Effect of Natural Resources and Human Development on Industrial Production in Belt and Road Initiative Countries: An Analysis

Purpose: This study examines the impact of natural resources, human development, and renewable energy on industrial productivity, utilizing data from 105 Belt and Road Initiative countries from 2001 to 2021. Panel-data estimation techniques are commonly employed to analyze data. Design/Methodology/Approach This set includes tests for DH causality, panel cointegration, slope homogeneity, cross-sectional dependence, FGLS, and PCSE models. The CIPS and CADF tests show that ED, GDP, NR, and GF are all level (1) stationary. The GE and TR tests, on the other hand, indicate that the series is stationary at I (1). The Wasteland and Pedroni tests support this result, which is consistent with the Model's long-term cointegration. The FGLS Model in BRI member countries also backs up the EKC framework. Findings: The findings indicate that BRI nations require green finance and renewable energy to diminish their carbon footprints. The research says that BRI countries are releasing more CO2 because they are mining for natural resources. Implications/Originality/Value The study says that if BRI countries want to help the environment, they should focus on green energy and long-term financing.