Striking the balance in resource management: Exploring the impact of natural and mineral resources on financial development in BRICS-T nations

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dc.authoridYağış, Onur / 0000-0003-3457-657X
dc.contributor.authorHossain, Md. Emran
dc.contributor.authorYağış, Onur
dc.contributor.authorHaseeb, Mohammad
dc.contributor.authorKhudoykulov, Khurshid
dc.contributor.authorWibowo, Wisnu
dc.contributor.authorEsquivias, Miguel Angel
dc.date.accessioned2026-02-03T12:02:43Z
dc.date.available2026-02-03T12:02:43Z
dc.date.issued2025
dc.departmentÇanakkale Onsekiz Mart Üniversitesi
dc.description.abstractThe BRICS-T nations-Brazil, Russia, India, China, South Africa, and Turkey-feature diverse economic structures, including strong manufacturing sectors, advanced technological capabilities, and rich natural and mineral resources, all of which offer substantial potential for economic growth. However, the role of these resources in fostering financial development has been underexplored. This study investigates the impact of natural (oil and coal) and mineral resource rents on financial development in BRICS-T countries, while controlling for political stability and economic growth, to discern whether these resources contribute to a resource blessing or a resource curse. Utilizing a 34-year dataset (1990-2023) and robust panel estimation techniques, including the Cross-Sectionally Augmented Autoregressive Distributed Lag (CS-ARDL) model alongside rigorous robustness tests, the analysis reveals a resource curse for natural resources (oil and coal), which hinders financial development due to economic volatility and sector imbalances. In contrast, mineral resources exhibit a resource blessing, significantly enhancing financial development by supporting financial sector growth and diversification. Furthermore, economic growth and political stability are pivotal in promoting financial development, with their long-run effects being more pronounced than in the short run. These findings suggest that policymakers in BRICS-T nations should focus on the strategic management of mineral resources rather than relying heavily on natural resources to promote financial development. Additionally, fostering stable political environments and sustained economic growth is essential to enhancing the resilience and strength of the financial sector.
dc.description.sponsorshipAirlangga University, Surabaya, Indonesia
dc.description.sponsorshipThis work was supported by Airlangga University, Surabaya, Indonesia.
dc.identifier.doi10.1016/j.indic.2025.100905
dc.identifier.issn2665-9727
dc.identifier.scopus2-s2.0-105015343741
dc.identifier.scopusqualityQ1
dc.identifier.urihttps://doi.org/10.1016/j.indic.2025.100905
dc.identifier.urihttps://hdl.handle.net/20.500.12428/34843
dc.identifier.volume28
dc.identifier.wosWOS:001572112400001
dc.identifier.wosqualityQ1
dc.indekslendigikaynakWeb of Science
dc.indekslendigikaynakScopus
dc.language.isoen
dc.publisherElsevier
dc.relation.ispartofEnvironmental and Sustainability Indicators
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanı
dc.rightsinfo:eu-repo/semantics/openAccess
dc.snmzKA_WOS_20260130
dc.subjectMineral resources
dc.subjectResource curse hypothesis
dc.subjectCoal and oil rents
dc.subjectFinancial development
dc.subjectBRICS-T
dc.titleStriking the balance in resource management: Exploring the impact of natural and mineral resources on financial development in BRICS-T nations
dc.typeArticle

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