Nexus between Natural Resources and Human Development in Developing Countries

Abstract

From 1990–2021, this study looks at the expansion of developing nations and the complicated links between natural resources and growth. In areas where resources are abundant, this study aims to dissect the web of influences that determines how human civilization develops. To achieve this goal, we must prioritize the following seven areas: GDP per capita, life expectancy, school enrollment, carbon emissions, exports of natural resources, and access to purified water. The research uses a large dataset over 30 years to look for correlations between the selected variables. Models for panel autoregressive distributed lag (ARDL), unit root tests, descriptive statistics, correlation analysis, and variance impact factors (VIF) are among the several statistical techniques used in the methodology. Panel ARDL models that include both long- and short-run coefficients help us understand the long-term and short-term impacts. According to the main results, significant markers of human development, such as life expectancy and school enrollment, are strongly correlated with specific natural resources, such as carbon emissions and the availability of clean water. For academics, development experts, and legislators working to craft policies that promote equitable and comprehensive human development in dynamic socioeconomic contexts, this data could prove to be an invaluable resource.