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What facilitates green economic growth in mineral-endowment countries? The role of digital financial inclusion, mineral resources, and economic governance

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Abstract

International policymakers have been diligently working towards advancing sustainable development and restoring the green environment, as evidenced by the Paris Agreement and COP27. This study, situated within a comprehensive policy framework, examines the dynamic effects of digital financial inclusion and mineral resources on green economic growth in mineral resources endowment countries from 2000 to 2021. To address slope heterogeneity and cross-sectional dependency, the novel (MMQR) model is applied. We also conduct an asymmetric analysis to detect the moderating and mediating roles of economic governance in the linkage between digital financial inclusion, mineral resources, and green economic growth. Our findings reveal the following: (1) Enhancing digital financial inclusion plays a crucial role in fostering green economic growth, and the synergy between digital financial inclusion and effective economic governance can amplify this positive impact in different quantiles; (2) mineral resources exhibit a sensitive association with GEG, such that excessive mineral resource extraction damages green economic growth. However, the interaction of economic governance with mineral resources transforms the negative influence into a positive one on green economic growth; (3) technological innovation and human development display an asymmetric correlation with green economic growth in different quantiles. The nonparametric panel Granger causality test establishes a significant causal relationship, demonstrating that digital financial inclusion and mineral resources can enhance green economic growth through improved economic governance. This finding holds significant importance for most mineral-rich nations, and we propose policy recommendations to strengthen digital inclusive finance and enhance economic governance.

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Authors and Affiliations

  1. School of Economics and Management, China University of Geoscience, Wuhan, China

    Satar Bakhsh

  2. Department of Economics & Finance, University of Bahrain, Sakhir, Bahrain

    Md Shabbir Alam

  3. School of Management, Jiangsu University, Zhenjiang, Jiangsu, China

    Kishwar Ali

  4. China University of Geoscience, Wuhan, China

    Muhammad Anas

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  1. Satar Bakhsh
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  4. Muhammad Anas
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SB- conceptualized, wrote methodology and conducted the econometric analysis, analyzed the findings, MSA- conducted introduction and literature review, KA- conduct the econometric analysis and review the introduction and literature part, and MA- Revise, supervised, Reviewed and edited the whole manuscript.

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Correspondence to Md Shabbir Alam.

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Bakhsh, S., Alam, M.S., Ali, K. et al. What facilitates green economic growth in mineral-endowment countries? The role of digital financial inclusion, mineral resources, and economic governance. Miner Econ (2024). https://doi.org/10.1007/s13563-024-00438-x

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