Simionescu Mihaela, Gavurova Beata
Faculty of Business and Administration, University of Bucharest, Bucharest, Romania.
Institute for Economic Forecasting, Romanian Academy, Bucharest, Romania.
Heliyon. 2023 Sep 19;9(9):e20273. doi: 10.1016/j.heliyon.2023.e20273. eCollection 2023 Sep.
Given the recent preoccupations of scientific environment for "resource curse" in the context of financial development, the aim of this paper is to explore more the connection between financial development and natural resources abundance/dependence in the major five gas exporters in the period 1996-2021. The panel data models based on DOLS/FMOLS approach and mean group (MG) estimator suggest that the impact of resource abundance on financial development depends on the type of indicators used to assess the financial progress, as previous studies suggested. More coal per capita and the interaction between contract intensity and total natural resources, respectively oil per capita contribute to the development of financial markets, while economic growth supports the development of financial institutions. Even if natural gas per capita is causally related to financial development, it does not exert a significant impact on it in these countries. The new international context might be an opportunity for US, Canada, China and Saudi Arabia to achieve this target.
鉴于近期科学环境对金融发展背景下“资源诅咒”的关注，本文旨在进一步探讨1996 - 2021年期间主要五个天然气出口国金融发展与自然资源丰裕度/依赖性之间的联系。基于动态最小二乘法/完全修正最小二乘法方法和均值组（MG）估计量的面板数据模型表明，正如先前研究所示，资源丰裕度对金融发展的影响取决于用于评估金融进展的指标类型。人均煤炭量以及合同强度与总自然资源的交互作用，分别为人均石油量，有助于金融市场的发展，而经济增长则支持金融机构的发展。即使人均天然气与金融发展存在因果关系，但在这些国家中它对金融发展并未产生显著影响。新的国际背景可能为美国、加拿大、中国和沙特阿拉伯实现这一目标提供契机。
