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Price Fluctuation of Natural Resources and Its Impacts on Economic Development

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Natural Resources Utilization in China

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Abstract

The development of economy and society is inseparable from the utilization and processing of various natural resources. Original natural resources are transformed into products and materials needed for human social life and production through mining, processing, and packaging, among other methods, so as to promote the development of society. However, the impacts of natural resources on social and economic development are not always positive, varying from country to country or region to region. In view of this phenomenon, a large number of scholars have studied the impacts of natural resources utilization on economic development and advanced some explanations and conjectures. Some scholars consider the impacts of natural resources on economic development to be related to the abundance of resources: the more the resources, the slower the economic growth. This view is more about correlation analysis between the abundance of natural resources and economic growth but cannot determine whether the abundance of natural resources is the reason for hindering economic development. Some other scholars deem the reason why natural resources are not conducive to economic development as not concerning the abundance of natural resources, but rather the shocks and risks brought by the price fluctuation of natural resources. The economic benefits gap arising from the adverse impacts of price fluctuation and the utilization of natural resources is the reason for the different impacts of natural resources utilization on economic development in different countries (regions).

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Authors and Affiliations

  1. Collaborative Innovation Center for Ecological Economics and Management, Anhui University of Finance and Economics, Bengbu, Anhui, China

    Malin Song

  2. School of Economics, Hefei University of Technology, Hefei, China

    Tao Ding

  3. School of Public Administration, Southwestern University of Finance and Economics, Chengdu, China

    Jiandong Chen

Authors
  1. Malin Song
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  2. Tao Ding
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  3. Jiandong Chen
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Correspondence to Tao Ding .

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Song, M., Ding, T., Chen, J. (2023). Price Fluctuation of Natural Resources and Its Impacts on Economic Development. In: Natural Resources Utilization in China. Contributions to Public Administration and Public Policy. Springer, Singapore. https://doi.org/10.1007/978-981-99-4981-6_8

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  • DOI: https://doi.org/10.1007/978-981-99-4981-6_8

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