The effects of an abundance of natural resources on the healthcare industry: The global evidence

Abstract The current study investigates the effects of an abundance of natural resources on the healthcare industry worldwide. Various natural resources proxies such as rents for coal, mineral, natural gas, and oil are used and analyzed by using a quarterly datasets for the period 2000:Q1–2020:Q4. Results from regional and income group datasets show that various forms of natural resources abundance around the globe exert statistically significant, but a mix of positive and adverse effects on the healthcare sector. Results also reveal that changes in and shocks given to natural resources precede significant changes in the healthcare sector in general. This study advises that countries need to achieve careful resource management, open governance, and economic diversification top priority in order to lessen reliance on a single resource and mitigate any negative effects. Further implications are provided at the end of this study.