The dynamic nexus between economic policy uncertainty, geopolitical risk, and natural resource rents of ASEAN-5 countries: Insights from the novel Fourier augmented ARDL method (FAARDL)

IF 10.2 2区经济学 0 ENVIRONMENTAL STUDIES

Resources Policy Pub Date : 2025-01-01 DOI:10.1016/j.resourpol.2024.105449

Khalid M. Kisswani , Mahelet G. Fikru

{"title":"The dynamic nexus between economic policy uncertainty, geopolitical risk, and natural resource rents of ASEAN-5 countries: Insights from the novel Fourier augmented ARDL method (FAARDL)","authors":"Khalid M. Kisswani , Mahelet G. Fikru","doi":"10.1016/j.resourpol.2024.105449","DOIUrl":null,"url":null,"abstract":"<div><div>This study examines the impact of economic policy uncertainty (EPU) and geopolitical risk (GPR) on natural resource rent (NR) in ASEAN-5 countries: Indonesia, Malaysia, the Philippines, Singapore, and Thailand. Utilizing the Fourier augmented autoregressive distributed lag model (FAARDL), we analyze the long-run and short-run impacts of EPU and GPR on NR while controlling for economic growth. Our findings reveal a significant negative impact of GPR on NR across all countries, with varying degrees. EPU shows heterogeneous effects, negatively impacting NR in Indonesia and Thailand, positively affecting the Philippines, but has no significant long-run impact in Malaysia and Singapore. For countries endowed with a diverse set of resources, including both fossil fuels and energy transition minerals, as well as renewable resources such as timber, these findings highlight the need to develop robust resource management strategies. Such strategies are essential for navigating geopolitical risks and economic uncertainties.</div></div>","PeriodicalId":20970,"journal":{"name":"Resources Policy","volume":"100 ","pages":"Article 105449"},"PeriodicalIF":10.2000,"publicationDate":"2025-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Resources Policy","FirstCategoryId":"96","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S030142072400816X","RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"0","JCRName":"ENVIRONMENTAL STUDIES","Score":null,"Total":0}

引用次数: 0

Abstract

This study examines the impact of economic policy uncertainty (EPU) and geopolitical risk (GPR) on natural resource rent (NR) in ASEAN-5 countries: Indonesia, Malaysia, the Philippines, Singapore, and Thailand. Utilizing the Fourier augmented autoregressive distributed lag model (FAARDL), we analyze the long-run and short-run impacts of EPU and GPR on NR while controlling for economic growth. Our findings reveal a significant negative impact of GPR on NR across all countries, with varying degrees. EPU shows heterogeneous effects, negatively impacting NR in Indonesia and Thailand, positively affecting the Philippines, but has no significant long-run impact in Malaysia and Singapore. For countries endowed with a diverse set of resources, including both fossil fuels and energy transition minerals, as well as renewable resources such as timber, these findings highlight the need to develop robust resource management strategies. Such strategies are essential for navigating geopolitical risks and economic uncertainties.

查看原文本刊更多论文

求助全文

约1分钟内获得全文求助全文

来源期刊

Resources Policy ENVIRONMENTAL STUDIES-

CiteScore

13.40

自引率

23.50%

发文量

602

审稿时长

69 days

期刊介绍： Resources Policy is an international journal focused on the economics and policy aspects of mineral and fossil fuel extraction, production, and utilization. It targets individuals in academia, government, and industry. The journal seeks original research submissions analyzing public policy, economics, social science, geography, and finance in the fields of mining, non-fuel minerals, energy minerals, fossil fuels, and metals. Mineral economics topics covered include mineral market analysis, price analysis, project evaluation, mining and sustainable development, mineral resource rents, resource curse, mineral wealth and corruption, mineral taxation and regulation, strategic minerals and their supply, and the impact of mineral development on local communities and indigenous populations. The journal specifically excludes papers with agriculture, forestry, or fisheries as their primary focus.