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Natural Resources Depletion, Financial Risk, and Human Well-Being: What is the Role of Green Innovation and Economic Globalization?

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 p...

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Autores principales: Ahmad, Mahmood, Ahmed, Zahoor, Yang, Xiyue, Can, Muhlis
Formato: Online Artículo Texto
Lenguaje:English
Publicado: Springer Netherlands 2023
Materias:
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC10078065/
https://www.ncbi.nlm.nih.gov/pubmed/37304457
http://dx.doi.org/10.1007/s11205-023-03106-9
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author Ahmad, Mahmood
Ahmed, Zahoor
Yang, Xiyue
Can, Muhlis
author_facet Ahmad, Mahmood
Ahmed, Zahoor
Yang, Xiyue
Can, Muhlis
author_sort Ahmad, Mahmood
collection PubMed
description 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. GRAPHICAL ABSTRACT: [Image: see text]
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spelling pubmed-100780652023-04-07 Natural Resources Depletion, Financial Risk, and Human Well-Being: What is the Role of Green Innovation and Economic Globalization? Ahmad, Mahmood Ahmed, Zahoor Yang, Xiyue Can, Muhlis Soc Indic Res Original Research 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. GRAPHICAL ABSTRACT: [Image: see text] Springer Netherlands 2023-04-06 2023 /pmc/articles/PMC10078065/ /pubmed/37304457 http://dx.doi.org/10.1007/s11205-023-03106-9 Text en © The Author(s), under exclusive licence to Springer Nature B.V. 2023. Springer Nature or its licensor (e.g. a society or other partner) holds exclusive rights to this article under a publishing agreement with the author(s) or other rightsholder(s); author self-archiving of the accepted manuscript version of this article is solely governed by the terms of such publishing agreement and applicable law. This article is made available via the PMC Open Access Subset for unrestricted research re-use and secondary analysis in any form or by any means with acknowledgement of the original source. These permissions are granted for the duration of the World Health Organization (WHO) declaration of COVID-19 as a global pandemic.
spellingShingle Original Research
Ahmad, Mahmood
Ahmed, Zahoor
Yang, Xiyue
Can, Muhlis
Natural Resources Depletion, Financial Risk, and Human Well-Being: What is the Role of Green Innovation and Economic Globalization?
title Natural Resources Depletion, Financial Risk, and Human Well-Being: What is the Role of Green Innovation and Economic Globalization?
title_full Natural Resources Depletion, Financial Risk, and Human Well-Being: What is the Role of Green Innovation and Economic Globalization?
title_fullStr Natural Resources Depletion, Financial Risk, and Human Well-Being: What is the Role of Green Innovation and Economic Globalization?
title_full_unstemmed Natural Resources Depletion, Financial Risk, and Human Well-Being: What is the Role of Green Innovation and Economic Globalization?
title_short Natural Resources Depletion, Financial Risk, and Human Well-Being: What is the Role of Green Innovation and Economic Globalization?
title_sort natural resources depletion, financial risk, and human well-being: what is the role of green innovation and economic globalization?
topic Original Research
url https://www.ncbi.nlm.nih.gov/pmc/articles/PMC10078065/
https://www.ncbi.nlm.nih.gov/pubmed/37304457
http://dx.doi.org/10.1007/s11205-023-03106-9
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