
when the data exhibits the characteristic of non-normal distribution. In
response to the problem of non-normality (Machado and Silva, 2019),
suggest a new technique — the MMQR approach that illustrates the
quantiles estimates in a novel manner (Sarkodie and Strezov, 2019). Eq.
(5) describes the conditional quantile location-scale variant Qy (τ|R) as
follows:
Yit = αi + βRit + (γi + ρ.Zit )μit (5)
Where p(γi +ρZit > 0) is the probability, which is equal to one. The
symbols (such as , β, γ, and ρ) indicates the coefficients to estimate,
where the subscript "i" presents the fixed effect for i = 1,2,… ,n. Besides,
R acts as a component of k-vector as indicated by Z, which is distinctive
variant and captured by " ℩."
Zl = Z℩ (R), ℩ = 1, 2, …, k (6)
In the preceding equation, Rit is distributed symmetrically and
independently in terms of time (t) and fixed i which is orthogonal to both
t and i (Machado and Silva, 2019), resulting in the stabilizing of external
elements and reserves. Following the context, the main research model
[i.e., Eq. (1)] may be translated into the next model:
Qy (τRit ) = (αi + γi q(τ)) + βRit + ρZit q(τ) (7)
It is important to note that Rit captures explanatory variables such as
TNRR, EAMFPG, DERTI, and REC in logarithmic form. In addition, Rit
records the quantile distribution of the predictor variable (Yit ), which
represents economic growth and is denoted via GDP, which is also
positionally dependent on the quantile. Moreover, [ − αi (τ) ≡ αi +
γi q(τ)] is a scalar coefficient that indicates the sustained influence of τ
quantiles on i. In contrast, the influence of each quantile is autonomous
of the intercept. Nevertheless, depending on the separate temporal
structure of variables, several impacts are vulnerable to modification.
Lastly, q(τ) duplicates the τ-th quantiles, of which the 25th, 50th, and
75th are examined in this empirical study. This research uses the
quantile regression formula, which is:
S. Lin and Y. Yuan Resources Policy 80 (2023) 103192

∑∑
minq θτ (Rit − (γi + ρ.Zit )q) (8) Table-2
i t Estimates of the unit root test.
Variable Augmented Dickey-Fuller Unit Root test statistic
Where θτ (A) = ( τ − 1)AI{A ≤ 0} + TAI{A > 0} , reports the check
function. I(0) I(1)

As robustness estimators, this work employs the fully-modified or­ GDP − 2.674018 − 5.884166***
dinary least square (FMOLS), dynamic ordinary least square (DOLS), EAMFPG − 2.645827 − 6.102651***
REC 1.901492 4.582574***
and canonical cointegration regression (CCR) techniques after getting
− −
TNRR − 2.331384 − 4.664343***
the empirical data for each variable via MMQR. To corroborate the DERTI − 2.333986 − 4.992903***
estimated outcomes of the prior estimator, these estimates offer the
Note: significance of 1%, 5%, and 10% is depicted by ***, **, and *.
average long-run statistical values for each variable under discussion
(see Table 1).
between the variable.
4. Results and discussion Table-3 provides the empirical results of the Bayer-Hanck combined
cointegration test. The reason for opting for this test is that it is more
This chapter provides the examined results obtained via the methods powerful than employing the (Banerjee et al., 1998; Boswijk, 1994;
discussed in Section-3. First, to empirically estimate the statistical re­ Engle and Granger, 1987; Johansen, 1991), tests of cointegration indi­
sults, this study evaluates the descriptive statistics for each considered vidually (Shahbaz et al., 2018). From the examined results, it is observed
variable. The outcomes of the descriptive statistics are reported in Table- that the statistical values for (Boswijk, 1994; Johansen, 1991), EG-J, and
2. Specifically, the table illustrates each variable’s mean, median, and EG-J-Ba-Bo are greater than the critical values at p<0.05 and 0.01.
range values, which are progressive. This indicates that GDP, DERTI, Therefore, this study rejects the null proposition of no long-run associ­
EAMFPG, REC, and TNR are increasing over the selected time span. ation between the study variables. Instead, this study concludes that the
Since the range values report a substantial difference – revealing the long-run equilibrium relationship exists between GDP, TNRR, EAMFPG,
inconsistent trends in each variable, it is essential to evaluate the stan­ REC, and DERTI. The existence of the long-run association between the
dard deviation for each variable, which represents the differentiation variables allows this study to estimate the long-run elasticities for the
between the mean value and the observation value – replication vola­ variables.
tility in a variable. The standard deviation estimates asserted that After validating the cointegration between the study variables, the
volatility exists in all the variables, which is highest in EAMFPG (2.155), current research examines the long-run coefficient values for each var­
followed by GDP (0.297), TNRR (0.220), REC (0.179), and DERTI iable. Before long-run estimations, it is essential to use appropriate es­
(0.103). After providing the data in summarized form, this study tested timators while considering the data specifications. Since the J.B
the skewness and Kurtosis – the basic measures for indicating the normality test reveals that two out of the total variables follow asym­
normalcy of the variables. However, other comprehensive measures metric distribution, while the data is stationary at first difference.
reveal the data normality. For instance, the J.B normality test is regar­ Therefore, this study applied the novel MMQR estimator, which is
ded as powerful as this test simultaneously considers the skewness and influential in tackling the issue of data non-linearity. The estimated
excess Kurtosis to illustrate the variable’s distribution. The estimated outcomes of the said approach are given in Table-4. From the given
results of the under-discussion test asserted that the statistical values for results, it is observed that TNRR is negatively affecting the GDP of China.
DERTI and EAMFPG are statistically significant at 1% and 10%, More precisely, a percentage increase in the TNRR reduces the GDP by
respectively. Therefore, the test’s null proposition of the normal data 0.287–0.221%. The estimated results are highly statistically significant
distribution is rejected – concluding that these variables are asymmet­ at 1% and 5% levels, which are in line with the existing studies of (Inuwa
rically distributed. On the other hand, variables such as GDP, REC, and et al., 2022; Ouoba, 2016; Shabbir et al., 2020), which validates the
TNRR fail to reject the proposed hypothesis. Therefore, these variables curse of natural resource (NRC) in various panel as well as times series
follow the linear distribution. estimations. The reason for the negative impact of TNRR on GDP and
Although this study is dealing with time-series data: thus, it is development is that the TNRR is depleting in nature. However, the
essential that the data used for the long-run elasticities must be sta­ higher level of TNRR exploitation and dependence leads the country to
tionary. Therefore, the current study applied the ADF unit root test to all
the variables. The estimated prediction of the stated test is given in Table-3
Table-2. Specifically, the obtained results asserted that the unit root Cointegration test results.
exists in all the variables at I(0). Accordingly, this study tested the sta­ Bayer-Hanck Combined Cointegration Test
tionarity of the variables at I(1), where the critical values are found to be Engle-Granger (EG) Johansen (J) Banerjee (Ba) Boswijk (Bo)
lesser than the statistical values at p<0.10, 0.05, and 0.01. Hence, the − 3.1421 129.4729*** 10.7592 260.1702***
null proposition of unit root presence will be rejected, and it is EG-J EG-J-Ba-Bo
concluded that all the variables are stationary – allowing the current 56.65796** 111.92**
study to evaluate whether the long-run equilibrium relationship exists Note: significance of 1%, 5%, and 10% is depicted by ***, ** and *.

Table-1
Descriptive stats and normality estimates.
GDP DERTI EAMFPG REC TNRR

Mean 12.45853 0.881988 2.402577 1.321612 0.568485

Median 12.44223 0.902424 1.883261 1.404175 0.554314
Maximum 12.92050 1.003461 8.199227 1.521902 0.987010
Minimum 11.91796 0.564666 − 0.419840 1.054544 0.241574
Std. Dev. 0.296540 0.102983 2.154951 0.179817 0.220041
Skewness − 0.045059 − 1.302496 1.112321 − 0.344022 0.192408
Kurtosis 1.879147 4.835340 3.715937 1.406563 1.975430
Jarque-Bera 1.264433 10.15446 5.461594 3.012445 1.197827
Probability 0.531413 0.006237 0.065167 0.221746 0.549408

5
S. Lin and Y. Yuan Resources Policy 80 (2023) 103192

Table-4 advantage of such technologies and energy resources that could lead to
Estimated outcomes of MMQR. economic and environmental sustainability. In this instance, the
Variable Location Scale Quantiles empirical findings of the present study may provide a path for scholars,
policymakers, and regulatory authorities to take appropriate actions for
Q25th Q50th Q75th
the immediate recovery of economic growth in China. Moreover, the
TNRR − 0.246*** 0.054 − 0.287*** − 0.246*** − 0.221** significance and robustness of the empirical results are also validated by
[0.075] [0.058] [0.058] [0.077] [0.113]
EAMFPG − 0.008 − 0.007 − 0.003 − 0.008 − 0.012
the significant estimates of the location of MMQR, where each quantiles’
[0.006] [0.004] [0.004] [0.006] [0.011] coefficient value is reported in Figure-1.
DERTI − 0.349*** 0.028 − 0.370*** − 0.349*** − 0.336*** Once the coefficient values are obtained via MMQR, this study aims
[0.077] [0.059] [0.059] [0.077] [0.101] to estimate the validity of the empirical estimates by utilizing the robust
REC − 1.674*** 0.084 − 1.738*** − 1.675*** − 1.738***
estimators for the long-run elasticities. The current study utilizes three
[0.098] [0.075] [0.075] [0.101] [0.153]
Const. 15.140*** − 0.126 15.236*** 15.141*** 15.083*** estimators for the long-run analysis: the FMOLS, DOLS, and CCR
[0.176] [0.135] [0.135] [0.180] [0.262] approach, and the examined results are portrayed in Table-5. From the
outcomes, this study noted that the NRC hypothesis is valid in the case of
Note: GDP is the dependent variable. Significance of 1%, 5%, and 10% is depicted
by ***, **, and *.
China, as the coefficient values of all three estimators display an inverse
impact on the GDP. Besides, the EAMFPG, DERTI, and REC are also
found in inverse relation to the GDP. All the results are significant at
p<0.01, 0.05, 0.10. Thus, the results of the MMQR approach are found
reduce domestic industrial competition, limiting investors to invest in valid. Furthermore, the lower standard error and higher R2 and adjusted
expanding industries and production. Consequently, the country’s R2 values reveal the fitness of the model under consideration.
financial and economic activities are postponed, which are directly
linked to the reduced GDP and performance. TNRR management is now 5. Conclusion and policies
one of the greatest issues confronting emerging nations. The extraction
of non-renewable TNRR, such as gas, oil, minerals, and lumber, has 5.1. Conclusion
frequently been highlighted as a significant factor in initiating, esca­
lating, and maintaining violent conflicts worldwide. Although the existing literature covers most of the debate regarding
On the other hand, environmentally adjusted multifactor produc­ TNRR, the primary question remained unsolved – whether TNRR is a
tivity growth (EAMFPG), DERTI, and REC reduce GDP and performance blessing or a curse for GDP and progress. In other words, the literature
in China. Where DERTI and REC are found significant at p<0.01. illustrates contradictory findings where some of the studies asserted that
Although the EAMFPG is insignificant across quantiles, the magnitude is TNRR is a blessing, and others claimed that TNRR is a curse and
still negative, contributing to lower ECP in the region. Environmentally adversely affects the country’s GDP. In this context, the current study
adjusted multifactor productivity limits economic development by aims to investigate the influence of TNRR on GDP in China, which is an
considering production’s harmful ecological consequences. This en­ emerging economy. Also, these study objectives are to investigate the
compasses water and air pollution, which may result in health issues and role of green innovation and green growth along with the REC between
other severe consequences. EAMFPG gives a more realistic estimate of a 1991 and 2014. Since this study only deals with data having time series
country’s economic output by considering these externalities. With only, various time series estimators are employed to obtain the long-run
reference to DERTI and REC, a percentage increase in these variables elasticities. The unit root estimator reveals that the variables under
significantly reduces the GDP by 0.370–0.336% and 1.738–1.738%, consideration are stationary at I(1), and the cointegration test confirms
respectively. Several of the existing literature also validate the negative the existence of long-run equilibrium association between the variables.
as well as the significant impact of EAMFPG (Hao et al., 2021; H. Yang Due to the asymmetrical data distribution, this study applied the novel
et al., 2021a), DERTI, and REC (Cevik et al., 2021; Maji et al., 2019) on MMQR approach, which is more influential in tackling the issue of non-
GDP. Many industries rely on TNRR as inputs, while production and linearity. The estimated results validate that TNRR is negatively asso­
consumption contribute to emissions and environmental stresses. Inad­ ciated with GDP – thus, it is a curse for Chinese GDP. Furthermore, the
equate environmental quality negatively influences economic develop­ estimated results illustrate that environmentally adjusted multifactor
ment and well-being by diminishing the amount and quality of productivity, environmentally-related technological innovation, and
resources, causing adverse health effects. Besides, REC is also in the REC significantly and adversely affect the GDP of these regions. Unlike
initial stages of its development and implementation in the industrial the previous studies that regarded green growth, green innovation, and
sectors, where some still use traditional energy extraction measures. renewables in favor of economically developed for developed nations,
However, DERTI and REC are inversely related to GDP for various rea­ this study provides evidence that the lower level of technologies and
sons. For instance, the initial implementation or investment cost of renewable energy is substantial in reducing the GDP of China.
DERTI and REC is very high, due to which the middle-income or
emerging economies cannot invest in such resources. Besides, the
5.2. Policy implications
technologies are rapidly evolving, due to which a short-term benefit
could not be expected as it is a time-taking process to be adopted by a
Following the empirical outcomes, this study suggests that TNRR
large scale of population. Furthermore, several environmental technol­
should sustainably regulate their TNRR to enhance GDP and develop­
ogies are at the research and development stages, due to which the
ment. Since China is one the leading minerals resource-rich regions, it is
authorities and general public are unaware of the performance result.
pertinent that the authorities invest more in this area and strengthen
Furthermore, implementing DERTI and REC in the industrial sector,
various regulatory institutions that could reduce its negative influence
which is regarded as the backbone of the economy’s health, could lead
and transform it into blessings. In addition, there is a need for China in
to the postponement of production. As a result, the inefficient trans­
the fields of green growth and green innovation. As an emerging econ­
formation towards such technologies and energy resources may slow
omy, China should encourage the use of renewable energy by subsi­
down the economic progress and development of the country. Besides,
dizing those industries that are ready to reduce their adverse
China is still not fully prepared to implement green technologies-based
environmental impact. Also, the policy-makers are directed to pay more
products and services due to lacking skilled human resources. Also, there
attention to the research and development in the fields of green tech­
are various geographical and storage limitations in terms of renewable
nological innovation by encouraging investors and government
energy adaptation and implementation, which limits China from taking
spending in such fields. The higher level of green technological

6
S. Lin and Y. Yuan Resources Policy 80 (2023) 103192

Figure-1. Graphical depiction of MMQR Quantiles.

Table-5
Robustness results.
Variable FMOLS DOLS CCR

Coef. Std. Err. Coef. Std. Err. Coef. Std. Err.

TNRR − 0.230*** − 0.230 − 0.191** 0.044 − 0.235*** 0.049

EAMFPG − 0.011** − 0.011 − 0.015** 0.003 − 0.011* 0.005
DERTI − 0.366*** − 0.366 − 0.362*** 0.074 − 0.363*** 0.084
REC − 1.610*** − 1.610 − 1.596*** 0.057 − 1.619*** 0.069
Const. 15.072*** 15.072 15.063*** 0.083 15.082*** 0.138
R2 0.987 0.999 0.987
Adj. R2 0.985 0.998 0.985

Note: significance of 1%, 5%, and 10% is depicted by ***, ** and *.

innovation will reduce environmental harm, enhance GDP, and lead to review, estimations, preparing draft, review.
sustainable development.
Funding
5.3. Limitations are future recommendations
The authors would like to acknowledge the support from the Scien­
tific and Technological Innovation Think-tank Program of Fujian Asso­
Apart from the substantial contribution of this study to the prevailing
ciation for Science and Technology (No. FJKX-B2004).
literature, this study has several limitations. For instance, the empirical
Authors are also thankfull to Research Start Fund for High Level
examination of non-renewable energy and the possible emissions caused
Talents Introduction Project of Fujian Jiangxia University
due to fossil fuel consumption is out of the study’s scope. Therefore, this
(No.00140196).
study suggests that future researchers analyze the nexus of these vari­
ables with the economic performance of the Chinese economy by
Data availability
considering the extended dataset. In addition, this study provides the
empirics of quantile regression, which is, although a thorough depiction
Data is available on reasonable request for corresponding author or
of the problem, still, this study can be enhanced by findings of the short-
first author.
run influence of variables such as natural resources, renewable energy,
environmentally adjusted multifactor productivity, and development of
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