Ahmad Mahmood, Ahmed Zahoor, Yang Xiyue, Can Muhlis
Business School, Shandong University of Technology, Zibo, 255000 Shandong China.
Department of Accounting and Finance, Faculty of Economics and Administrative Sciences, Cyprus International University, Mersin 10, 99040 Haspolat, Turkey.
Soc Indic Res. 2023;167(1-3):269-288. doi: 10.1007/s11205-023-03106-9. Epub 2023 Apr 6.
Human well-being is the top priority of all nations in the twenty-first century. However, depletion of natural resources and financial risk can negatively impact human well-being, which in turn can make it difficult to realize human well-being. Also, green innovation and economic globalization may play a significant role in human well-being. In this context, this study assesses the impacts of natural resources, financial risk, green innovation, and economic globalization on human well-being in emerging countries from 1990 to 2018. The empirical results from the Common Correlated Effects Mean Group estimator unveiled that natural resources and financial risk negatively affect the human well-being of emerging nations. Furthermore, the results show that green innovation and economic globalization positively contribute to human well-being. These findings are also verified using alternative methods. In addition, natural resources, financial risk, and economic globalization Granger cause human well-being but not the other way round. Furthermore, bidirectional causality exists between green innovation and human well-being. Considering these novel findings, sustainable utilization of natural resources and controlling financial risk are necessary strategies for realizing human well-being. More resources should be allocated for green innovation, and government should encourage economic globalization to attain sustainable development in emerging countries.
人类福祉是21世纪所有国家的首要任务。然而，自然资源的枯竭和金融风险会对人类福祉产生负面影响，进而可能使实现人类福祉变得困难。此外，绿色创新和经济全球化可能在人类福祉方面发挥重要作用。在此背景下，本研究评估了1990年至2018年期间自然资源、金融风险、绿色创新和经济全球化对新兴国家人类福祉的影响。共同相关效应均值组估计器的实证结果表明，自然资源和金融风险对新兴国家的人类福祉有负面影响。此外，结果表明绿色创新和经济全球化对人类福祉有积极贡献。这些发现也通过替代方法得到了验证。此外，自然资源、金融风险和经济全球化是人类福祉的格兰杰原因，但反之则不然。此外，绿色创新与人类福祉之间存在双向因果关系。考虑到这些新发现，自然资源的可持续利用和控制金融风险是实现人类福祉的必要策略。应将更多资源分配给绿色创新，政府应鼓励经济全球化以实现新兴国家的可持续发展。
