RESEARCH ARTICLE
Regional sustainable development: The relationship between natural capital utilization and economic development
Xianhui Hou,
Jingming Liu,
Daojun Zhang,
Xianhui Hou
College of Economics and Management, Northwest A&F University, Yangling, China
Search for more papers by this authorCorresponding Author
Jingming Liu
School of Public policy and Administration, Xi'an Jiaotong University, Xi'an, China
Correspondence
JingMing Liu, School of Public Policy and Administration, Xi'an Jiaotong University, 28 Xianning West Road, Xi'an 710049, China.
Email: [email protected]
Search for more papers by this authorDaojun Zhang
College of Economics and Management, Northwest A&F University, Yangling, China
Search for more papers by this authorXianhui Hou,
Jingming Liu,
Daojun Zhang,
Xianhui Hou
College of Economics and Management, Northwest A&F University, Yangling, China
Search for more papers by this authorCorresponding Author
Jingming Liu
School of Public policy and Administration, Xi'an Jiaotong University, Xi'an, China
Correspondence
JingMing Liu, School of Public Policy and Administration, Xi'an Jiaotong University, 28 Xianning West Road, Xi'an 710049, China.
Email: [email protected]
Search for more papers by this authorDaojun Zhang
College of Economics and Management, Northwest A&F University, Yangling, China
Search for more papers by this authorAbstract
With the importance of sustainable development widely accepted, the relationship between natural capital utilization and economic development has become a global focus. This study analyzes the relationship between the utilization of natural capital and economic development in the countries along China's “Belt and Road” initiative using a panel regression model. The results show that the labor force, rural and urban populations, and exports and imports have a significant impact on both natural capital consumption and economic development. However, the impact of exports and imports on economic development here is contrary to economic theory and experience. We also find that there is still resource dependence in economic development and that natural capital consumption has a long-run impact on it. To address this, the “Belt and Road” countries should adopt comprehensive national and regional measures to build a mutually beneficial cooperative mechanism and trade environment.
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