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Natural capital and economic growth: a panel study approach

Natural capital and economic growth: a panel study approach This paper employs panel data study of 63 developing countries to examine the relationship between natural capital and economic growth. Natural capital per capita and GDP per worker are used as proxies for natural capital and economic growth, respectively. Using three regression models, the results suggest there is a statistically significant positive relationship between natural capital and economic growth, and a long-run relationship (co-integration) between the variables. Therefore, treating natural capital as a substitute rather than as a complement in the production process undermines the important role natural capital plays for economic growth and development. Hence, national level governments should pay important attention to their natural capital. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png International Journal of Sustainable Economy Inderscience Publishers

Natural capital and economic growth: a panel study approach

International Journal of Sustainable Economy , Volume 11 (3): 15 – Jan 1, 2019

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Publisher
Inderscience Publishers
Copyright
Copyright © Inderscience Enterprises Ltd
ISSN
1756-5804
eISSN
1756-5812
DOI
10.1504/IJSE.2019.100675
Publisher site
See Article on Publisher Site

Abstract

This paper employs panel data study of 63 developing countries to examine the relationship between natural capital and economic growth. Natural capital per capita and GDP per worker are used as proxies for natural capital and economic growth, respectively. Using three regression models, the results suggest there is a statistically significant positive relationship between natural capital and economic growth, and a long-run relationship (co-integration) between the variables. Therefore, treating natural capital as a substitute rather than as a complement in the production process undermines the important role natural capital plays for economic growth and development. Hence, national level governments should pay important attention to their natural capital.

Journal

International Journal of Sustainable EconomyInderscience Publishers

Published: Jan 1, 2019

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